Without proper implementation of the different tools to track, monitor and optimize your digital activities you will end up wasting money and time without the ability to learn and improve.
Here are the main topics of this article:
- Funnel Optimization
- Message Testing
- Call to Action Analysis
“Take a risk and keep testing, because what works today won’t work tomorrow, but what worked yesterday may work again.”
Amrita Sahasrabudhe
At the top of the funnel are:
(1) the people who see your ad, marketing campaign, and email message—the total initial reach you have. From there, it trickles down to the number of those people who take action, which is why you need a strong call-to-action
(2). Those people who click will come to whatever page you put in front of them, which may or may not have another call to action
(3), such as, “Give us your email address,” or, “Buy now.” And as the funnel image implies, as more steps are added, more visitors fall off the wayside. The goal is to get as many people through the funnel through possible. How can you do that?
The formula is simple: Test. Measure. Iterate. Rinse and repeat.
Throughout the funnel process, there are opportunities to run experiments and track metrics to optimize the funnel and maximize the number of folks making their way through the funnel. If you haven’t heard of Click Through Rate (CTR) and Cost of Customer Acquisition (COCA), definitely do some homework. These metrics are critical “funnel metrics.” There are a slew of others you’ll want to know, like Lifetime Value (LTV), Average Sales Price (ASP), and Churn.
Given the funnel example from above, here are some straightforward ways to experiment and track metrics:
- Experiment with different ways to attract people (i.e. blog posts, paid advertising, social media activity, email marketing, etc.)
- Test “Call to Action” messages
- Analyze “Call to Action” messages, design, and language
Of course, running these experiments and testing results is only useful if you do something with the findings. Use the resulting metrics to make adjustments to marketing messaging, ad spend allocation, and so forth.
There is power in metrics, as long as you analyze and use them effectively!
