Internet marketing isn't a game where success can be guaranteed right out of the gate. However, I do believe in two key aspects of Internet marketing and success.
First, I believe that:
1. You can optimize your campaigns for success by using the right principles
Even though industries vary and tactics may change, there are still principles of internet marketing that can help move you as close as possible to that driving edge of success.
Secondly, I believe that:
2. There is a success solution for every business
Markets may change, tactics may be different, financial options will vary, but I believe that there is a successful solution that can be found for every business, and, in our case, it's our job to find it. This can be done by both going off of successful principles and experience, but sometimes it takes some out-of-the-box thinking to get things moving forward.
All that being said, let's take a look at how to lay the foundation of success for your internet marketing strategy.
Laying the Foundation For Internet Marketing Success
1. Start by Tracking & Evaluating Data
The first key to success with your internet marketing strategy is going to be data. This involves both tracking and gathering, and will include things like Google Analytics event tracking, call and sales tracking, traffic evaluation, company sales statistics, closing ratios, online conversion data, buyer persona data, and more.
This could feel odd to companies who aren't used to working with a data led marketing company, but it's an absolutely imperative stage for knowing three things.
A. What's needed to be successful
This includes evaluating how many sales are needed to make the marketing process provide a successful return on investment.
B. What qualifies as a success metric
Not all success metrics are created equal. We believe that success should ultimately be tied to sales and sales volume. But, for companies just starting out, success metrics may be on other levels and include things like traffic growth, rankings growth, and lead volume growth.
C. Where things were at before marketing efforts began (the baseline)
There's more to this, such as evaluating the rise and fall of buying seasons, but, essentially, you want to lay the baseline for what kind of business is being brought in without any added marketing efforts. This can help with gauging the success of the up and coming marketing campaign.
2. Have a Clear Growth Plan in Place with Revenue Goals for Your Company
Having a set plan for revenue growth is one of the best ways to set yourself up for success. This helps marketing companies lay out clear efforts with goals in mind. It also helps inform what items should be listed as success metrics, giving clear benchmarks that everyone can see and evaluate marketing efforts with.
The goals needs to be realistic. This includes budget and marketing position. In other words, if you're just starting out as a company, there will be a development period for getting a marketing engine going that has successful ROI. Also, a limited budget may not allow you to hit your original revenue goals and they may have to be re-evaluated. This is fine and just means that some adjustments will be necessary.
3. Develop an Internet Marketing Plan That's Based on Data & Goals
The other day we talked to a business owner who received services from an SEO company who laid out an entire marketing strategy without examining analytics or webmaster tools. Unfortunately, this can cause targeting issues when the marketing plan is implemented.
Data gives marketing companies and their clients the ability to make strategic decisions - decisions on where to pivot if a certain tactic isn't the most efficient, or bearing fruit. Gut instincts can have their place - but not often. Data should be what's informing marketing decisions.
One example of the targeting issues caused by not building campaigns from data can be seen in a campaign we evaluated several years ago. The company had done a great job ranking keywords from a technical standpoint, but the client reported no growth in revenue.
The problem was that, the marketing company could have brought in a bunch of leads. But, because event tracking, call tracking, and a baseline hadn't been set, the business owner wasn't "feeling" that much business was coming in through the SEO services.
This situation is unfortunate because it hinders both companies - not just the business owner.
4. Incorporate a System of Regular Communication
Monthly meetings should be a given "to do" on your list. This is important as it helps inform you on:
A. Where things are at now in the campaign
B. What successes can be seen (in relevant metrics)
Note: This should include closing the loop on sales that have been made (sales informing marketing on what has been generated from their efforts)
C. Any iterative changes that should occur (based on data and goals)
D. The continuing plan moving forward
5. Plan to Build on Your Successes
When goals are met, have a plan in place to build on those successes with ideas and other tactics to try. This is something that should be naturally developed as both you and your marketing company are meeting regularly to discuss the strategy in place and how things should continue forward.