To establish the effectiveness of an online marketing campaign there are numerous metrics that can be used. These allow insight into the performance of the campaign and they can help guide decision making, and areas for improvement. It is a crucial step in the online marketing workflow, that can help optimize strategies and allocate resources more effectively.


Evaluating Effectiveness:

• Conversion Rate

This metric measures the percentage of website visitors who interact in some way such as signing up for a newsletter, making a purchase or filling out a form. It can provide feedback to the business on the effectiveness of a marketing campaign.

• Return on Investment

The profitability of an investment can be a good indicator to evaluate marketing effectiveness. By calculating and tracking the return on investment, businesses can determine if their marketing efforts have made a positive impact in sales or not, and based on these finding future decisions could be made regarding marketing.

• Engagement Metrics

Users interacting with promotional material by the way of liking posts, commenting, sharing or clicking on certain items, spending time on a certain page. These indicators can provide insight into how well a marketing campaign is performing and can inform  decisions to enhance user engagements.

Analytics techniques are processes in digital marketing, where the aim is to collect and analyse insights from the data collected through measurement tools. These techniques can help optimising the campaign's effectiveness. 

Analytics Techniques:

• Customer Segmentation

This analytics technique involves splitting up the target audience into distinct groups based on shared behaviours and characteristics. Businesses can easily tailor their marketing strategies to a segments needs by taking into account their purchase history, browsing behaviours and demographics. More personalized and targeted marketing can be achieved by segmenting a target audience.

• Funnel Analysis

Funnel analysis helps identify bottlenecks in the marketing strategy where users might benefit more from targeted marketing. It analyses the customer journey from awareness to conversion and identifies key sections where improvements could be made.

• A/B Testing

Another analytics technique is A/B testing, which involves two or more variations of an advertisement presented to the users and monitoring which one performs better. Based on the results of the testing, better performing key metrics can be identified and deployed.

Data measurement tools are important tools that can help assessing the effectiveness and success of our marketing. With these tools we can collect, analyse and interpret data to make better decisions and optimise our strategies.

Measuring Data:

• Google Analytics

Google Analytics is an industry leading and widely used  web analytics tool that provides data on website performance, user behaviour and conversions. It has features such as customer segmentation, goal tracking, e-commerce tracking, and campaign tracking. It can help businesses understand their website's strengths and weaknesses.

• Social Media Analytics

Facebook Insights, Twitter Analytics and Instagram Insights, can provide valuable data on demographics, engagements and impressions. These social media platforms offer great real time insight and feedback on how a social media marketing content is performing and based on that informed decisions could be made to tailer the campaign accordingly.

• Customer Relationship Management

Customer Relationship Management systems enable businesses to track and analyse customer interactions, sales data and marketing activities. By integrating marketing and sales data, effective measurements can be made of how they contribute to the overall customer journey and revenue generation.


References:

Council, Y.E. (2020) Council post: 5 steps to evaluate your company’s digital marketing strategy, Forbes. Available at: https://www.forbes.com/sites/theyec/2012/10/13/5-steps-to-evaluate-your-companys... (Accessed: 12 June 2023). 

(2023) Acadium. Available at: https://acadium.com/blog/digital-marketing-analytics/ (Accessed: 12 June 2023).