Every excellent marketing strategy is distinctive, but marketing evaluation is a clearly necessary part. Whatever business you are engaged in, to be sure, you will not continue to spend more money in the marketing strategy with unsatisfactory performance.
Maybe some enterprises continue to adhere to own strategy, especially the digital marketing regarded as a “powerful drug”. If failure happens, others will consider that the standards of traditional marketing are not suitable for digital marketing are just the reason. (http://lexicon.ft.com/Term?term=digital-marketing)
In fact, there are common problems that will be settled through realizing their differences and similarities.
Confirming your marketing objective
Each marketing strategy should design a specific marketing objective so as to measure the final success. This objective may be an effective measurement of return on investment. (http://www.investopedia.com/terms/r/returnoninvestment.asp)
Marketing objective should also be tangible (Dave, 2010). You cannot finish the calculation of ROI without some measurements of what you are seeking. Sales may be not the only measurement index that plays a key role in traditional way. It is not working for Facebook. No matter what you are seeking; it is much easier to find out the non-monetary index online than traditional model.
There is a good method. Firstly, you should confirm how much investment you make, including time, activity cost, number of posts and others. Meanwhile, you should also give the return a numerical value. While you think out what to measure, you will finish a ratio calculation.
Confirming your customer base
Confirm the customer base is an important factor of evaluating your marketing success and provides you a good idea of how effective your targeting is. If you get a broader range of customers that expected or a different customer group in marketing activity, you should look over the relative proportions of demographics, and then adopts them into next step.
The effective digital presence will have a bigger influence far beyond the physical geographic scope of your company. And the web’s responsiveness greatly impacts the digital presence, including positive and negative effects.
Besides, you can also examine the ROI to confirm the effects of your digital presence. If the ROI is satisfactory, there is no need for changing your digital marketing strategy. If ROI is lower than your expectation, it is necessary to check the demographics and ensure the consistency of all marketing information in each platform.
Evaluating your marketing strategy and expanding
There is little perfect strategy; even the successful marketing activity still has something to improve. When evaluating your digital marketing, it is necessary to take any potential defects into account carefully. If you can, it is a good choice to invite an excellent professional marketing analyst who will give you some important assistance in evaluating marketing strategy. If your digital marketing cannot work, he/she will check what is wrong and provides the pointed solution.
A nearly perfect digital marketing strategy will result in another strategic extension. Whatever consumers you are ready to expand, it is important to check the new demographics and identify the differences with current consumers (Sara, 2015). It is stupid you believe that you have known the potential response of targeting consumers to your marketing activity. It is necessary to verify your idea before implementing the new marketing activity, even if the targeting consumers seem the same on the surface.
In short, do not assume that how targeting consumers will accept your digital marketing activity. You must test them when expanding your marketing strategy. And no matter success or failure, you will learn something to perfect your digital marketing strategy.
Dave, Chaffey 2010, ‘Setting goals for your digital marketing’, retrieved 20 May 2016, <http://www.smartinsights.com/goal-setting-evaluation/goals-kpis/goals-for-your-digital-marketing/>
Sara, Flick 2015, ‘The Entrepreneur’s Guide To Evaluating Digital Marketing And ROI’, retrieved 20 May 2016, <http://www.business.com/online-marketing/the-entrepreneurs-guide-to-evaluating-digital-marketing-and-roi/>