How to Measure Your Marketing Strategy With a Feedback Loop
The best way to measure your marketing strategy is through feedback loops. If you’re not using a feedback loop, how do you know how well you’re doing in your business strategy?
Measurements can help you understand if your plan is working or if you need to make adjustments.
Why Use a Feedback Loop
One of the best ways to measure your progress is through a marketing feedback loop. If you’re not using a feedback loop, how do you know how well you’re doing in your business strategy?
Choose your methods and track your data so that you can review it periodically.
Take steps to identify what is working and what isn’t, then use what you learn from past successes and failures in order to adjust future campaigns.
Step 1 – Collect Data
The very first step of creating a feedback loop is to collect data. For example, you might consider using Google Analytics or Google Data Studio, or another method for collecting traffic data on your website.
And/or by using social media tools, such as TweetDeck, in order to track followers and gauge engagement levels.
It’s important to measure more than one area of your marketing efforts so that you have multiple pieces of information when creating your Defense / Federal / Aerospace Industry strategic plans moving forward.
Step 2 – Analyze Data
If you’re not using a feedback loop, how do you know how well you’re doing in your business strategy? Choose the methods you want to use to measure and be consistent with collecting and reviewing the data.
In step one of our process, we outlined three common types of business-growth metrics: outputs, outcomes, and inputs.
Before you dive into where to measure, let’s review some terms.
- Output: is what you’re creating with your business strategy—an increase in sales, an influx of new customers, etc.
- Outcomes: are how you measure whether or not these things are happening.
- Inputs: are how much money and time you want to spend on each item—resources can help ensure better outcomes.
There are several ways to measure, for example:
– surveys to focus groups or employees
– discussion with a customer or an employee
– analyze weekly dashboard SEO analytics
– open and click-through rates of email marketing campaigns.
– engagement on social media
– landing page dwell time
– high or low bounce rates
The feedback loop is all about measuring your marketing strategy.
Step 3 – Set Goals & Track Progress
Do I need to make any adjustments after my first retest? If so, make them and re-test your title/topic based on your new findings.
Do I need more words? Fewer words? Or am I good with how it is now? Re-write or stick with what you have. (If you’re unsure, then stick with what you have for now.)
Step 4 – Implement Changes
Conduct an impartial comparison of your original title with each title you wrote.
To do that, run some Google Search keyword tool searches on your new titles and see how they rank for your target keywords.
If they’re not on page 1, keep iterating and retesting until you find something great.
Step 5 – Retest Marketing Sequence
Test your marketing sequence with an additional lead who is ready for a consultation.
Take notes on how you improved from last time. If there were any major sticking points, pause and ask yourself why those parts were difficult?
What do you need to improve in those areas? Once done retesting, go back and find one thing you can improve upon from last time.