In our previous article, we looked at why your digital marketing strategy isn't working and how you can fix it. Once your robust digital marketing strategy and buyer personas are in place, then it’s time for the big campaign to go live.
But what if it isn’t an overnight viral sensation? And weeks later, you still don’t have any real results?
Here are two reasons why your digital marketing campaign isn’t getting the results you want and two ways you can fix it:
1. You don't measure important metrics.
Nowadays, gathering data is easier than ever, but working on multiple campaigns simultaneously can make you lose track of the key metrics you should be monitoring. Furthermore, if you're only focusing on short-term goals and making reactive decisions, then you won't be able to accurately calculate metrics, such as conversion rates, the length of your buyers' journey or your marketing efforts' contribution to revenue. Reactive decisions should not be the 20% affecting the 80% of your outcomes unless you're in PR crisis management.
The solution: Start by creating a long-term strategy, ideally an annual plan, but a quarterly plan at minimum. Then set S.M.A.R.T. (specific, measurable, attainable, relevant and timely) goals for both your marketing and sales team, and start monitoring metrics such as the following:
- Sessions to new leads: the conversion rate of the number of sessions on your website to the number of leads generated by those sessions.
- New leads to customers: the conversion rate of the new leads you got to the number of customers generated by those leads.
- New deals to customers: the conversion rate of the amount of new deals created to the number of new customers resulting from those deals. By deals, we refer to the contact point of a sales advisor with a Sales Qualified Lead (SQL) who has confirmed interest in the product or service.
These three examples make for a good starting point in identifying gaps in your marketing and sales strategy, as they measure performance at different stages of the funnel. For example, the sessions-to-leads conversion rate stems from marketing activities at the awareness stage (top of the funnel) while the deals-to-customers conversion rate can reveal issues within the sales process (bottom of the funnel). Keep in mind that these metrics are indicative only; there are many important metrics you should be taking into consideration, depending on your business objectives.
2. You expect results overnight.
With GDPR regulations and consumers becoming 'adlergic,' it's becoming more and more difficult for brands to reach their audiences, especially when using traditional methods of marketing. There is no magic formula for getting results overnight and even though in some cases we're able to score a few quick wins, this is not a sustainable approach - unless you can afford to spend thousands on paid ads.
The solution: Rather than focusing on short-term results, use inbound marketing to create a sustainable system of producing leads with low(er) customer acquisition costs. The inbound approach is ideal for B2B companies with intricate selling operations and a select number of high-value customers.
It's never too late to call in the experts.
And if your digital marketing strategy still isn't working or you simply need someone to point you to the right direction, then click on the button below to contact us and schedule a call with a member of our team.