The development and growth of online marketing is more evident than ever. For instance, social media marketing and search engine advertising have considerably taken up their respective and almost permanent places in nearly every marketing campaign of businesses. Businesses basically gained more advertising opportunities than they ever did before. Nonetheless, this is not to say that it is easy to choose the kind of marketing platform to use to boost or effectively advertise the business.
The marketing platform is constantly changing. It is a platform that continuously gains a range of options and selecting the proper combination can be overwhelming. Choosing the marketing combination also requires considerable time, effort and the mix does not even assure if it will make business promotion more effective or efficient. Ironically, it is not surprising for organizations and different industries and business to constantly feel the pressure of capitalizing on available resources while still ensuring cost efficiency.
There is no secret recipe for a successful advertising venture. The success of a marketing combination actually depends on the range of methods used along with the quality of content specific to industries. There should be a coherent organization of marketing platforms, methods and content to boost the effectiveness of the business promotion. Remember that despite constantly testing and adjusting methods, this does not need to be as vague as the trial and error approach. This is where the importance of close-loop marketing comes in.
Closed-loop marketing refers to the process of monitoring leads starting from their origin. Tracking can be done by looking at the conversion of the lead. This allows businesses to effectively measure if their marketing performance has been good. Basically, the process requires the simple act of “connecting the dots” among the platforms and methods of marketing used.
<ul><li>The following steps provide an idea on how closed-loop marketing is done: </li></ul><ul><li> </li></ul><ul><li>Determining and establishing the goals of the marketing campaign. </li></ul><ul><li>Selecting the marketing platform and methods. </li></ul><ul><li>Setting a budget for the whole process. </li></ul><ul><li>Acquiring measuring tools (databases, analytics, CRMS, etc.). </li></ul><ul><li>Evaluating the performance of the campaign. </li></ul>
Following the evaluation of strategies or the campaign, marketing optimization comes after. Nonetheless, it is important to note that all optimization efforts should still be aligned with the goals of the business.