As great as it would be to have a demand generation marketing strategy built to “set it and forget it,” that’s just not how digital marketing works. Iteration is the key to navigating the matrix of demand generation strategy components to meet end users’ dynamic needs and to hit ever-growing business goals.
Whether your current digital marketing strategy has been running for months or years, auditing it for success will help your business meet the right audience with the right messaging to stay top of mind and promote conversions.
What Does Success Look Like for Your Business?
Your business is running a demand generation strategy to meet specific business goals. To know if your digital marketing strategy is successful, you need to identify what success looks like.
Here are some examples of conversions a successful demand generation strategy might yield depending on the type of business and goals:
- Sales/Revenue
- Brand awareness
- Online purchases
- Event registrations
- Demo requests
- Resource downloads
- Subscription sign ups
Once you identify your digital marketing strategy’s goal(s), you need to figure out how to best achieve them for your specific audience.
Use the following steps to audit your current strategies.
1. Break Your Strategy Out by Digital Channel
What channels make up your digital marketing footprint? List them and use data to decide if they are the best channels to reach your demographic.
Examples of digital channels include:
- Website
- Social media
- Media/Public relations
- SEO/Google
- Content
- Paid ads
2. Understand the Goals and KPIs for Each Digital Channel
What does “success” look like for each digital channel? How are you measuring that? Maybe how you were once measuring this is no longer the best way. How is your audience engaging with and converting through your current digital channels? These are important questions to ask while auditing your demand generation strategy.
In order to understand how your digital marketing channels are performing, you’ll need to identify the current Key Performance Indicators (KPIs) for each channel. With the most impactful KPI being conversion rate, here are some other examples of digital channel KPIs:
- Website KPIs: Traffic, unique visitors, bounce rate, page speed, Core Web Vitals
- Social Media KPIs: Unique impressions/reach, follows/subscribes, engagement (likes, comments, shares), Click-through rate (CTR)
- Media/Public Relations KPIs: Article placements, Share of Voice (SOV), CTR
- SEO KPIs: Keyword rank, organic traffic, organic CTR
- Content KPIs: Traffic, bounce rate, session length, downloads, CTR
- Email KPIs: Open rate, CTR, unsubscribes, sign ups
- Paid ad KPIs: Cost Per Click (CPC), Return On Ad Spend (ROAS), reach, CTR
3. Identify How Each Digital Channel is Currently Performing
Now that you have identified what the KPIs should be for each digital channel, it’s critical to understand if those channels are hitting their goals.
Run a full analysis on each channel to confirm performance data.
4. Highlight the Gaps Each Channel Currently Has
With the performance data of each digital channel laid out, you should be able to flag each area that needs improvement and where.
With these gaps identified, you now know what to solve for.
5. Strategize on How to Bridge Those Gaps and Meet Your Business Goals
Chances are, if a certain digital channel is not performing well, it may not reach the right audience.
Here are a few approaches you can try to remedy performance:
- Tweak segmentation
- Adjust demographic
- Survey customers/audience
- Augment messaging
- Perform a persona analysis
- Gather more data
Ready to ramp up your digital marketing strategy?
At 3 Media Web, we believe your demand generation strategy should always prioritize your customers. To implement a successful digital strategy, focus on end-user needs, consider all areas of your digital footprint, and make intentional, data-driven decisions. Meet with our experts to create persuasive, powerful experiences that captivate customers and produce your desired results.