Marketing Campaign Analysis: How to Get Insights to Create Better Future Campaigns
When a marketing campaign comes to an end, it feels final. But, it’s not the end of the project. When you conclude a campaign, it’s time for the marketing campaign analysis.
What Is a Marketing Campaign Analysis?
A marketing campaign analysis is the formal review of the performance and outcome of a marketing campaign. It is the process you go through to review the results of a marketing campaign to see what worked, what didn’t, and how you can perform better next time.
Why Conduct a Marketing Campaign Analysis?
A marketing campaign analysis is the only way you can determine the success of your campaign and decide if and how you should move forward. It helps you:
- Determine if you reached your goals
- Decide if your goals are accurate
- Get insights to drive higher performance in future campaigns
- Determine if your budget is accurate
- Decide how to budget for future campaigns and goals
- Provide the information needed to show results to key stakeholders
With the right marketing campaign analysis, you can get the information you need to iterate your marketing efforts and create even more effective and successful marketing campaigns.
Related: 8 Steps to Start Strategic Marketing Planning
How to Review Your Marketing Campaigns
Once your marketing campaigns end, go through these steps to assess your work and draw out information that can inform your future marketing efforts.
#1) Compare results to your goals.
Start by referring back to the goals you set at the beginning of your campaign. If you laid out your campaign properly, you should have at least one specific, measurable result that you wanted to gain from the campaign and an estimate of what that result might be.
Pull your data, and compare it to your goals. Did you reach your goals? Did you miss them? How did results compare to your key performance indicators (KPIs)?
Need help setting marketing goals? Check out The Top 6 Digital Marketing Goals & How to Achieve Them.
#2) Determine if there were other benefits from the campaign.
In addition to analyzing your campaign to see if it reached your primary goals, also consider if the campaign created any other secondary benefits. Are there any benefits the campaign produced that you weren’t expecting?
For example, you may have run a social media ad to funnel audiences into signing up for a webinar, but you may have increased your number of social media followers as a result. Consider and document any positive (or negative) trends that occurred during your campaign.
#3) Review the campaign ROI.
Once you determine what you gained from the campaign, consider how it compares to the budget for the campaign. Measure the return on investment (ROI). ROI could be a clear monetary figure. For example, you may have run an ad to a sales page and are able to see exactly how much you spent compared to how much revenue you produced.
But, ROI may also be non-monetary. For example, you may have run an ad to drive sign-ups for your customer rewards program. The campaign may not have a direct impact on revenue, but you can tie your results to ROI by assigning a value to each lead.
Overall, consider the ROI as the value gained from the campaign against what it cost to produce that result.
#4) Identify your most engaged audiences.
With the right data systems, you can learn about your audience as you run marketing campaigns. You can use tracking systems to identify characteristics and traits of the people who were most engaged with your campaigns and begin to get a picture of your most engaged audience.
For example, if you run an ad on Facebook, you can use their reporting tools to learn about who clicked on your ad. You can see their gender, age, location, and other characteristics that can help you determine who to target with future promotions.
Related: The Top 9 Benefits of a Customer Data Platform
#5) Determine where audiences fell off.
Take time to break apart your campaign to learn more about what you did well or what needs improvement. If your campaign requires multiple steps to reach your intended outcome, consider the results for each step.
For example, you may have run a social media ad that asked audiences to enter their email to get a promotion code and then followed up with an email to buy a product from your website. This campaign had multiple steps to get to the intended goal. Break down the campaign to see the results of each step. Look at the results for:
- Click on the ads
- Conversions on the landing page
- Clicks on the email
- Sales from sales page
Analyze the result of each step. Did audiences make it the whole way through the series? Where did they stop? By identifying where you started to lose an audience, you can determine which step you need to improve or iterate in the next campaign.
#6) Decide how to iterate for future campaigns.
Once you go through a marketing campaign analysis, you should have insights and information to help you determine what you can improve in your next campaign. Now, consider what you might want to change next time.
- Change the Copy: Do you need to change a headline or piece of text? Do you need different messaging? Should you be promoting a different selling proposition or value to the customer?
- Change the Imagery: Were your graphics attention-grabbing? Did your images give off the feeling you want audiences to have?
- Change the Audience: Were you targeting the right demographics? Did you identify an engaged audience that you can target through audience segmentation next time?
- Change the Targeting: Were you targeting the right type of customers or the right location? What changes to your targeting could attract more of your ideal audience?
- Change the Call-to-Action: Was the call-to-action strong enough? Were you driving audiences to take the best next step?
- Change the Offer: Was the offer compelling enough? Did you offer enough value to get audiences to take immediate action?
- Change the Timing: Were you running your campaign at the right time? Do you need to update your marketing calendar and adjust the time of the day, day of the week, or even the time of the year for your promotions?
- Change the Platform: Are you running ads on the right platform or channel? Is there another channel that might be more effective? Is there a place where more of your audience spends time?
- Change the Budget: Did you have enough of a budget to drive the result you wanted to see? Do you need to increase your budget?
Related: Set Your Marketing Budget By Asking These 6 Questions
Drive Better Results From Your Marketing Campaigns
Marketing isn’t an exact science. What works for one brand might not work for another. The best way to produce real results is to run marketing campaigns, review your work, and continue to iterate to create better and better results.
Use these tips to conduct a marketing campaign analysis that allows you to learn from your campaigns and develop more effective future campaigns.
If you need help, MyArea Network is here to offer assistance. Our team has run hundreds of local marketing campaigns. We know how to launch insightful initial marketing campaigns and then review the result to iterate to create more effective future campaigns.
Talk to us about how we can accelerate your marketing campaign effectiveness. Schedule your call with our team today.