There are two main types of metrics:
- Qualitative metrics focus on understanding how people feel about your brand or product. Qualitative data include customer satisfaction surveys, comments on social media, and reviews on reviews like Yelp. These data types can be used to understand what people think about your brand and make improvements where necessary.
- Quantitative metrics measure specific actions customers take after they engage with your brand. This type of data helps you measure the effectiveness of your efforts and optimize them, so they work better over time.
Marketing optimization helps you focus your resources on the channels generating the biggest return on investment (ROI). It allows you to test different ad creatives, landing pages, keywords, and more to determine which ones perform best.
How to Build a Marketing Optimization Strategy
Here are steps you can take to build a strong marketing optimization strategy:
Determine Business Objectives
The first step in developing a marketing optimization strategy is understanding and defining your organization’s business objectives. Marketing optimization focuses on improving your marketing efforts’ performance, but before doing that, you need to know what you want to achieve with those efforts.
Prioritize Optimization Activity into Campaign Road Map
After knowing what you want to achieve, you can prioritize your efforts by creating a campaign roadmap that provides a clear path from where your business is today to where it needs to be. The campaign roadmap should include all the necessary steps to get there, including adjustments and improvements along the way.
Organize for Optimization Success
Marketing optimization requires organizing resources to ensure that all of the necessary information is available when needed, whether it’s accessing data or having people available who are knowledgeable about different aspects of marketing attribution modeling, such as modeling team members or engineering support staff who can help with technical issues related to attribution modeling software tools or infrastructure changes needed for data collection and analysis.
Create a Culture of Data-Driven Decision Making
A data-driven culture leverages data to make better decisions, not just faster ones. It’s about sharing insights with everyone in the organization, from marketing to sales to product.
Measure and Communicate Performance
Make sure you’re measuring the right things so that you can understand what drives results and make changes accordingly. Then share those insights with your entire team so they can see how their work contributes to the company’s overall success.
Conclusion
A successful marketing optimization strategy will take time to create. To achieve the best possible results, you need to answer many questions, review and analyze a lot of data, perform A/B tests, and put together a tailored plan to your specific needs. The most important thing to remember during this process is that marketing optimization strategies are constantly changing, so it’s essential to regularly check in on the various aspects of your strategy and make adjustments as needed.
