The goal of every manager overseeing a marketing budget is to generate revenue while reducing wasteful spending. Marketers used to say that half of all marketing expenses were considered wasted money, they just wished they knew which half. Throwing money into marketing is well and good, but without analyzing the effectiveness of the marketing tactics, a company will be wasting resources and likely not create any additional revenue. Marketing RELEVANCE works with companies to show how proper tracking can help increase marketing ROI, allowing them to realize their goals, instead of viewing analytics as one more cog in the waste machine.
By tracking web traffic, click-throughs and other key performance indicators (KPI’s), companies can increase the return on their time and money, turning clicks into relationships. We like to think of tracking as a strategy that can get people where they want to go, rather than another line item in that marketing budget.
Mitch Levinson, Managing Partner at Marketing RELEVANCE said that “tracking in Google analytics reveals where the quality traffic is, so that each company can decide the best cost for each action. They’ll spend their money in ways that work, thus improving ROI.”
If a business invests in an eblast, a banner ad, a paper click, a billboard and a website, and continues to roll money into those efforts every month without assessing their effectiveness, they will likely waste money.
Mitch says “The first mistake people make is not looking at their analytics on a regular basis,” to break down how traffic is coming in, how long it’s staying on the site, and whether it leads to an action. Mitch calls this quality traffic. The next mistake companies often make is failing to set goals or milestones that will help to gauge traffic, growth and effectiveness.
We track analytics because they show us what works and what doesn’t, so that as Mitch says, “We only spend money on things that generate business.” The most beautiful graphic ad in the world isn’t worth much to a company if it isn’t contributing to the bottom line. Of course, not every agency or company has someone who is uniquely qualified to sort through data, suggest better strategies, notice trends that may not be obvious and help businesses drive the right kind of traffic. Analytic experts know “how to look through the noise, to track and connect to the buyer,” without ignoring the aesthetics of the brand.
Tracking is a significant part of the Marketing RELEVANCE strategy for our clients because our goal is for clients to use us as a strategic partner in their marketing decisions…which means driving results. To learn how we can help earn more effective traffic, contact us here.