How to Measure Your Digital Marketing Agency's Performance

               
Evaluating your digital marketing agency

If you want to make a lasting impact with your marketing efforts and decide to hire a digital marketing agency as an outsource, it is significant to designate the whole process beforehand.

Working with a digital marketing agency can turn into blind dating if you don’t know what you should expect and what you will get.

Thus, to ensure that your agency investments benefit your digital marketing efforts, you should know how to choose a digital marketing agency, what you should expect from them, what different types of services agencies offer, and what you should consider while evaluating your digital marketing agency.

In the previous blogs, we compiled every piece of information for you to find the right digital agency for your business needs and goals. Now, it's time to learn how you should measure your digital agency’s performance.

Below, you will find all the must-have steps to evaluate a digital marketing agency successfully.

Start with Identifying Your Marketing Goals

Whatever you want to achieve with your marketing campaigns, you should always identify your goals in advance. Thus, if you want to measure your agency's performance in the right way, you should do your homework beforehand and identify key goals before asking them to give you results.

You can use OKRs (Objectives & Key Results) to set up your goals.

OKRs will give you specific, measurable, achievable, relevant, and timely goals to follow in your marketing strategy.

In the OKR system, each team works toward achieving certain goals that will benefit the bigger goal of the company as a whole. As the digital agency you hire will be working as an extension of your company, you can include them in your OKR plans and ask them to provide related results to your OKRs on a regular basis.

Evaluate the Success of a Digital Marketing Agency with Metrics

Key performance metrics to evaluate the success of a digital marketing agency.

Ensuring your digital marketing agency is performing well is not only about being in control–but it's also about knowing what you should track.

Thus, to measure a digital agency's performance, you should know which metric and actions they need to take in every step of the reach, engage, nurture, and retain process.

Below, we’ve listed all of the useful metrics that you can use to measure the success of a digital marketing agency. You can ask for these metrics bi-weekly to ensure that your digital marketing agency is performing in the right way.

Reach/Attract

Whether you are an old-established company or a new one, you still need to create brand awareness strategies to introduce your products and services to your customers and generate website traffic.

If you want to reach your brand awareness and traffic generation goals you should take actions including ads, social bookmarking, social media posting, search engine optimization, content marketing, and link-building.

To track if the marketing agency that you hired is working towards achieving these goals, you can use reach metrics as a guide. Reach metrics include social media impressions, visitors, reach, engagement, and CTR metrics that show the effectiveness of these actions.

Key metrics to measure if your reach strategies are successful enough to reach your target audiences.

Engage/Convert

If your goal is to engage with your customers and convert them into ideal ones, you should take actions to optimise your conversation rate, such as UX improvements, website/app engagement, CTA’s, and remarketing.

You can track the effectiveness of these conversation management actions with attributions, page performance, conversation values, and audience growth engagement metrics.

Key metrics to measure engage/ convert channels.

Nurture/Close

Every marketing strategy has its strengths and weaknesses. If you think the nurturing part is the weak spot for your digital marketing strategy, you should focus on and ask your agency to improve your nurturing strategies.

Nurturing actions include account-based marketing, funnel-based pipeline management, “smarketing,” potential sales volume, and website engagement. By using leads, sales, and ROI metrics you can measure if your digital marketing agency is working towards your nurturing goals.

Nurture metrics

Retain/Grow

Would you like to turn your customers into champions and secure their loyalty? Well, then you should work with your digital marketing agency towards achieving retain metrics.

Retain actions include co-marketing, customer and retention management, and up and cross-selling.

Retaining your customers is all about creating a better customer experience and there’s a lot of space to act creatively. You can run polls, create case studies and generate useful content to engage with your customers and hear their feedback.

If you want to track if your agency is performing well under the retain actions, you can use promoter score, rate, and CAC (customer acquisition cost) metrics as a guide.

How to retain and grow your customers

Analyse and Adjust

Now, you have all of the metrics you need to measure your digital marketing agency’s performance. According to your business's needs, goals, strengths, and weaknesses, you can work with a digital marketing agency to improve your designated goals.

If you are working with a channel-specified digital marketing agency, you can use the related metrics according to their specialisation to measure their effectiveness.

From now on, all you need to do is analyse and adjust with your digital marketing agency to stay competitive and ensure consistent improvement.

NBT Growth Agency is Here to Help

As a growth marketing agency, we provide growth marketing consultancy services to help businesses build, accelerate and sustain growth to thrive in the future.

That’s why we create end-to-end digital marketing strategies for our clients and monitor, measure, and optimise their digital marketing strategies with OKRs and Test & Learn tactics.

With our proven “Growth Marketing Loop” methodology, we create unique digital marketing strategies and measure the success of every digital marketing strategy with related metrics.

If you want to work with a full-service agency that provides success metrics throughout your journey, you can check out our growth marketing & consultancy services.

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