How to Measure Your Marketing Efforts


It's true we spend marketing dollars to display at trade shows, to attend events, to hold conferences, and to produce marketing materials for campaigns. 

How do we know what we are getting in return? How can we quantify the results of our marketing efforts to make sure they are worth the money spent? 

This may seem like an easy question, however, it's one that I am asked often. I have seen companies that don't measure their marketing efforts. Let me just say that's a big mistake. While marketing can be in the most part trial and error you can diminish errors by actually using calculations to see which campaigns are bringing in the most results for the money. 

It's vital to develop a consistent plan and marketing strategy that will help you project, measure and evaluate your marketing campaigns, without it you are simply going about marketing blindly. This is one of the most costly mistakes in business. 

In each marketing campaign you must develop a plan and strategy that identify the following:
  • Quantitive and Qualitative goals 
  • Campaign budget 
  • Fulfillment and response strategy 
  • Follow-up Strategy 
  • Tracking and testing criteria for your campaign 

Depending on your objective most goals can be measured effectively using one of three methods. These methods include: 
  • Cost per sale 
  • Cost per qualified lead 
  • Cost per visitor 

Once you decide which result you want to measure and you have the costs incurred for the event; calculating is actually fairly easy. 
  • Cost per Sale = Amount Spent for Event/Campaign (A) / Number of sales (S) = Cost per sale (CPS)
     Formula:  A / S = CPS
  • Cost per Qualified Lead = Amount Spent for Event/Campaign ( A) / Number of Qualified Leads (L) = Cost per qualified Lead (CPQL)
    Formula: A / L = (CPQL)
  • Cost per Visitor or Response = Amount Spent for Event/Campaign (A) / Number of visitors or response (R)  = Cost per Visitor or Response (CPR)
    Formula: A / R = CPR

Using these formulas along with developed plan for each campaign will give you the information you need to decide if a campaign or event was effective for your business. If it was...Congratulations! If not, it's time to visit the efforts of the campaign and find out exactly why it didn't work and how you can improve it the next time. Was it the event location, wrong targeted marketing? Perhaps the materials that you sent out didn't carry a strong call to action? There are several reasons why a marketing campaign may fail and not bring you the  desired the results, but future successes will come from determining what those reasons are.



item Career: How to Measure Your Marketing Efforts
How to Measure Your Marketing Efforts Career
Loaded All Posts Not found any posts VIEW ALL Read More Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content