Do you know how effective is your your marketing? Which is the half of the marketing costs which you spend uselessly? How much of what you spend on marketing is actually effective?

How many sales a given campaign generates? Are the sales team happy with the quality of leads that marketing supplies?

If you don’t know answers to these questions, you don’t know how much revenue you are leaving on the table.

Therefore, you now probably need the following:

• An understanding of what actually worked and what was a waste of money
• A benchmark for success, showing you where you could have got value for money
• An idea of where to focus your future marketing budget to get results and what you should be looking at when creating your next marketing plan

If you want your marketing strategy to prove effective, at the end of the year we need to check whether you stuck with the plan and how well you did with the individual campaigns.

Here is a clear description of what you should measure:

• Campaign Start – When did the campaign start?
• Expected # Leads – How many potential customers do you expect to contact you after the campaign?
• Actual # Leads – How many leads did you actually get so far?
• Expected # Sales – How many customers do you expect to buy from you after the campaign?
• Actual # Sales – How many sales did you actually get so far?
• Expected Sales Value – How much sales will the campaign generate?
• Actual Sales Value – How much sales did the campaign generate so far?
• Expected Budget – What is your budget for the campaign? How much will you spend?
• Actual Budget – How much did you spend so far on the campaign?
• Return on Investment – How much sales did $1 of actual budget generate?

If you manage to measure these indicators regularly, you’ll be able to soon evaluate your marketing strategy, even by comparing the results on a monthly basis.

Are you aware of the potential your company has in your market?

Do you want to improve your company’s efficiency with business coaching?

Do you need to ensure your business growth?

Do you sometimes have the impression that your business remains stabgnant?

It is very important how your your company is structured, especially if you have grown to more than 20 employees.

When you now look at your chart, can you identify which departments could possibly struggle with communication among each other?

Also, it is important to note that sales and marketing should work closely with customer service department, since they need to pass feedback from each other.

Have you ever heard of Guerrilla Marketing? It’s an effective way of marketing execution for mostly small businesses but its techniques can be applied in huge corporations as well.

One of  its 15 main rules according to the founder Jay Conrad Levinson sounds as follows:

“You can actually double your profits by  measuring the results of your marketing. Some weapons hit bullseyes. Others miss the target. Unless you measure, you won’t know which are which.“

That’s why we are also keen on measurement. Above all, the advertising is an
area where the effectiveness (or efficiency?) of its spending is being widely discussed.

Click here to learn more about Advertising Effectiveness

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