Calculate Your Impact by Monitoring Marketing Metrics to Quantify Your Success
Estimated Read Time: 3 minutes
Intended Audience: Microsoft Partners, B2B Marketing Strategists, B2B Business Owners
In our 5-part series on digital marketing strategies that Microsoft Partners can use to differentiate and perform, we are sharing tips for solidifying your digital strategy to help you compete in 2023 and beyond.
In this blog, we will discuss Part 4 of 5 in the strategic B-E-A-C-H framework, Calculate. Once you’ve taken a personalized approach to content creation, you can quantify your success by calculating your impact.
By implementing the 5-part BEACH framework: Benchmark, Expertise, Approach, Calculate, and Habitat, you can generate demand online and position yourself to achieve award-winning, measurable results.
Brand Awareness Is Difficult to Quantify
Brand awareness can be hard to track, especially if you are not tracking the right metrics. You could be doing everything right, but if your data is not accurately representing the results of your efforts, you won’t be aware of what needs to be changed and what can stay the same.
While ROI is easy to quantify for sponsored content, such as paid search and video ads, you can still calculate and quantify the impact of your online marketing efforts by monitoring various metrics pertaining to your content.
Why Paying Attention to Marketing Metrics is Important to Calculate ROI
While benchmarking, showcasing expertise, and creating personalized content are all extremely important to define a successful marketing strategy, being able to quantify and measure your results is perhaps the most crucial element. To determine whether your marketing efforts are paying off, you must closely track website performance metrics.
There are various metrics to focus on that can vary by industry and audience, but for Microsoft Partners, we recommend keeping track of the following to help you calculate your impact:
- Overall Website Traffic
While analyzing website traffic is a great starting point to determine a website’s popularity and visibility, pay attention to bounce rate and time on page to determine if the content on your website is resonating with customers. Website traffic does not amount to much if visitors are almost immediately leaving without engaging.
- Unique Website Visits
Monitoring unique website visits will help you determine how many people have visited your website and can be more useful than overall website traffic in calculating your impact. While repeat visits are beneficial, focusing on unique website visits is useful to measure growth in brand awareness.
- Organic Website Traffic
This counts visitors who find your website through search engines without clicking on an advertisement. Unlike overall website traffic, organic website traffic eliminates visitors from paid search campaigns, direct website traffic, email traffic, referral traffic, social traffic, etc and shows you the result of your SEO efforts.
- Top Performing Webpages or Resources
Keeping an eye on your highest performing webpages can help you identify what is working, so you can incorporate those aspects into other pages across your website. Then, take your digital strategy further by adding Call-To-Actions (CTAs) to your highest performing pages to increase chances of conversion.
- Conversion Rate
Monitoring the percentage of visitors that take an action on your website is perhaps one of the most important metrics that provide insight as to how well your site is performing at turning visitors into leads.
- Marketing Qualified Leads (MQLs) to Sales Qualified Leads (SQLs)
Tracking the number of marketing leads that have turned into sales qualified leads can help you measure the impact of your inbound marketing efforts to increase brand awareness, consideration, and ultimately, decision-making.
- Opportunities to Deals
Obviously, tracking the number of opportunities that turned into deals is a great way to determine whether your marketing strategy is working and what can be improved.
- Marketing Generated Revenue
While tracking MQLs to SQLs will help you calculate your impact, ultimately, paying attention to the percentage of leads that turn into paying customers will help you calculate the ROI of your marketing efforts and determine where changes and improvements are needed.
Use Marketing Metrics to Define Your Marketing Strategy
Once you’ve properly defined what metrics you want to calculate to give you an accurate picture of the results of your marketing initiatives, you can use the data you receive from calculating these metrics to determine your impact and come up with your strategy going forward.
Be sure to keep an eye on metrics as soon as you launch any marketing initiatives, so you can track changes over time and get a clearer picture of performance. Keep in mind that focusing on any one metric is not enough to determine the results of your marketing efforts – look at the bigger picture to calculate your impact.
Stand Out in a Sea of Competitors by Calculating Your Impact
Calculating your impact by monitoring your marketing metrics to quantify your success, part 4 of our strategic BEACH framework, will help you pivot your marketing strategy for maximum success.
Stay tuned for the final part of our 5-part series on the BEACH framework for Microsoft Partner Marketing Strategies for Success, in which you’ll learn how to generate the right Habitat for potential buyers. Next time, we’ll talk about how to attract prospects by creating a hub of informative resources.