Digital marketing is a vast and ever-growing industry. With so many evolving methods of promoting your brand and attracting new customers, it’s hard to know what’s working and what isn’t.
What if you’re investing time and money into strategies that aren’t quite working for you? And how can you measure what’s getting you the best result?
Different companies and industries use different ways to benchmark business growth. Whilst retailers focus on in-store visits and online purchases, others might focus on social media engagement and brand awareness.
There are some key benchmarks however that most companies will be able to use in order to track their success.
1 – Revenue
This is probably the most obvious of all. For 99.9% of companies, revenue is key. Even not-for-profits have a certain focus on making money in order to be able to re-invest it in their cause.
One simple way of tracking your progress is by seeing whether your overall revenue has increased. If the company isn’t making money, then obviously there’s something wrong.
Understanding the specific impact of your inbound marketing strategies on your revenue, however, is paramount.
Whilst your overall sales might be going up, if the sales revenue generated by your inbound marketing is low or non-existent then you are probably wasting your money or need to change your tactics. Continue reading