All of your marketing activity should be trackable, right down to the specific campaign and channel which generated every enquiry or sale.
Because if you can’t trace a sale or lead back to its source (how did the person become aware of your company or the product you’re selling), then how can you know whether your marketing budget is being spent on the right things? How can you know which campaign (and channel) is the most effective and which isn’t?
Put simply, you can’t. And you should be able to.
If your marketing activity isn’t generating results (and profit), stop doing it. If you are seeing results and can track where they came from, do a great deal more of it. You’ll only know whether to stop or do more if you’re measuring the results.
Effective data management and customer insight goes a long way to fixing this challenge. Providing you’ve put in the effort up front and used response codes or sent campaigns via traceable mediums such as email, data analytics will tell you exactly which campaign has been successful and why.
Success can be a little subjective but ultimately it’s all about revenue. Did your campaign generate sufficient profit (at the right margin) once you have deducted the actual costs to consider doing more of it? If the answer is yes, then you know what you should do... much, much more!
If you’re scratching your head at this point and wondering how to make your campaigns much more effective, come and talk to us. We’ve a huge amount of experience in designing, implementing and analysing marketing campaigns which have delivered real results for our clients.