It can take a while for the results of growth marketing campaigns to surface. At first, easy-to-understand metrics like ROI and number of qualified leads may not be that impressive. The early numbers may prompt growth marketers to abandon their ideas and campaigns. But quantitative metrics aren’t the only way to measure the effectiveness of online content and other growth marketing tactics.
Qualitative data sources, such as responses to social posts and surveys, can reveal insights that the numbers don’t. While percentages and calculations show what’s happening with your growth marketing efforts, subjective data says why. When used alongside quantitative information, qualitative measures help marketers achieve their campaign goals. Here are some of the most meaningful measurements to use and why.
Customer and Lead Sentiment
A growth marketing campaign may include webinars, blog posts, product guides, and social media posts. The typical goals of online content are nurturing leads and building customer relationships. However, your posts and content won’t do that as effectively if your audience doesn’t find them useful and engaging.
Yes, it’s good to create and promote content to reach your target audience. Those guides and messages can remind them why your business can solve their pain points. But how customers and leads perceive the information you publish determines whether they take the desired actions. Measuring customer and lead sentiment about your digital content can tell you if it will lead to results, such as conversions.
Surveys asking for feedback on webinars, live streams, and web pages can help measure sentiment. So does asking readers to comment on your blog and social media posts. Some survey and social media platforms offer sentiment analysis tools to streamline and automate the process. You can also send surveys to your email list or newsletter subscribers. Find out what content they like, what pieces don’t resonate, and what information gaps you want to fill.
Thought Leadership and Influence
Growth marketing strategies seek to increase brand awareness through thought leadership and industry influence. A sign that campaign tactics are working are like-minded influencers asking questions about potential partnerships. This could be guest bloggers pitching content ideas for a website or blog. It can also involve influencers asking about a company’s products and services in their online posts.
Indicators that you are building thought leadership and influence can extend beyond the internet. You may receive requests to speak or lead discussions at industry conferences. Business leaders and press contacts could receive more invitations to participate in joint press releases, news articles and feature articles. An increase in professional invitations and inquiries about partnerships shows that your brand is increasing its authority and credibility.
Brands that are more authoritative and trustworthy generally have more time to convert prospects and upsell to existing customers. Measuring thought leadership and influence can be tricky unless you’re already an industry leader or your brand is a household name. Unlike consumer sentiment analytics, there aren’t always automated tools to do the job. But you can look at indicators such as domain authority, backlink quality, and the caliber of potential partnerships.
Audience segment conversion drivers
In addition to raising awareness, growth marketing strategies focus on other phases or steps of the customer funnel. These steps are acquisition, activation, retention, revenue, and referral. Different audience segments or buyer personas can appear in each funnel stage. A persona can consist of price-sensitive consumers with large households. Another segment can be a group of leads motivated by status symbols.
Every audience segment has an important conversion factor. However, that trigger can vary in different funnel stages. Growth marketers need to discover those conversion drivers and deploy them in the right stages to appeal to target groups. You also need to determine what actions you want your different buyer personas to take at those different stages.
For example, the desired action may be for more price-sensitive consumers to sign up for bundled services. You may think that the conversion driver for this segment saves money. However, it may not be that simple or obvious. After all, a lower price or bigger discount won’t make you buy something you don’t consider valuable.
In this case, streamlined bank statements or services can be the conversion driver. This persona may also see value in meeting more household needs for less money. Look at the behavior and responses of different segments to different triggers to determine and measure what makes them buy. If buyer personas take the desired action, you’ve probably found a successful conversion driver.
Part of growth marketing is informing consumers about your brand and its offerings. Examples include explaining how products and services work and ways to solve common problems. The story of a company’s history and values and what the company does for the communities it serves are other illustrations.
Campaigns that perform well leave little room for consumers to question what a brand or company is and does. Prospects and existing customers must understand a company’s identity and products or services. For example, there is a gap if consumers don’t know that an ISP operates fiber optic networks and what makes fiber internet superior. There is also a gap if people don’t understand why that ISP can meet their needs better than the competition.
Online forms, pop-up questionnaires, and customer service call logs are some of the ways to measure consumer knowledge and understanding. Feedback from sales and service personnel about customer interactions and questions are additional methods. You can group open answers by theme or ask closed questions that use assisted recall techniques and examine accuracy.
Using Qualitative Measurements
Measuring the success of growth marketing campaigns takes more than raw data and statistics. Qualitative measures, including consumer sentiment and knowledge, should complement quantitative measures. When used properly, subjective insights can signal the effectiveness of growth marketing efforts long before more tangible results do. Most importantly, qualitative data will show which are the results that miss the mark and which ones knock it out of the park.