Evaluating the effectiveness of marketing activities can be tough. How do you tell which of your actions have resonated with your audience? And whether you’re achieving your marketing objectives in support of your business plan.
As always, it’s important to start by setting down what you plan to achieve with your actions and your campaigns. It goes without saying that your plan and goals need to be specific and measurable. Once you’ve set out these goals, you can start to measure the effectiveness of both individual elements within marketing and business development campaigns, and the effectiveness of campaigns as a whole on your market position. This will help you to adjust your activities as you go so that you continue to work towards your overall business objectives.
The good news is that, these days, there is much more data available to marketers to help with these evaluations. This information can help you decide which actions are adding to your brand building and business development efforts and which are a distraction.
Measuring the effectiveness of individual marketing activities
It’s important to keep your finger on the pulse of your marketing activities while they’re in the market, measuring the effectiveness of actions as your audience engages with them. This will help you to continually improve each interaction and achieve your objectives. It will also help you understand which pieces aren’t working so you can quickly redirect investment.
For example, you may be sending electronic direct mails (EDMs) as one element of a marketing campaign. Using your marketing email/automation system to look at open rates, bounce rates, and the actions of your email recipients can help you continually improve the content and timing of your emails throughout the campaign. Other examples of this kind of measurement include the information you can get from Google Analytics about your website and the social media platforms you use to promote your business and brand.
Measuring the effectiveness of marketing activities and campaigns against marketing & business strategy
Looking at all these individual measurements together will help you to understand how effective your overall marketing strategy is. These measurements are more long-term and you’ll need both before and after readings so that you can see the change you’ve been able to affect. These measurements could take the form of new clients acquired (sales), or brand research showing how your business is viewed on a range of attributes that impact clients’ purchase decisions.
Keeping on top of both these types of measurement will help you ensure your marketing spend is deployed in the most effective way. You’ll be able to act and react quickly and flexibley to the desires of your audience and the needs of your business. You’ll be able to cut those activities that aren’t working based on hard data, not on guesses and gut feelings.
If you’d like to start a conversation about measuring your marketing activity and ensuring it’s helping you to achieve marketing and business objectives, feel free to get in touch with Little House Marketing today.