This is the last article in a series of four blogs: a step-by-step guide on Building and Executing a Successful Growth Marketing Strategy. You can read the previous article here. So far, we have elaborated on the process of achieving efficient Growth Marketing by way of the first 3 key steps: 1- Defining your Personas 2- Building Growth Funnels 3- Creating Growth Tactics In this last article, as the 4th step, we will go step by step Growth Marketing Analytics to show you how easy it is to monitor, measure and optimize your marketing plans (Growth Plan) through our Marketing Machine Suite.
Here we are, at the high point, where you can finally reap the harvest of your marketing plans and activities. When done correctly, constantly monitoring allows you to gain valuable insights and optimize your marketing strategy accordingly. Monitoring can be very overwhelming when you have to track various metrics for each funnel, positioning, or persona. And when you have more than one solution/product, the cumulative increase in every result and possibility makes it more challenging to gain actionable insights. The Marketing Machine comes to the rescue with the “customers’ favourite” reporting dashboard. Our marketing suite makes it very easy to monitor your growth funnel metrics, covering all components in one dashboard. It even allows you to compare your funnels based on many parameters (such as positioning, persona, landing page, etc.) and iterate your tactics according to your insights. Let’s see how:
There are numerous reporting variations on the Marketing Machine Suite, depending on what you would like to monitor your marketing plans. Here is a sample of what you can do with our platform- just a teaser of its awesome reporting feature!
a- All Funnels Report
The Marketing Machine allows you to consolidate and monitor all funnels at once. You can see that all the components are chosen as “all” on the dashboard screenshot below. The lead details at each funnel level can also be viewed by clicking on the corresponding level.
Picture 1: Consolidated report of all of the funnels on the Marketing Machine Suite
The sample report shows us that we have generated around 123K visitors and 1K leads from all of our landing pages. From 1K leads, we achieved 36 qualified leads and 9 of them turned into customers. And on top of all of that, we still have a potential sales volume of around 203K.
Here, we can aim at increasing our conversion rates on the visitor, lead, and qualified lead stages according to our average industry conversion rate. We can optimize our landing pages or exert some effort to avoid irrelevant traffic as a part of our ad targeting strategy.
b- Comparison Reports
As mentioned before, online leads can be analyzed and compared based on their funnels, positioning, and landing pages in one screen on the Marketing Machine. It is possible to generate numerous tactics and optimizations based on the results.
Comparisons allow us to understand how to adjust our marketing budget, decide which funnels and landing pages work best, and consider whether or not our content is relative to our personas, allowing us to identify which regions display more demand for our product/solution.
Let’s start with Solution-Based Comparisons, assuming we have two solutions under our Fin-Tech company: FIN Investment and FIN Trading. If we want to compare which solution achieves better results (on each funnel layer), we simply click on the “Compare Funnels” button and choose which service/product or solution we would like to compare.
Picture 2: Solution/product/service comparison on the Marketing Machine Suite
As you can see, it’s a smooth process! Our marketing suite makes it very easy to compare any component and gain actionable insights, removing the hassle of monitoring numerous excel sheets or online reports with different displays.
Let’s continue with another important comparison: Persona-Based Comparisons.
In our solution-based funnels, we create persona-based landing pages, so that we can measure the performances of different personas for the same product/solution.
Picture 3: Persona (positioning) comparison for the same solution/product/service on the Marketing Machine Suite
We can also perform Landing Page-Based Comparisons where we measure the performance of different landing pages for the same solution and persona (see Picture below).
Picture 4: Landing page comparison for the same solution/product/service on the Marketing Machine Suite
The Marketing Machine allows you to monitor all the leads in your CRM (Customer Relationship Management) System even when they are offline leads acquired from an event or referral. The following screen shows us how the leads entered manually into the CRM system can be analyzed by source.
Picture 5: CRM Funnels on the Marketing Machine Suite
As can be seen above, the Marketing Machine provides its users with a great UX/UI, making it easy for users with no marketing background or knowledge to utilize its features. Its advanced reports minimize any overlooked data or analysis and allow brands to build and manage a sustainable growth marketing strategy.
Even though the key metrics usually depend on the industry and the business model of a brand, most companies only track revenue metrics, ruling out other important data. However, they might be reporting and making decisions based on misleading or overlooked information.
There are very important metrics to be monitored depending on the growth funnels and growth areas. Below you can find a chart showing which metrics are considered essential at which funnel stages.
Where do you start to build a sustainable growth marketing strategy?
Executing a successful growth marketing strategy doesn’t have to be complicated, expensive, or time-consuming. It is now possible to build, monitor, and optimize your growth plans easily through our Marketing Machine Platform and with support from our growth marketing team.