With so many different types of digital marketer, no two professionals ever rely on the same exact strategy.
However, there is one trait the most successful marketing professionals share: they’re willing and able to track each and every action they take (and the results).
With this in mind, let’s examine exactly what this means:
Track What You’re Doing
It’s as simple as that. You need to track every move you make. This can include but is not limited to the Facebook Ads you run, the people you communicate with on Twitter, and the links that you build to your site.
It’s not good enough to implement a strategy. You need to track every last detail associated with every last move. This may be an adjustment, but it’s well worth it in the end.
Know the Cost
In a perfect world, you wouldn’t have to spend a single dime on marketing related expenses. And while there are free methods for generating traffic and buzz, most marketers find themselves spending money at some point.
When you know your costs, you know if you’re staying within budget. When you know your costs, you know if you’re generating a positive return on investment (more on this below).
Reckless spending has sunk many companies. Do you want to join them? Probably not.
In point #1, we made it clear that you need to track the marketing methods that you’re using.
Now, it’s time to turn your attention to the actual results. Are you getting the most bang for your buck with Google AdWords? Are you losing money on Twitter advertising? Are you breaking even on Instagram?
Tip: the results you’re expecting may not be the same as another company with a similar approach. For example, a company in the fraud prevention industry has different goals and expectations than one in the vape industry.
When you track results, everything else begins to make more sense.
Return on Investment
It doesn’t matter if you’re spending $100/month on marketing and advertising or $10k+, it all comes down to one thing: return on investment.
There are companies that spend next to nothing on marketing and advertising, yet they’re able to generate millions of dollars in sales every year.
Conversely, there are companies that spend six figures each month, just to find that they are unable to turn a profit.
You’ll be tracking a lot of data, but there is nothing more important than your return on investment. You need to generate more money than you’re putting out. Enough said.
At this point, you realize that you have to track everything if you want to achieve more digital marketing success.
But don’t stop there. Don’t assume that simply tracking results is enough to put your company on the path to bigger and better things.
With each passing day, week, month, and year, you need to tweak your approach with the idea of generating a higher return on investment.
Sometimes you’ll make a move that pays off. Other times you’ll make a change that works against you. That’s okay. As long as you’re tweaking your strategy and tracking the results, you can live with what happens.
There are many digital marketing trends that will shape your approach in 2017. Each and every one of these has the ability to change your mindset, boost profits, and improve the future of your business.
Just remember this: it doesn’t matter what you do from a digital marketing perspective if you aren’t tracking everything. You need to understand your numbers!