How do you evaluate a marketing campaign that is only 9 days old? There are a couple key measurements when running a campaign. When you focus on these you get better results.
The previous campaign was doing around 10 to 15 leads per month at around a R5000 advertising budget. The cost per click was R15,78. The last campaign delivered 13 leads, and had a R3913 budget.
I redid the campaign (image above), and these are the key numbers so far (yes, in 9 days):
- Cost per click down to R2,94 (this means we are getting 5 clicks instead of just one)
- Leads have increased to 21 so far. This is X2 leads on the previous 10 (yes, leads doubled)
- Investment so far is R1300 less, at only R2692.
- Cost per lead dropped from R301 to between R238,11 and R14,72 per lead.
So what is next? The single biggest improvement you can make on a campaign is increasing the conversion rate. Currently the conversion rate is around 3%. On previous campaigns we have increased the conversion rate to 16% (and sometimes even better!).
So what? Going from 3% to 16% is not that BIG deal! Right? WRONG! It is huge!
WHY? Your investment in the campaign is the same; BUT the result is 433% better in this case. So instead of getting 3 leads, you get 16 leads for the SAME investment.
Just going from a 3% to a 4% is great. That is 33% improvement in your campaign.
Interested in more? Have a look at the Marketing Machine. It is a combination of campaigns and tools OR more advanced digital marketing campaigns (ideal if you invest R15 000 or more on campaigns and have a sales team).