If you run an ecommerce business you would know well the importance and the impact that a good marketing strategy has on your business. Taking your business to the next level by generating more leads, attracting more clients, and making more sales are all part of a successful marketing strategy. With this comes a big challenge of measuring the success of your e-commerce marketing campaigns to know their effectiveness it. But like always we’ve got you covered with our detailed guide covering every aspect of measuring the success of a campaign.Â
Digging deeper into understanding E-commerce Campaigning:
Have you ever thought about what it really means to measure your campaign? In simple words, it is a way to measure the effectiveness of your marketing efforts using data and results that are collected for a period of time. When you perform this action of measuring your campaigns you’re well aware of the decisions you have to take in the future.Â
Advantages of measuring the effectiveness of e-commerce marketing campaigns:
Campaign measurement does not only assist you in getting insights into what’s working for your practice and what’s not, it also helps you to modify your marketing strategy for maximum outputs. Following are some advantages that a successful e-commerce can help you to achieve:
- Take a deeper look at campaigns that are driving the most conversions.Â
- Focus on what your customer demands are
- Keep on enhancing your e-commerce store for higher conversion rates
- Evaluate your achievements against competitors as well as sector standards.
Steps to take in order to measure e-commerce marketing campaigns:
Rule no.01: Be concise
It is important to have a well-defined plan in your head before you start measuring a marketing campaign. This goal could be anything like enhancing your rate of conversion by thirty percent or making your website more user-friendly. In short, having a well-defined approach helps you evaluate your campaign’s effectiveness against competitors.
Rule no.02:Metrics
Key performance indicators also known as metrics are tools that assist you in understanding if your company is meeting the specified goals. These goals could be anything from generating sales to improving sales. Let’s say you’re striving to improve your website traffic and sales, the number of new visitors to your website and the minimum transaction amount would be your KPI.
Assimilate KPIs with your business goals.Â
Rule no.03: Set a limit
This is a very important point to consider when measuring e-commerce campaigns. You do not want your campaign to run for a very long time or for a very short period that you do not see any noticeable results. Your limit is entirely dependent on the objectives of your campaign, to measure some objectives you would probably require months while to measure others you’d require a few weeks. Bear in mind that some campaigns generate effective results within a few days or weeks while some take months or even years to produce clear-cut results. When you’re setting a limit for each objective that is part of your campaign you’re ensuring that you allow enough time before making alterations.Â
Rule no.04: Tools
The most crucial step in collecting data for measuring the success of your e-commerce is the use of the right tools. Your data is the most important factor as all the processing is done on it. Incorporate tools such as Google Analytics, e-commerce tracking, or software applications that handle business data such as CRM. Ensure checking your data on a daily basis and evaluating it to have a clear understanding of whether the campaign is landing to your specified objectives or not.
Rule no.05: Getting rid is not an option
We live in the digital era where AI has taken over. We tend to think that because artificial intelligence or software is optimized so much our responsibility of looking after things is gone. However, this approach is completely incorrect, once you have set your marketing campaign it is your responsibility to monitor where it is going, and how successful it is in meeting the goals you have set. Furthermore, making necessary changes considering the data is your responsibility. In case your campaign fails to meet the requirement you should re-examine the data to have an understanding of what is possibly going wrong.
Rule no.06: The last step
Once you’ve prepared and given your final quiz the last thing that you wait for is your result which acts as a mirror to what you have done. The same goes for measuring your e-commerce marketing campaign. Ask yourself these questions, were you able to meet your goals that were specified in the beginning? How close were you to achieving your goals? In case you fail to answer these, ask yourself what went wrong. Where did you lack? What do you think should be altered in measuring your e-commerce marketing campaign for effectiveness?
Keep in mind that giving up is not an option, learn from your mistakes since every campaign you’ll measure will be a gateway for you to explore new stuff and improve more.Â
Do’s and don’ts of measuring your e-commerce campaign:
Following is a list of some Do’s and Don’ts to consider when measuring your e-commerce marketing campaign:
Do’s
- Do make use of reliable software and application
- Do check and analyze data on a daily basis
- Do set and define goals prior to measuring a campaign
- Do select the appropriate metrics:Â
DON’TS
- Do not overlook your rivals
- Do not consider the same objectives for every campaign you measure
- Do not focus solely on vanity stats
- Â Do not be scared to implement new strategies
We hope all your queries have been answered by the following guide that covers detailed information on how to measure campaigns along with the necessary do’s and don’ts. Contact DigAptics for your marketing solutions.