Your team has a well-developed marketing plan you’ve been following to a tee. You’ve been collecting lots of data as you go to track how successful you are. You’re doing all the things you’re supposed to do, and yet you’re struggling to connect all the dots to see the big picture of how your efforts are performing.
Most marketing teams face this struggle. No matter how much effort you put into your marketing planning – defining your goals, employing marketing tactics you’re confident in, tracking your progress as you go – in short, checking all the boxes you’re supposed to – you have to be able to recognize what’s working to continually improve. As long as the data for your different teams and campaigns is stuck in silos or disconnected spreadsheets, you’ll have a hard time taking the informed steps you need to optimize your marketing plan.
The solution doesn’t have to be that complicated. A lot of improving your marketing planning process is simply a matter of viewing the information you already have in a way that enables you make a more sophisticated, actionable analysis of it. In three simple steps, you can start turning your data into improvements.
Step 1: Bring all relevant data into one place for review.
You can’t understand how well your plan is working if you’re only looking at small slices of the whole. In order to turn all that data into something you can understand, analyze, and do something with, you have to be able to see it all brought together in a way that enables you to make insightful connections.
Hive9 can help you bring all the information that lives in disconnected spreadsheets into one integrated marketing plan so you can better see how your programs interoperate. If different campaigns are helping strengthen each other, you’ll see it. If a tactic or campaign that seemed to be getting good results when viewed alone doesn’t look as great when viewed in comparison to your other efforts, you’ll see that too. An integrated marketing plan collects all the information you need (and probably already have) into one view, which puts you in a strong position to make effective revenue performance planning a reality.
Step 2: Do a thorough analysis with your team of what initiatives, campaigns and tactics are meeting their goals.
Now that you can see how everything relates, you can sit down and really dig in to what’s working. You can look at all the different campaigns, tactics, customer touch points and results to see how they’re all connected and the role they play (or don’t play) in bringing in new customers and revenue. Pulling all your data into Hive9 makes clear how each action in your integrated marketing plan relates to the end goals you’ve set, and where your current plan is falling short.
This is the step where you take the cold, hard data and apply human creativity to making clear sense of it. Perhaps your PPC campaign fell short of its goals because your team needs better CTAs or more relevant keywords, or maybe it was because of something unavoidable like being suspended by Google for a couple of days. Revenue performance planning is only possible when you can clearly see how each dollar you spend relates to new revenue that comes in. Having a more integrated view of your marketing efforts and their results makes it much easier to see all those connections and make the informed decisions that will make your company more money.
Step 3: Adjust the plan to better serve your audience and goals.
The analysis you perform in Step 2 should leave you with plenty of fuel to effectively optimize your marketing plan. You’ve identified which parts of your plan aren’t performing as well as they should. Now you need to decide the best approach to get better results. That may mean cutting spending from one area to move it to another, or it may mean revising the plans and priorities in each of your marketing channels.
An organized marketing optimization effort gives you the freedom to test with confidence and really see what works best. Each adjustment takes into account the impact on other programs, making real-time optimization a consequence-free reality.
Marketers today have an unprecedented amount of information to work with to gauge the success of their efforts and tweak their work to bring in the greatest ROI possible. The challenge is having the tools and know-how to turn all that information into action. Once you have the means to really see the relationship between your marketing efforts and their results, you can continually optimize your marketing planning to better meet your goals.Icon made by Freepik from www.flaticon.com is licensed under CC BY 3.0