What are metrics used to determine success of a marketing campaign?

What are metrics used to determine success of a marketing campaign?

What are metrics used to determine success of a marketing campaign?

KPI

Marketing campaigns help businesses/companies to connect to the public, understand their problems and bring one solution for them. If your business has no website-then marketing will be troublesome to measure the success rate. Well, if you want to profit then hire one of the best outsourcing companies in Florida.

What is a marketing campaign?

A marketing campaign is a long-term plan or strategy. There is one goal here- to increase sales and visibility of a particular product or service.

Types of marketing campaigns

  1. Traditional media campaign.
  2. Seasonal push campaign.
  3. Products launch campaign.
  4. Brand awareness campaign.
  5. Rebranding campaign.
  6. Brands launch campaign.
  7. Contest marketing campaign.
  8. Email marketing campaign.

What is done in a marketing campaign?

  1. Set a Goal-this is a business goal related to the sales of specific products or services.
  2. Determine a suitable budget for this thing.
  3. Choose your target audience.
  4. Select your channels of promotion.
  5. What is your marketing message? – frame it.
  6. Measure your success rate.
  7. If possible, compare your results with your competitors.

Some KPI’s to determine success

  1. Return on investment (ROI)- This is the most commonly used metric. Your net income /total cost of the campaign. Suppose you spend Rs1000 on Google ads and in return, you got Rs4000. Then ROI is(4000/1000)*100=400%.
  2. Cost per Lead-It is the cost involved to get each lead.
  3. Conversion Rate- This is a cost incurred by a website to convert a customer into buying customer.
  4. Customer Lifetime Value (CLV)- This is the total worth of a customer to a business during their relationship.
  5. Cost per Acquisition– This metric relates to the acquisition of new customers. It is the cost incurred to get new converts.
  6. Website traffic– Many website visitors mean more conversions and more sales.
  7. New v/s returning visitors-This one is a very important metric. Any new visitors may visit your webpage but if they return, it means there is something good on your website.
  8. Sessions– This metric measures the number of total visits your website gets, even if several are from the same visitor. For example, a customer may shop in the morning and return to the site in the evening, and you count both as unique and individual sessions.v\
  9. Bounce rate-It means no. of visitors who left your site after visiting your site via your landing page. Bounce Rates indicate disinterest, lack of quality content, and slow loading speed.
  10. Email Open rate– It is the rate at which someone opens your email address.

Well, these are some well-known matrics to determine the success of a marketing campaign.

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