As the calendar turns to 2024, we’re focused on assessment, reflection, strategic planning, and buying tons of gifts for our family and friends.
This comprehensive checklist delineates essential projects and tasks tailored for both marketers and affiliate managers, ensuring a thorough conclusion to 2023 and a well-prepared start to the upcoming year.
For Marketers:
1. Performance Analysis and Reporting
Evaluate Campaigns:
- Delve into comprehensive performance analysis across your marketing channels – social media, email marketing, PPC campaigns, etc. Identify high-performing strategies and areas that require enhancement.
- Craft detailed reports consolidating key findings derived from campaign analysis. Highlight successful tactics, challenges faced, and actionable insights for optimisation in the forthcoming year.
Key KPIs Include:
- Revenue:
- Total Revenue: Sum of all sales revenue generated within the year.
- Conversion Rate: Percentage of visitors who took a desired action (like making a purchase).
- Customer Acquisition Cost (CAC): Average cost to acquire a new customer, including marketing and sales expenses.
- Return on Investment (ROI): Ratio of net profit to the cost of marketing efforts.
- Customer Lifetime Value and Churn
- Website and Digital Engagement Metrics:
- Website Traffic: Total number of visitors to the website.
- Page Views: Number of pages viewed by visitors.
- Average Session Duration: Average time visitors spend on the website.
- Bounce Rate: Percentage of visitors who navigate away from the site after viewing only one page.
- Marketing Campaign Metrics:
- Click-Through Rate (CTR): Percentage of people who clicked on a link or CTA in an advertisement or email.
- Cost Per Click (CPC) or Cost Per Acquisition (CPA): Average cost for each click or acquisition through campaigns.
- Engagement Metrics: Likes, shares, comments, and other interactions on social media platforms.
- Customer and Audience Metrics:
- Customer Retention Rate: Percentage of customers retained during a specific period.
- Net Promoter Score (NPS): Measurement of customer satisfaction and loyalty.
- Customer Lifetime Value (CLV): Prediction of the total value a business can expect from a customer throughout their relationship.
- Content and SEO Metrics:
- Organic Traffic: Visitors coming from unpaid search results.
- Keyword Rankings: Performance of targeted keywords in search engine results.
- Content Performance: Metrics related to blog views, downloads of resources, or time spent on specific content.
- Email Marketing Metrics:
- Open Rate: Percentage of recipients who opened an email.
- Click Rate: Percentage of recipients who clicked on a link within an email.
- Conversion Rate from Emails: Percentage of recipients who completed a desired action after clicking through an email.
- Advertising Metrics:
- Ad Impressions and Traffic: Number of times an ad is displayed.
- Cost Per Mille (CPM): Cost for every thousand impressions of an ad.
- Ad Click-Through Rate: Percentage of ad viewers who clicked on the ad.
- Social Media Metrics:
- Follower Growth: Increase in the number of followers or subscribers on social media platforms.
- Engagement Rate: Measures interactions relative to the number of followers.
- Social Media Reach: Total number of people who have seen your social media posts.
2. Strategic Planning for 2024
Set Goals:
- Collaborate with stakeholders to establish precise, measurable goals in alignment with the overarching company objectives. Factor in insights garnered from performance evaluations to set realistic yet ambitious targets.
- Envision milestones encompassing revenue targets, customer acquisition goals, or brand visibility metrics to serve as guiding beacons for 2024 strategies.
Develop Strategies:
- Formulate comprehensive strategies integrating content, SEO, social media, and advertising, aligned with anticipated industry trends and evolving consumer behaviours.
- Incorporate innovative approaches such as AI-driven personalisation, immersive experiences, or interactive content to maintain competitive advantage.
3. Budget Planning and Expense Review
- Review budget allocations across various channels, reallocating resources based on the performance analysis. Emphasise investment in high-performing channels and consider exploring new avenues for experimentation.
- Assess the potential for adopting marketing technology tools or software to streamline operations and bolster campaign efficiency.
4. Engaging Year-End Campaigns
Holiday Specials:
- Engineer compelling year-end campaigns leveraging festive themes, exclusive offers, and personalised messaging to resonate emotionally with the audience during the holiday season.
- Employ a diverse range of content formats like videos, interactive posts, and user-generated content to foster engagement and foster brand loyalty.
- Make sure gifts for your team, partners, and customers are compiled and sent.
For Affiliate Managers:
1. Partner Evaluation and Collaboration
Evaluate Partnerships:
- Assess the performance of affiliate partnerships across the year, identifying high-performing affiliates and scrutinising the quality of traffic and conversions they generate.
- Initiate dialogues with top-performing affiliates to explore collaborative opportunities for the upcoming year, fostering strategies for mutual growth.
Network Building:
- Look back at the industry events, webinars, or forums where you forged connections with potential affiliates or influencers, and outline the great events. Cheque in with key partners to wish them a good holiday.
2. Performance Incentives and Rewards
Incentivise Performance:
- Motivate and retain top-performing affiliates by offering performance-based incentives or rewards. Acknowledge their contributions with bonuses, exclusive access, or early campaign insights.
3. Analyse Affiliate Programme Effectiveness
Programme Evaluation:
- Analyse the overall effectiveness of the affiliate programme in driving sales, lead generation, or brand visibility. Identify areas for improvement or innovation in programme structures or commission models across accounts.
- Solicit feedback from affiliates to comprehend pain points and potential enhancements, fostering a mutually beneficial programme.
Moving Forward: Preparing for 2024
To help arm you with the tools needed for success in 2024, Phonexa extends a special holiday offer to new accounts: enjoy a 10% DISCOUNT ON YOUR SUBSCRIPTION FEE*. Make your business merrier this season by contacting sales@phonexa.com to kickstart your subscription today. *This discount applies solely to the monthly licencing fee for the 2024 calendar year, and the promotion concludes on January 31, 2024.
And to express our gratitude for your continued partnership, Phonexa is pleased to present a 10% UPGRADE DISCOUNT* for our valued customers. Make the most of this festive offering by reaching out to your dedicated Customer Success Manager and commence the upgrade process today. *This discount is applicable exclusively to the monthly licencing fee for the 2024 calendar year, and the promotion concludes on January 31, 2024.