Ninety percent of new internet businesses fail within the first 120 days. There are many reasons for this, but I want to focus on one area that greatly impacts that high percentage rate: failure to closely monitor the effectiveness of marketing efforts and/or not knowing how to use information obtained through monitoring. This article will give you tips on how to monitor your online success and how to use that information to grow your business.
Many internet marketers do a fantastic job planning and implementing their marketing strategies, but fail to strategically check their effectiveness. This results in lost opportunity to improve in areas not providing a positive return and capitalize on areas that are doing really well. It oftentimes results in business failure as demonstrated by the large number of startup failures. An internet marketing campaign is the same as any other marketing campaign: you must continuously analyze results to decide which methods are effective and which are not, and adjust accordingly.
There are three basic elements in analyzing and measuring the results of your marketing strategies.
Use your website logs to determine where your traffic is coming from and where you have the highest conversion rate.
Determine which methods are most successful and expand on them to increase your success.
Discontinue using strategies that fail to give good results.
Website logs provide valuable information for monitoring your marketing strategies. Most website hosts allow access to this information. If yours doesn’t, or the information it provides is not sufficient, there are software programs available to help you analyze and measure your marketing efforts. Use this data on an ongoing basis to continually make the necessary improvements to stay competitive in your niche.
Capitalizing on your successes, i.e., focusing on strategies that provide the most return, is a fundamental business principle. However, don’t allow yourself to become complacent by thinking once you’ve identified a winning strategy everything will flow along smoothly. Markets and effective marketing strategies change constantly. Your continual success will require ongoing monitoring and adjustments to your campaign.
Reduce your marketing costs by eliminating ineffective strategies. Don’t be fooled into thinking it will improve over time or that something is better than nothing. Money and time invested in an unproductive area would be better spent expanding in areas that have proven successful.
An effective marketing campaign is built on thorough planning, market research and campaign design; but, most importantly, dedication to constantly monitoring and improving your strategies. Expand on those techniques that work well and drop those that do not. Investing the necessary time and energy to measure, analyze and make required changes will ensure you are not part of the 90% mentioned at the beginning of this article.
George Wilson operates an internet marketing and SEO consulting firm that specializes in helping small businesses acquire more clients by using new media marketing. George possesses an extensive background in SEO Services and is an accredited project management professional. His success is a testament of his commitment to his customers. If you are ready to take your campaign to a higher level, visit his site at SEO Management Group.