How to Measure the Effectiveness of a Digital Marketing Campaign

In today's cut-throat economic environment, businesses are tightening their budget, often cutting marketing expenses first.

But soon after, these businesses realise that their approach is wrong and the impact of reducing their marketing spend is a loss of significant potential revenue.

The underlying problem is that companies cannot track the progress of digital marketing campaigns effectively.

Many companies struggle to measure the success of their campaigns due to a lack of technical expertise and resources.

The complexity of tools such as Google Analytics and CRM integration tasks often leaves their employees overwhelmed.

Without proper tracking and analysis of campaign data, businesses are wasting their marketing budget, time and effort on campaigns that fail to deliver any result.

Monitoring campaign performance provides actionable insights, which helps separate the digital marketing strategies that work from the ones that don't.

This enables businesses to optimise their strategy and maximise their ROI.

To combat this problem, businesses need to learn about the right tools, methods, and strategies to track, analyse, and refine their digital marketing campaigns, which will take a lot of time and effort.

Whether that's through partnering with a reputable digital marketing agency Brisbane or trying to tackle it on your own.

Let's explore how tracking and monitoring your marketing campaigns would provide a better ROI for your digital marketing efforts.

Benefits of Tracking Campaign Performance

Let's talk about some of the most crucial advantages that you can get by effectively tracking your digital campaign performance.

Track ROI

Tracking ROI is essential for measuring the profitability of your digital marketing campaigns.

While metrics like views, CTRs and engagements are important, ROI provides you with the best picture about the overall success of your campaign.

By monitoring the ROI generated by paid social media advertising or Google Ads, you can determine if enough of your target audience is buying your products, justifying the ad spend.

Explore New Marketing Angles

Tracking campaign performance can help you identify new trends and topics that resonate with your target audience, enabling you to explore untapped marketing opportunities.

Creating fresh content pieces around this new marketing angle helps create a lasting impression on your potential customers, helping you stay ahead of the competitors.

Why ROI Should be The Primary KPI For Measuring Campaign Success?

Is your marketing campaign profitable for your business?

The best way to answer this question is to look at the ROI the campaign generated.

Unlike other vanity metrics such as impressions, clicks, and engagement ratios, ROI directly ties your marketing efforts to financial outcomes, making it the primary KPI for measuring the success of any digital marketing campaign.

It becomes especially important for businesses to meticulously track their ROI when their budget is tight to ensure every dollar spent generates a measurable outcome.

Tracking ROI also helps in identifying campaigns that are generating little or no results, reducing budget wastage.

ROI encourages efficiency and accountability.

It pushes marketers to optimise their digital marketing strategy so the business goals are met without wasting budget.

This shift in focus moves businesses away from chasing superficial metrics and towards chasing tangible profitability.

Businesses can identify assets that provide long-term value by analysing and comparing monthly ROI reports.

For example, a content marketing campaign might have an immediate lower ROI but later can generate sustained traffic and leads with a lower budget.

By tracking ROI and comparing the reports, businesses can balance their marketing spend on campaigns that generate both short-term gains and long-term growth, ensuring profitability and sustainability.

How CRMs Can Help With Campaign Performance

Let's look at a few ways how setting up a CRM can help you track your campaign performance better:

Campaign ROI Measurement

CRMs link marketing efforts to revenue by tracking which campaigns generate leads, sales, and customer retention.

Having all this data enables businesses to calculate ROI accurately, ensuring budgets are allocated to the most effective digital marketing strategies.

For example, many CRMs have a campaign management module for tracking costs and revenue, making it easier to make smarter marketing decisions that maximise profitability.

Centralised Data Tracking

Many CRMs like HubSpot collect data from multiple sources such as websites, emails, and social media, and ads and presents them in the centralised CRM dashboard.

This gives marketers a holistic view of the overall campaign performance.

This feature eliminates time loss tracking data on various platforms and helps marketers focus on building strategies that meet your business's digital marketing needs.

Marketers can even identify new trends by analysing how potential customers interact with campaigns across different channels.

Automated Reporting

Setting up a CRM enables automated reporting, streamlining the process of tracking and analysing campaign performance.

Instead of manually compiling data, marketers can use a CRM to generate real-time reports based on campaign performance across multiple channels, saving time and reducing efforts.

With real-time insights into lead generation, customer interactions, and conversion rates, businesses can quickly adjust their strategies to achieve better results.

Faster decision-making capabilities in digital marketing often translate to improved ROI.

Measuring Multi-Channel Campaign Performance

Whether you are running campaigns for enhancing your website's search engine optimisation or boosting your social media business profiles, a CRM will consolidate the key performance data, providing marketers with a clear view to identify what's working and what's not.

