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Measuring the Effectiveness of Your Marketing Funnel

By Jessica
September 01, 2020

You likely have many different acquisition channels that you are using to bring users to the site. This is common and necessary to drive users through the funnel. Each one of these channels likely has a different purpose. Some may be used to drive awareness, some may be used to create engagement, and some may make a strong attempt at acquiring patients or donors. In this video we will cover how to measure the success of each without creating an abundance of technical debt.

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Hello, my name is Jessica, and I’m from Anvil Analytics + Insights. And today we’re going to go through how to measure the effectiveness of your marketing funnel. So this is a topic that a lot of companies have questions about or may not be sure which way is the best way to do this. And in this example, we’re going to go through an example from a healthcare provider, but it’s really something that can be used across all industries. So we’re going to go ahead and dive in.

So the first thing that I think a lot of us need to understand is how our smart goals, how our campaigns and how the tactics that we’re using during these campaigns all really work together. So first and foremost, we recommend that all companies have two to three very high-level smart goals about how their marketing initiatives are going to actually impact their bottom line.

So from there, after you’ve identified the smart goals, you can kind of break those out into campaigns, so you can come up with a better strategy for how you want to actually achieve those smart goals. And then each of your campaigns will likely have several different tactics under it. And by tactics, I just mean whether that’s Google ads or you’re putting a big emphasis on SEO, maybe you have email marketing working for you, there’s all kinds of different tactics that these companies use to roll up to a single campaign, which should then roll up to your smart goal. So really understanding that from the beginning will help us later down the road really identify, what are the best metrics, how do we go about tracking some of these things?

So the next thing that we need to be aware of is that when we’re running these campaigns, you have users coming to your site or even people that are just getting the impression of your ad, they’re in all different stages of the funnel. So you have the people that don’t have any idea that they even have a problem or that a problem exists. Within a healthcare company, one of the things that we’ve seen before is trying to gain awareness of donor programs. So without some of these awareness tactics, some people may not even be aware that they’re eligible to be a donor for some of these, whether it’s an organ donor, if something were to happen or any kind of blood donation, any kind of those donations that you can do and be a part of that program. So driving awareness for those in the unaware stage.

And then you have the people that know that there’s a problem, but they don’t really know how to help. How do they particularly impact people that may need a certain organ or are on an organ donor list? Then you have the people that are more so aware of how they can help. They just don’t which company or where to go to reach out to help. And then you have the brand-aware people that know your brand helps this cause. They know they can go to you. And then after that, they’re more likely to be conversion ready.

So really identifying are we successfully passing people through each one of these stages is going to be extremely important in measuring the effectiveness of the overall funnel. Because quite frankly, somebody that’s unaware of any kind of donor program or anything is highly unlikely to see an ad on Facebook and then immediately go and sign up to be an organ donor. They’re going to have to learn more about the program. There’s a lot of different steps that they’re going to need to go through before they actually submit and make that conversion.

So like I said a couple of minutes ago, we need to align our audience with their appropriate action. So when we are targeting the unaware people, our main goal for those ads is really just to drive awareness of the program that we’re offering or some of the services that we offer. If we’ve driven that awareness, that ad or that tactic has actually completed its whole purpose. It’s whole goal was to drive awareness. If somebody saw a Facebook ad about a donor program, whether that be a video or images of kids or whatever that need a donor and they clicked through to our site, that was a success. That was successful for that metric.

Now some of the other ones, once they’re problem aware or solution aware and even brand aware, what we’re really shooting for is that they’re engaging with us somehow. They’re continuing to click through the site. They want to learn more information. So whether that’s signing up for a newsletter, whether that’s watching a video more in depth, all of these different things that we have on our site to get people to actually engage with us. Now, we wouldn’t just consider a page of you as engagement because you can land on a page and not actually read it. So in this stage of the funnel, we’re looking for those events that people are actively clicking on to engage with us.

So like I said, there’s a variety of different engagement metrics that we can use here. But what we like to do is kind of bundle them all together and say, “Okay, of the people that came to the site, how many of them are going through those next steps and are engaging with us?” And then obviously at the bottom of the funnel, we want to actually see how many people converted. So how many people signed up online to be an organ donor or how many people went through and registered to give blood? We want to know that, and that’s really what’s going to roll up then to if the campaign was successful as a whole and if our smart goals are really successful.

So the conversions is what’s going to tell us, was our campaign successful? Yes or no. But to measure the effectiveness of each one of these individual tactics, for example, Facebook ads, if their goal, if you’re targeting the unaware people and people click through to your site, yeah, they did their job. Let’s check that off as a success. Then if you keep going through, maybe you have some of those retargeting ads, maybe you have those email lists, things along those lines that people are actually engaging and consuming more content, and we can tell that with a tangible event that they actually went through and clicked something, let’s go ahead and mark that as an engagement metric. And if our tactics are good at getting people to engage and are encouraging that engagement, let’s go ahead and check that off as a success.

So really it’s identifying what stage of the funnel you’re targeting and really realizing where some of these engagement metrics fall. Or not even engagement metrics, but what is their goal, and did they complete that goal? So I know with engagement, I mentioned several different events that we would track in Google analytics, whether it’s PDF download, a newsletter submission, a video view, all of these things.

So in our Google analytics, one thing that we recommend for clients is whenever they go in and track these events, and the event category actually just name it client or prospect engagement, and then use the admit action to really identify what that engagement was. That way you can kind of group all of those together in your reporting process, and they all have the same event category.

So I hope this helps. I hope that helps break down how we’re going to track these conversions throughout the funnel and even some things that we wouldn’t necessarily consider conversions, but for each individual stages of the funnel, they’re success metrics for us. So I hope that helps. If you want to learn more tips and tricks, stay tuned, subscribe. We have a newsletter on our Anvil site where we’ll be pushing out all of our videos each week. So make sure you subscribe to that and have a great day.

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About the Author
Jessica joined the Anvil team after earning her degree in Marketing. She really enjoys getting to work on something different every day in her role, whether that’s helping with a Facebook project or solving an issue in Google Analytics. Her problem-solving prowess extends beyond work, too—she loves games and is her family’s pinochle champ.
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