How does an organisation measure its Marketing Effectiveness?

Marketing efforts can be measured by various metrics, which is essential to determine performance and eventually improve further. Tracking of results for all the marketing promotions can help in measuring effectiveness. Companies can track internal parameters like sales, leads, and conversion ratios after a campaign. Market research can be bought that are available industry wide and specific researches can be carried out to determine and measure performances depending on the mode of communication. 

For example a digital launch of a product can be measured by unique visitors, page views, search engine traffic, leads on the system, bounce rates, number of conversations and comments generated, and number of uploads. A success of a direct mailer campaign can be measure by no of leads generated. Success of a TV advert can be measured by the TRP, reach, frequency, inbound calls, increase in number of walk-ins, increase in brand KPIs, ad evaluation researches. 

Marketing effectiveness can be improved by improving the overall strategy, improving ways of execution or promotional mix, improving content, Improving infrastructure.

This is how to measure marketing effectiveness:  

1- collection of appropriate data.

2- The gathering of right types of data, and its accuracy, is crucial in measuring the marketing performance.

3- Agreement between the marketing department and the senior management is important in selecting appropriate data to be collected

4- Use the KPI as measurement of the marketing effectiveness

By collection of appropriate data. The gathering of right types of data, and its accuracy, is crucial in measuring the marketing performance. Agreement between the marketing department and the senior management is important in selecting appropriate data to be collected, analyze to see how far away from targets and adjust the marketing plan again and again for effectiveness.

1st we have to set the marketing goals 

2nd schedule your data gathering monthly basis ( or as need)

3rd use the KPI as measurement of the marketing effectiveness

when a marketer develop an integrated marketing communication program, he or she has to

define the purpose of  the program and it should be measurable.we would start with actual purchase 

behavior and move back up the purchase decision /behavior model until we could find measurable

points.as previously mentioned measurement concepts should be built into the planning process

so if we would initially define the brand contact that was to be made.from that ,we would define what was supposed to happen as a result of brand contact , if the contact through direct marketing,

an actual purchase might be the measurable behavior.if IMC program called for TV advertising

then the objective might be a change in attitudes or brand network.and could be followed with 

a sales promotion from which we could measure brand perception by consumers through actual

purchase.  

By conducting surveys and evaluating the ratio of potential customers arises from the marketing campaign. Online marketing effectiveness can easily be measure by click through rates and visitors traffic on your website. 

Marketing effectiveness is not something that can be done as a science since building a brand is a ongoing process. Having said that there are various ways to check if your marketing communication has been effective

 

1. Has there been a increase in the number of walkings

2. Has there been a steady number of enquires of late

3. Has the sales increased from YOY numbers

4. Is your marcom been discussed in the trade or by your conusmers

 

Thanks - Tino Gonsalves

set indicators/ targets/ in light of those set benchmarks developed a strategy either to explore the market or satisfy the end user. it mean according to your log frame work analysis regarding your inputs then activities and then yours out puts goes to your outcomes end user satisfaction best marketing and best customer services or the root of business strategy . Ikram Ullah

STEP1: DEFINE WHAT MARKETING ROI MEANS FOR YOUR ORGANIZATION Before you can effectively measure success, you must define what your key performance metrics will be, and agree upon the definition of “success.” The definition of success is not only unique to an organization, but often to each stakeholder, as well. For example, content marketing managers will be interested in the number of blog posts and downloads published, while your CMO will be interested in cost-per-lead and number of new leads at each phase of the sales funnel. For examples of additional digital marketing KPIs, check out John McTigue’s blog post, Top10 Inbound Marketing KPIs – The View From the Top. STEP2: SET REALISTIC AND MEASURABLE GOALS Once your KPIs are defined and agreed upon, the next step is to establish appropriate metrics. This may be a bit tricky, especially when you are first starting out. Chances are good you will need to make adjustments to your goals as you dig deeper into the data over time. Whether your goals were too aggressive or too conservative, be willing to adjust accordingly. At this point, you may also consider establishing guidelines for how the data will be presented. As a general rule, keep things simple. At a quick glance your C-level executives should be able to tell if the goal was met or not. If using a spreadsheet, consider a simple color coding system—perhaps green if the goal was met and red if it was missed. STEP3: GATHER THE RIGHT DATA NEEDED As previously mentioned, one of the primary concerns of marketers who participated in the study was the lack of sharing customer data within their organizations. If you are like most organizations and data is collected and managed in multiple databases, establish a system for collecting the data needed from each department. First and foremost, work with your sales and IT departments to create a closed-loop process through your marketing automation platform. This integration will provide you with timely feedback from sales on the impact of your various activities in driving revenue. STEP4: MONITOR YOUR GOALS FREQUENTLY Don’t wait until the end of the month to evaluate your performance. Rather, monitor your KPIs on a weekly, if not daily, basis. For example, at Kuno, if we notice our number of new leads is below target at any point during the month, we have a plan in place to publish and promote new content among other tactics. STEP5: USE YOUR DATA TO MAKE BETTER DECISIONS The days of “this just feels right” are long gone and collecting simple data just doesn’t cut it. Successful marketers understand the importance of using data to make decisions and justify budget requests to their bosses. Do you have more steps for measuring marketing ROI? Please share your tips for showing marketing success in the comments section below!

Identifying the target audience

Establish goals and objectives

Set your communications channels

Develop the correct message to be delivered to your audience

Measure and Optimize

By measuring created  demands for the promoted products, Measuring the demands related to business industry, BTB, BTC, However the common factor is the, Sales / Service revenue, Business leads.