Challenge: Are You Making Money?
Measuring your return on investment (ROI) is another challenge that marketing professionals face in the land of email and mobile marketing. In other words, it’s difficult for them to connect the dots between the messages they send out to prospective customers, and the moment when these subscribers get further engaged and turn into customers.
Interestingly enough, this problem is tightly connected to challenge number one - integrating email and mobile marketing with other data systems. When your marketing channels are not speaking to one another, it’s hard to identify how they affect conversions. For instance, you might see that your email blast got a 1.4% click-through rate (CTR), and your mobile message click through was 58%, but can you also see if that communication contributed to generating a new lead or better still, a sale?
Solution: Close The Marketing Loop
Marketing Applications like HubSpot do this exceptionally well. They have a great blog article here that breaks down the components of 'Closed loop Marketing'. Closed-loop marketing are those marketing activities that rely on data and insights from closed-loop reporting. In simple terms, “Closing the loop” just means that sales teams report to Marketing about what happened to the leads that they received, which helps Marketing understand their best and worst lead sources.
Follow a contact from when they visit your website , responding to your mobile keyword campaign, right through to becoming further engaged (watching your videos’, other web or mobile campaign pages, downloading resources, clicking on your email or mobile messages) to their final conversion point into becoming a customer. Implementing closed-loop marketing empowers you to track leads from their initial channel through a first conversion all the way to becoming a customer. Such intelligence, in turn, enables you to identify your most powerful marketing channels and assign clear value to each of them.