Editor’s note: Mark Aronoff is the SVP, sales and growth at Marketing Evolution. This is an edited version of an article that originally appeared under the title “Marketing Optimization: 4 Steps to Get Started.”
Marketing today is so fast paced that it can be difficult to identify which campaigns are driving ROI, which aren’t and which you should develop to facilitate stronger growth. On top of that, there is so much data available that most people don’t know what to do with it all. The need for marketing optimization has never been stronger. As your campaigns evolve and mature, marketing optimization is crucial for addressing these challenges. By analyzing the information, you have you can truly understand how your initiatives are performing and where your budget should be spent.
Marketing optimization describes the process of collecting and analyzing data to measure and report campaign performance accurately.
When done right, marketers can gain a clear picture of the effectiveness of each aspect of a marketing campaign. This information enables informed decisions about what touchpoints and ads are working and which they may need to tweak.
A robust marketing optimization program can assist you in spending your marketing dollars as efficiently as possible. Whether your budget is expanding or shrinking, you want to know you are getting the best possible return.
Unfortunately, this is easier said than done. Marketers face a slew of attribution challenges including offline measurement, data quality, frequency effectiveness and so much more.
Whether it’s conversion rates, ROI or sales growth, marketing optimization will help understand where your money should be spent and let you focus on the KPIs that are important to your business.
Optimizing your marketing strategy is no easy feat and it will continuously evolve. To help you get started, let’s look at four steps you can tak...