Evaluating the success of your marketing

You’ll have a few marketing ideas that you’ve put into practice and aligned with your target market and business goals. But how do you know if your marketing campaign is actually making an impact?

Evaluate your marketing efforts

Your business may have a few marketing campaigns operating through various channels. It’s important to test if each campaign (and channel) is working.

The strength of your marketing plan is dependent on how relevant it is to your target customers. It should be effective at:

  • Drawing in the customers you’re looking for – by appealing to their core needs or wants. For example, Nike’s ‘Just do it’ campaign began in the late 80s as a fitness craze was emerging in America. The campaign summed up everything people felt when they wanted to exercise, in three simple words.
  • Creating leads – there are plenty of proven lead generating methods you could be adopting if your marketing isn’t working. For example, offering a free sample, free trial or a free download has worked for many companies.
  • Producing sales – it’s vital to have a sales strategy that fits in with your marketing campaign.

Have you accurately measured your business’s marketing results? Here we’ll cover a handful of ways you can test whether your marketing is working or not.

Hitting your return on investment target

Finding out which areas of your marketing campaign worked and which didn’t will allow you to calculate your return on investment (ROI) for each segment of your plan.

To accurately measure your ROI, you should have:

  • Recorded how much money you’ve spent on each part of your campaign. For example, an online marketing campaign to attract new customers to your travel agency website may have cost $1,000 for so many clicks through to your site, whereas your local newspaper’s website might have charged $600 for placing your ad on their travel page for a day.
  • Determined whether you’ve made a profit. For example, linking to your site from the advertisement on your local paper’s website may have directly led to travel sales of tens of thousands of dollars and profits of $8,000. This profit figure would make it a successful part of your marketing campaign.

Establish which parts of your campaign produced a healthy ROI and which ones fell short.

Automating your marketing content

If your marketing efforts aren’t quite hitting the mark, consider using marketing automation. For example, you could automate the release of your marketing content through an online forum, an enewsletter and on your website at set times.

It may help your business to maximize the effect of your content marketing on your target prospects.

Receiving positive customer feedback

No one tells you just how well your marketing is coming across better than your target customers. You can find out what you need to know about each of your marketing initiatives by:

  • Asking for customer feedback about your marketing campaign – ensure you and your staff interact with your customers as much as possible, asking subtle questions to assess how they responded to your advertising.
  • Providing an avenue for online responses – for example, you could have a complaints form on your website, or a comments section for people to leave their opinions on your products, services and marketing campaign.
  • Conducting a more formal survey – for more in-depth detail about what your customers think. For example, you could ask questions like ‘What did you think about our March Madness campaign? Did it influence your decision to make a purchase during March?’ A focus group might be an ideal environment to carry out a formal survey.

Increasing sales and profits

If your sales and profits are increasing, it’s likely that your marketing plan is having a positive effect.

For example, if your total sales during the last financial year came to $90,000 and this financial year you’re on target for sales of over $100,000, your current marketing campaign is probably having some kind of beneficial influence.

Getting feedback from your salespeople

If your business has salespeople, get them involved in the discussion about how effective your marketing campaign was. They may have a clearer idea based on their interactions with customers.

Ask them if your intended message is getting through. If feedback from your salespeople is negative or your target customers are unaware of your latest campaign, it might be time to adjust your plan.

Next steps

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