No marketing strategy is complete without a plan to measure progress. Measuring the results of your marketing pursuits will help you determine what’s working and what isn’t, so you can direct your time, energy, and budget towards the most effective strategies.
The U.S. Chamber of Commerce recommends measuring 5 KPIs (key performance indicators) to quantify your marketing efforts. For each marketing campaign that you launch, be sure to track your return on investment (ROI) and cost per engagement. Your cost per engagement is how much you spend to get a single user to engage with your ad (such as by clicking a link). You should also be tracking metrics related to your email campaigns and your overall website traffic. Knowing where your customers are coming from and what’s holding their attention best will help you optimize every element of your marketing strategy.
If you want to become your own marketing department, you need to learn how to market your business like an expert. Thankfully, there are countless resources available online that can teach you everything you need to know. With the right resources at your disposal, you’ll learn how to conduct market research, develop a solid brand strategy, choose the right marketing channels, measure your results, and more!