Results-driven marketing strategy is about changing and evaluating your metrics based on the current results and data your business has. It is an effective method that companies use to maximise their resources.
Results-driven marketing strategy is developed so that companies can reallocate their effort and budget to the marketing strategy that works and gives the most return. Following a result-driven strategy may give your company an opportunity to increase your overall profit. You can work with a company that offers digital marketing services so that you can do it more effectively.
If you are new to the business, here are four steps to creating a new strategy based on your previous performance:
Step 1. Gather all the data and information you need
Before you adjust and create your new target or goal, you have to have all the data about your previous marketing efforts. Add to that the relevant information you have about the business industry you are in.
Here are things you can include:
- Failed projects
- Successful projects
- Seasonal trends that affected your business
- What your competitors are doing
- Upward trends in the industry
- Downward industry trends that you should avoid
All these can help you focus on what works for your business. You can start by listing down what went well in your successful projects and what went wrong in your failed projects. Studying the competitors will also help you gauge how they play their game.
The current happenings in your industry can help you determine how to move forward while identifying seasonal trends can help you prepare if they happen again. When trying to change your game plan, you must review and analyse carefully all of the things surrounding your business.
Step 2. Create a new goal
Once you have looked into all business factors, it is time for you to establish your new marketing objectives. Create measurable goals that will bring your business towards the direction you are aiming for. Identifying a specific number for your business goal helps pave a clear direction for the business and its employees. With it, you and your employees know what to achieve for the business and when to pursue it.
Every business has different goals, but here are some examples of measurable goals to serve as your guide:
- Increase the number of your followers to __
- Increase the number of shares for your social posts to __
- Grow the number of your brand mentions on social media to __
- Raise the number of your conversions to __
- Grow the number of positive feedback to __
Step 3. Track your progress
Your new results-driven strategy does not end after creating a new business goal. You have to execute it and track your progress. There are many existing online tools today to help you make the data gathering efficient and possible. Use the best data-gathering tools for the platform you are targeting.
You can utilise a free digital marketing analytics tool to learn more about the performance of your social media. You can use visual behaviour analytics to determine information about your users’ screen time, how fast they stay on your page, what they clicked on the most, and more.
If you can, review and run your data weekly for better understanding of your business’s happenings.
Step 4. Review and Revise
The whole point of the results-driven strategy is finding the method that works well for your business and making the best out of it. In the last step, we encourage you to review your performance regularly and make adjustments based on it.
Your business needs to improve methods and goals continually—it is the best way to catch up in this fast-paced industry. Creating strategies based on the results of your previous and current performance can bring a huge and successful change to your business.