In both business and productivity, the 80/20 rule suggests that 80% of the results come from 20% of the efforts.

Not so surprisingly, the 80/20 rule applies in the world of digital marketing as well.

Identifying marketing channels that provide a better ROI and increasing your marketing budget for those channels will help you reach your business goals even with a low budget and less effort.

A/B Testing And Optimisation

To attract loyal customers to your business, you might just need to make some minor adjustments to your campaigns.

It can be changing the colour of your button, repositioning your copy, or making slight alterations to your CTA.

The easiest way to test which version of your campaign drives more engagement and conversion is doing A/B split testing.

Businesses can use the test data to identify and invest in campaign versions that generate a higher ROI, maximising profits.

Tracking Customer Journey

Businesses can map and track the journey of their loyal customers from initial contact to conversion and upsells using a CRM.

By monitoring customer interactions across multiple touchpoints such as emails, website visits, and social media, valuable insights can be gained.

These insights help the marketing team develop personalised copy that speaks to their ideal audience, improving conversion rates and reducing ad spend.

Enhanced Lead Management

It is a huge loss for your business if you lose potential customers just because you forgot to follow up with them.

Setting up a CRM properly ensures that this doesn't happen to you as it effectively captures, organises, and tracks your leads and assigns them to the right sales rep for timely follow-ups.

With inbuilt lead scoring, segmentation, and nurturing features, CRM helps businesses personalise outreach and prioritise high-quality leads.

Monitoring Sales And Marketing Alignment

For maximising conversions, your marketing and sales team need to work together.

CRM makes it easier for both teams to collaborate and share crucial data, which enables both teams to perform better.

Gaining access to personalised data and demographics of the lead helps the sales team build a connection, boosting the chance of conversion.

With first-hand data and personalised insights from the sales team about consumers, the marketing team can come up with better campaign ideas that address the pain points of ideal customers.

Which CRM Is Right For You?

There are a lot of CRMs out there and selecting the right one can be a bit overwhelming.

We have narrowed it down to CRMs and discussed how it can benefit your business so you can take a well-informed decision.

HubSpot

With HubSpot's trend reporting, it is easy to track the total revenue generation from both offline and online interactions.

Revenue is the most important metric for determining the failure or success of an online campaign and HubSpot makes it very easy to track the total revenue generated from one centralised location.

HubSpot offers businesses with a full range of marketing, sales, and customer support tools.

The integrated tools make it possible to do automated reporting and create custom dashboards, making it easier to do performance analysis.

BFJ Digital is a proud HubSpot partner agency, and can help assist developing, integrating and managing your HubSpot CRM to enhance your digital marketing.

Salesforce

Salesforce CRM empowers businesses to track and monitor performance through its comprehensive analytics and reporting tools.

It collects data from sales, marketing, and customer service tools to provide a 360-view of operations through a centralised dashboard.

Salesforce's built-in AI Einstein helps identify new opportunities and predict emerging trends.

You can also automate repetitive tasks using the AI tech across various applications of Salesforce.

Salesforce comes with an intuitive dashboard offering visual representations of real-time metrics like conversion rates, campaign ROI, and customer retention.

Our Salesforce Brisbane agency can help you improve your business journey and digital marketing success.

Zoho CRM

Zoho CRM offers a range of services under one cloud-based solution. From sales, marketing, customer support to financing, project management, eCommerce, Zoho has applications for all.

Zoho comes with reporting and analytics tools for detailed insights into key metrics for monitoring marketing performance.

The dashboard can be customised and automated reports can be generated using Zoho.

Much like Salesforce, Zoho has its own AI Zia which offers both predictive and trend analysis.

If you're looking to utilise Zoho, our Zoho CRM specialists offer end-to-end solutions that focus on achieving your business's goals.

Enhance Your Digital Marketing Game With BFJ Digital

What makes you stand out from your competitors today?

Everyone has an online presence these days, making it a bare minimum.

What makes you truly stand out is having a strategic, creative, and precise approach for your marketing campaigns.

With us as your very own Brisbane digital marketing agency, we specialise in transforming your digital marketing efforts into measurable success stories.

From content marketing and SEO services that captivate your audience to programmatic advertising and Google Ads campaigns that target the right audience at the right time, we do it all by crafting effective campaigns that deliver results.

But, that's not all.

Our design and UI/UX services are tailored to create visually stunning, user-friendly experiences that connect with your audience, leaving a lasting impression.

We don't just create.

We measure, analyse, and refine our strategies to make sure they give you results.

And by results, we mean ROI strictly, not vanity metrics such as impressions, engagement, and CTRs.

Get in touch with our team to find out what BFJ Digital can do as your digital marketing agency in Brisbane.