103. 3 Ways To Measure Your Marketing Investment
If you are like most business owners . . .
You have invested in some type of marketing for your business that you couldn’t track results for. It’s easy to be talked into investing your time and money into Facebook Ads, Google Ads, SEO, and all kinds of marketing that involves posting on numerous platforms.
But, if you are also like most business owners, you don’t have any idea whether or not it’s working and are too busy to track the ROI.
No one is blaming you, you’re busy and are trying to run a business for goodness sake. This is why in Episode 103 I talk about the 3 BIG ways you can measure what is working and what is not, as well as, share with you some of the best questions I’ve learned to ask before hiring anyone for your marketing. It will save you time, frustration, and money. So be sure to tune into the entire episode here.
I spend a good chunk of the beginning of the episode talking about something you may not think is very important, but it’s critical to succeeding with ANY marketing you invest him. Your sales funnel MUST connect to every product and activity that you engage in, to market your business. It’s definitely worth a listen if you just tune into this part because in my experience THIS single piece is what over 85% of businesses are missing when it comes to their strategy.
Here are the other 3 ways you can measure, tweak, and fine-tune your marketing activities.
1. Becoming aware of your email subscriber opt-ins.
If you do not have analytics set up to track your opt-ins it’s going to be impossible to track whether or not something is actually converting. The beginning of your funnel is your email subscriber in nearly all cases. But, if you don’t check in with your analytics to see if people are opting in, then how will you know if your list is growing? These can be found in your email service provider (ESP) (like ConvertKit-they are my favorite) or by using a 3rd party system like Lead Pages. You can also usually find this information by evaluating your opt-in form, I use a plugin called Bloom by Elegant Themes. But you can easily use the form created directly in your ESP. Regardless of how you track, it’s a good idea to compare all the entry points to be sure they are consistent with your subscriber growth.
2. Measure traction with our ad account analytics.
Add accounts, and especially analytics can seem overwhelming if you aren’t familiar with the backend. But don’t let the technology intimidate you. Learning even the basics can open up a wealth of information for you to understand your ideal customer, as well as, what is engaging them and what is not. Spending a little bit of time with your ad analytics will tell you the story of where to spend money on ads and where not to. For example, if all of your subscribers are on YouTube, you probably don’t want to spend a ton of money on Facebook Ads, you want to spend the money on YouTube. But without analyzing and testing, you wouldn’t have this information.
3. Google Analytics is your new best friend.
There is a wealth of information available on Google Analytics if you connect it to your website. Even if you NEVER run a Google Ad. It is definitely beneficial to take a high-level look at your analytics on a regular basis (once a month-ish) to see who is visiting your site, how much time they spend, and what brings them there. I mention the WordPress Plugin Monster Insights as a good tool to use. But you don’t have to have WordPress to utilize Google Analytics.
That’s a wrap for this week. I would love to hear what tool you are going to dive into to measure your marketing from this episode. Head on over to the Facebook group and let me know.
What did you learn from this episode?
Come and tell me in the Facebook Group. Not in the group yet? Consider this your official invitation to join the Small Business Builders Community in the Facebook Group. Small Business owners unite to feed each other with inspiration, information, experiences, and knowledge.
Listen to the entire episode here:
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