Someone once asked me what’s my occupation? I told him that I was a marketer. The next question was what were my plans for the future. I didn’t know precisely what to answer because I didn’t have a vision. That person touched a painful point in my professional life back then. “If you’re working in the marketing industry, then you should know very clear what you want to do. Either way you’ll get lost.”

And he was right. Marketing is a science. Since I’m a marketer, I need to set up goals, objectives and measure constantly how I do against them through the right KPIs. Yes, there are KPIs even for productivity at work and anything that you can measure in life. This is the definition of performance to me.

In this article, you’ll figure how to analyze the current status of your performance marketing campaigns and identify the painful areas that are stopping you and your team from achieving your greatest goals at work.

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First of all, you should know that there are three major elements that guide any marketing department from companies that sell online products and services:

  1. Branding
  2. Traffic
  3. Conversions

Without any of these three elements, you cannot achieve the business goals. Here’s why: if you have traffic, but you don’t convert it, you can’t increase sales and grow your business. On the other hand, if you have conversions, but people do not know your brand, you’ll find it difficult to retain customers for the long term.

performance--marketing-trinity

The balance between branding, traffic and conversions is more likely something that a marketer acknowledges through testing and experiencing various tactics on a website. To have a clear idea of where you should start, I recommend using a simple method to analyze your current status of your marketing – the wheel of CRO.

The wheel of CRO is method that follows the wheel of life, which you have probably encountered by now. At Omniconvert, we have used the principle of the  wheel of life and replaced its components with the specific performance marketing components.

Performance marketing components orientated on conversions

  1. Branding
  2. Traffic
  3. Conversions
  4. Methodology
  5. UX/UI
  6. Innovation
  7. Research
  8. Great people

wheel-of-cro

What you have to do is evaluating each component by giving grades (from 1 to 10) and then establish priorities.

To evaluate each part of the wheel, you should consider answering some questions. My advice is to give honest answers to yourself to improve your work and ease your life.

1. Branding

  • Do you measure NPSNet Promoter Score?
  • Have you identified your VIP customers? (we’ll show you how to do it in a future post on our blog)
  • Do you know how you differentiate on the market?
  • Are you using the differentiators in your communication – website copywriting, offers, email?

2. Traffic

  • Do you know how much do you spend on each channel?
  • What’s the return on investment – ROI of each channel?
  • Is your traffic relevant?

3. Conversions

  • Do you know the conversion rate for each important segment of traffic?
  • Have you spotted the anomalies in conversion rate across segments?
  • Do you measure conversion rate constantly?
  • Do you manage to increase conversion rate monthly?

4. Methodology

  • Do you have clear procedures for each process within the marketing department? Research, Quantitative data analysis, CRO,  advertising, email marketing, qualitative analysis, affiliate marketing etc.?
  • Does every employee form the marketing team know why and how they should do what they do? Is it clear for them? Do they take responsibility for what they do?

5. UX/UI

  • Have you figured by now what’s stopping visitors to pass from a stage to other in the sales funnel?
  • Are you 100% sure that there is no technical barrier that is stopping visitors from converting into customers?
  • Do you have UX KPIs? Do you monitor them?

6. Innovation

  • Are you constantly innovating or just copying your competitors?
  • Do you generate insights constantly?
  • Are you or your team mates bored?
  • Are you innovating towards your value-chain?

7. Research

  • Do you have a web analytics specialist?
  • Does anyone in the marketing department come up with insight from Web Analytics weekly?
  • Is there anyone in the team who is analyzing qualitative data?

8. Great people

  • Are your people well trained? Do they read and learn constantly?
  • Are they motivated? Do you motivate them?
  • Do you and your team mates know how to get in peak state every day?

Finally, when you managed to grade each part of the CRO wheel, order the grades form the smallest (the smallest grade is the first one in list) to the greatest. Then take the first three and start working on a plan to improve them. Don’t do anything else until you manage to raise the grades for the three components until the next evaluation in three months.

Use the wheel of CRO constantly. I suggest doing it for four times a year, but any frequency you choose is good because it depends on you and your company. Also, the wheel is working only if you adjust it based on your company’s needs. If you get stuck with one of its components, it will itself get stuck as a whole. Good luck at making it spin!

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