The Importance of An Effective Marketing Campaign
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10/26/2017 0 Comments Improvement In Learning Your MetricsSimply enjoying gains and planning our strategies to attract more customers is never enough to run a business. You also have to deal with numbers and objective results and researches in order to attain your organisational objectives. This is why marketing has always been referred to as an art and a science. You not only need the art of coming up with unique products and ways of promoting it to make sales, but also the logical reasoning required to keep a tap of your customers. These calculations and records help you to rationally analyse where you stand as a business organisation and the flaws you have been making in carrying out your business. Whether you are marketing a bakery shop or multinational company, knowing your metrics is the key to keeping your marketing campaigns profitable. You can’t just launch a marketing campaign and let it be. You also need to analyse the response received by the audience it was targeted towards. Once you plan out your marketing campaign, it becomes easier for you to evaluate your position in the market. You can base your status and position in the market on the metrics calculated during the functioning of your marketing campaign. If you are able to pin-point exactly how much your average customer is worth, you can ascertain how much you can afford to spend for the purpose of acquiring a new sale. This also makes it far easier for you to optimise your bids on various marketing platforms such as AdWords and Facebook. If you have an estimate of your customers, you can also make predictions based on the same. This also makes it easier for you to optimise your price and the profit margin. When you have a decent knowledge of this, you can never go wrong in pricing your products, which can be a sensitive issue with your customers. Simple online conversion optimisation techniques can also be used to tweak your pricing and to keep your product at the most suitable profit margin. Once you are done with calculating the key performance indicators such as your cost per acquisition (CPA), lifetime customer value (LCV) or average revenue per user (ARPU), you will find it way easier in launching other marketing campaigns and optimise them for profitability. So, launch campaigns, get as much data as possible and never forget to trust your metrics.
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