3 Ways to Measure Marketing Effectiveness

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Marketing is not always easy to quantify, which is why you should determine what metrics you want to measure before you try to track performance. For some companies, email opens/clicks are most important, while others believe demo registrations are more qualified leads to track. Non-profits, on the other hand, often measure marketing efforts by dollars raised and participation percentages. The point is, there are always ways of measuring your success.

Managing Customer Interactions

Customer relationship management, or CRM, tools are great for tracking and measuring the effectiveness of customer and prospect interactions. They essentially automate marketing processes to streamline and improve sales, marketing, and technical support efforts. You can most certainly find a CRM system that fits the needs of your organization, but it can be expensive.

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How Do I Know Who My Target Customer Is?

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In an ideal world, everyone wants what you’re selling. That does not mean that everyone is your target customer. There’s the difference between individuals who want your product or service and those who can afford it. Let’s say you work for a company that has the resources to purchase certain goods or services, but there are only three people with actual purchasing power. Do you see how quickly this group of potential customers becomes a fraction of the overall market?

A good marketing strategy will always involve targeting a specific segment of the market. This approach allows you to cater your messaging, reach the right people quickly, and save resources. The more you know about your target customer, the better off you are. Once you have narrowed down your target customer based strictly on needs, budget, and purchasing power, you need to define their personality and behavior.

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How Effective Is Your Marketing Strategy?

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Before you ask how effective your marketing strategy is, you need to make sure you understand exactly what it is and how it was developed in the first place. So many of our clients have overlooked the importance of a solid marketing plan. They spend years wasting time and money investing in aspects of their business that simply don’t provide returns. After all, if you don’t plan how to spend your marketing budget, how can you possibly measure its success?

Comprehensive marketing plans are essential to any organization, large or small. It will help determine whether your best use of resources includes one or a combination of a website, social media, e-newsletters, email, direct mail, events, SEOads, appeals, brochures, e-books, case studies, strategic partnerships, or PR.

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