Would you make business decisions without measuring the success of your marketing campaigns? More people are looking online before they buy. It is crucial you measure your activity for optimised results.
These five measurements can support making the right decisions at the right time.
- Is there a need for your product? You need to understand what consumers problems are and how can your product be the solution. Undertaking market research can help identify pain points.
- Where are your customers? Do they attend trade shows? Are they social media savvy? Understanding how your audience find about your product and make sure you market through the right channel is imperative.
- In addition, are your customers buying on mobile? Link metrics (such as time on site) from the different channels to decide where to promote your product to the customer (Hosea et al.)
- Price is probably the highest factor of any customer purchase decision. Benchmark the price of your product with other competitors to remain competitive.
- The branding of your product or service needs to remain compelling and consistent to consumers. The promotional mix should communicate the benefit of a product to consumers therefore influencing their purchase decision.
By measuring successes regularly, you can drive key business decisions.