As the owner of a small business, you’re probably well aware of the fact that you should be spending your fair share of money on marketing each year. The U.S. Small Business Administration recommends that small businesses spend about 7-8% of their gross revenues on marketing.
But it isn’t enough to simply spend money on marketing on behalf of your small business. You also need to learn how to measure your marketing success. The more marketing success stories you have, the better off your small business is going to be.
Here are a few ways you can tell whether or not you’re running successful marketing campaigns.
Keep an Eye on Your Website Traffic
When you’re in the process of running a marketing campaign, you should be able to gauge your marketing success based on your website traffic. This will be especially true when you’re running a digital marketing campaign.
During this kind of campaign, you should direct people to visit your company’s website. You can then watch your website traffic to see your marketing campaign’s success.
You can also take the same approach to gauge the success of a social media marketing campaign. The more activity you’re getting on your company’s social media pages, the better your campaign is working. Learn more about social media marketing in this blog article.
Pay Attention to Your Sales
In addition to keeping a watchful eye over your website traffic and/or your social media traffic, you should also look at your sales when monitoring marketing success. You should see an increase in sales during a marketing campaign.
If your sales remain stagnant during a marketing campaign, it won’t be a good sign. It’ll indicate that your marketing campaign wasn’t as successful as it should have been. It will also indicate that you might be losing money while marketing your small business.
Monitor Your Brand Recognition
When you tell other people about your small business, do they know what it is? If they don’t, this suggests that you’re not achieving as much marketing success as you might like.
When you’re running successful marketing campaigns, you should notice more and more people getting familiar with your brand. You shouldn’t have to explain what your business is all about to people thanks to your marketing success.
There Are Many Ways to Measure True Marketing Success
Measuring your small business’s marketing success is important. If you don’t find a good way to measure it, it’s going to lead to you wasting money on marketing in many cases.
Use some of the methods we’ve described here to see how successful your company’s marketing campaigns are. They should shine some light on what your business is doing right (and wrong!) when it comes to marketing your products and services to the masses.
Find more marketing-related tips and tricks by poking around on the rest of our blog.