A marketing strategy is a flexible creature, able to adapt and grow as your business changes. But in order to track how that strategy is performing, you will need to establish some benchmarks—otherwise you won’t have a good idea of which practices are working and which are not. With these benchmarks, you’ll be able to hold your marketing plan accountable for an increase on your bottom line. Here are the 5 Benchmarks of Successful Marketing Strategies:
First Benchmark ~ Genuine Interest
This is the most overlooked benchmark in any given marketing strategy. Is there genuine interest in the product or service you are selling? The key word is “genuine” and this requires tracking and attention from the very beginning. All your friends and family loving your stuff is NOT genuine interest.
Second Benchmark ~ Steady Interaction
Step two is where most companies start paying real attention. Is the marketing campaign getting any “traction?” If you are running an ad, is its target web page getting steady hits? Are new customers taking that first step towards discovering your company? Is that happening consistently?
Third Benchmark ~ Exploration
Once you have them taking that first step, the next benchmark is getting them to take another one, or even another few. You piqued their interest and got them to do one thing but once they did that were you able to keep them focused and most importantly interested in learning more about your company? Are they exploring?
Fourth Benchmark ~ Consistent Call to Action Usage
The fourth benchmark is always a hang-up for businesses because they go in wanting a landslide. This when it’s helpful to remember that successful marketing is about consistency. If your strategy produces an early deluge after which there is a massive void then you ramped up for initial growth with nothing behind it. You want to have consistent calls to action from your clients—now and in the future.
Fifth Benchmark ~ Conversion
All marketing efforts should be held accountable to the end results of actual sales. Leads are great, but if a marketing effort leaves a herculean effort to close the deal for your sales team then it isn’t pulling its weight. Yes, it could be that your sales team needs some improvement, but marketing doesn’t get off free and clear either.
And this last benchmark—conversion— is the end point in revenue-accountable marketing.
So when you develop a marketing plan for your company, keep these 5 simple benchmarks in mind as you establish goals. Marketing plans change and grow, the market may go up or down, your business will evolve, but keep these 5 in your back pocket and your strategy will be successful every time.