Level 2 Certificate in Digital Promotion for Business (601/6673/3)
Unit 08 Measuring the effectiveness of digital promotional activity for business (H/507/4160)
In this NCFE unit we will investigate and apply a range of digital promotional activities.
Understanding the process and benefits of measuring digital promotional activities.
1.1 Describe Ways To Measure The Effectiveness Of A Digital Promotional Campaign
Different key performance indicators KPI or metrics are measured through the funnel when we run a digital campaign.
Before we look into details we must understand the difference between the vanity and value metrics in marketing. Vanity metrics are figures that look good but behind the figure no true value is gained from these numbers. An example of this are many figures we see in social media. platforms. The number of follower gained during a campaign looks good but in reality does not equate to revenue for a business or individual.
The percentage of conversions of leads to subscribers and then conversions of subscriber to customers a few weeks or months down the line is a better way to measure whether a business is going to make money.
Ways in which effectiveness could be managed include customer conversion processes, meeting
campaign objectives, and cost effectiveness.
At the top of the marketing funnel. The KPIs to consider are
At the middle of the marketing funnel.The KPIs to consider are measurements from the website. Such as visitors, then
At the bottom of the marketing funnel. The KPIs to consider are conversion goals set up in analytics. These conversions could be one of the following: sales, sign ups and downloads. If
Customer acquisition costs.
Customer lifetime value.
KPIs would you actually worry about?
Sales, revenue, overhead, time to purchase, repeat visits, etc.
proper Goal Completions and Events Tracking
Which string together different types of conversions within your
A conversion occurs whenever a desired action is taken on your site,
aka a user is moving incrementally down the sales funnel.
newsletter subscription. Google analaytics goal
Sales pipe line
Maro or indent driven interactions
Wanting a 3 month quote
purchase on site
We need event driven metrics and we need to measure the frequency of these events to keep moving forward in our progress
Most effective marketing channels are
Organic position for commercial keywords.
Lead-to-customer conversion rate.
Core metrics are sales
new customers gained
sales called booked
to leverage your existing customer base is to use automated
customer satisfaction surveys.
references for other business actually earn new business.
1.2 Compare The Effectiveness Of Digital Promotional Activities
GA is useful in developing and desgin the site
email addresses are more valuable than follower on twitter. More engaged subscribe
newsletter providers value to subscribers more than just special offers. Offer discounts or loyalty points for being valued customers
We are going to compare the following activities website, email, SEO, social media for effectiveness
conversion, visitors profiles consumer research. asking lots of questions with surveys
Analytics and metric
This section 1 above is about understanding
So what are the benefits of measuring the effectiveness of digital promotional activities?
The learner can:
2.1 Explain Why It Is Important To Measure The Effectiveness Of Digital Promotional Activities
working not working direction to change checking and progress. Over time comparisons should be made over a time period month to month to see if activities improve the KPIs.
Benefits identify opportunities for innovation
2.2 Evaluate The Benefits To A Business Of Measuring The Campaign’s Effectiveness
This section 2 above is about understanding
before and after
email marketing platforms like MailChimp are hugely useful in creating and tracking campaigns as well as facilitating GDPR compliance
Here we are going to give recommendation/best practice to inform an effective future campaign
Our own campaign A/B testing.
Will digital marketing pay off are they effective. Data and insights into your audience
Vanity vs Value
KPI and ROI.
More action in value closer to money transaction
Analyse and then take actions
Micro and macro conversions Goals need to be set up
No immediate effect
Lots of micro and downloads of documents, or newsletter sign up
Demo, meeting, sales are macro ---revenue
Can not measure or market can not manage
Time is a factor in gaining success in digital business
Screen shots need for the following