We’re already halfway through the year and I’m sure, just like many businesses you’ll be taking stock of marketing performance against goals. For those of you ahead of target, well done and for those of you struggling, keep your chin up.
For those of you flying by the seat of your pants with no real aims and objectives, give me a call.
In my experience when sales are down at this stage of the year there is a tendency for someone in the business to jerk their knee and shout “we need to up our marketing game” or “we need to implement a new sales promotion campaign”
But whether you’re on target or not, before you spend additional time, resource and budget on your next marketing activity it can pay dividends to analyse what’s currently working and what’s not.
It doesn’t make sense to spend good money after bad.
Now is a good time to take stock of your marketing performance and there are several things worth considering:
1. Take a deep dive into your web analytics
Most of you will use the Google Analytics package but taking a cursory look at how many site visits you’ve had each month isn’t really helping you or doing justice to what Google Analytics offers.
Key points to consider include:
- Which channels are driving traffic to your site
- The breakdown of new versus returning visitors
- Your best performing pages
- Your least performing pages
- Average session duration (time on site)
- Pages viewed per session
- The behaviour flow of visitors to your site
- The average load time of your web pages
- The entry and exit pages
Having a better understanding of how visitors behave on your site can provide the information you need to make key marketing decisions such as; where to invest more time and effort, where to divest and what you need to improve.
2. Do the same with your social media platforms
Social media can absorb lots of time and energy and it’s important to be measuring the data that matters to your business. Vanity metrics might make you feel good but probably won’t be adding to the bottom line.
Social media can play an important role in taking your business forward but only if you understand what it is you want from it and how you’ll measure this.
PS: In most cases it won’t be direct sales
3. Really get under the skin of your audience
Just because you meet with potential prospects and current customers on a regular basis doesn’t mean you really know their issues and concerns.
Creating “personas” or semi fictitious customers to represent the different user types you want to target can help focus the messaging and tone of voice of your marketing activities.
Understanding the needs and drivers of each persona in e.g. the Decision Making Unit (DMU) allows you to tailor your messaging to answer the issues they face at each stage in the buyer’s journey. There’s no point in providing top of the funnel, awareness based information to “Andrea the Accountant” when she needs to have an in-depth understanding of your financing offer.
4. Map out your customer’s journey
Taking a day out from the business with your sales, marketing and front line staff to map out how your customers actually engage with your company can be a very worthwhile exercise.
Plotting these interactions on a white board, supported by your web, social media and sales and marketing analytics can highlight bottlenecks, pinch points and barriers to success. Identifying these issues can improve the sales and marketing process, make it easier for your customers to do business with you and be a more cost-effective solution to increasing sales.
There are many things to consider when it comes to improving your marketing activities and the best results generally come when all of those activities are integrated and working towards a common aim. But it’s not always easy as the flowing statistics show:
Lack of resources, such as staff, funding, and time, remains the biggest obstacle to successful lead generation for 61% of B2B marketers. (BrightTALK, 2015)
63% of marketers say generating traffic and leads is their top challenge. (HubSpot, 2017)
Only 61% of marketers believe their marketing strategy is effective. (HubSpot, 2017)
If you’d like some help with any of the above or want to improve your marketing performance, get in touch.
Call 01803 413481 or email [email protected]