Ever wonder, “is my marketing strategy working?”
If so, don't worry – you're not the only one 🙈
What surprises me about the online space is there are so many people teaching marketing strategies, but no one is teaching us how to measure whether our efforts are making an impact 🤷♀️
That's where a marketing measurement plan comes into play
What is a marketing measurement plan?
If you haven't guessed already, a marketing measurement plan helps you identify what marketing success looks like for your business so you can measure how well you are performing 📈
This means you have a clear way of seeing what you need to remove because it isn't working and what you should amplify to continue seeing results
Who needs a marketing measurement plan?
The short answer – if you are marketing your business, you need a marketing measurement plan, as, without it, you'll be flying blind
Marketing measurement plans are flexible enough that they can be tweaked to what is happening in your business and allow you to pivot when needed
For example, if you have a big launch, your marketing measurement plan would include metrics to help you achieve your revenue goal💰 so you know whether you are on target or not
You can then use this throughout your launch to decide whether you need to make any tweaks to be more efficient and make the most out of your marketing budget 💸
Once the launch is over, you can apply what you've learnt to get a headstart on your next launch rather than hitting the reset button – making launching more sustainable 🧘♀️
Want to know which marketing channels drive the most traffic to your website? 👇
How do I get started?
I've found the easiest way to start creating a marketing measurement plan is to start with your goal and then figure out what targets and metrics you need to achieve that
Let's go back to the launch example above 👆
Your goal is to make $15,000 during your launch, and your course is $1,000, so you know you need to get 15 students 🛒
📲 To measure your visibility, you may want to look at the cost per click for your paid advertising
📝 To measure marketing and content, you may want to review your overall traffic and how well your funnel is performing
🤑 To measure your sales and revenue goal, you may want to track your conversion rate and the number of upsells
Once you've got your measurement plan in place, you can start tracking each metric to see where the leak is during your launch