Quantifiable Elements to Evaluate Marketing Plans

In: Business and Management

Submitted By rctippen
Words 403
Pages 2
Identifying quantifiable elements to evaluate, monitor and control your marketing plan begins with establishing goals. Establishing quantifiable goals that must be met within a certain time frame gives you context within which to evaluate whether your marketing campaigns are bringing in enough leads or sales. Based on whether you are on track to meet your goals or not, you can adjust your plan accordingly. In most marketing plans, the quantifiable elements are the number of new leads or sales brought in.
Step 1
Set quantifiable goals for your marketing plan. Common goals include increasing brand awareness, store or website traffic and the number of leads or sales.
Step 2
Create new marketing campaigns or tweak existing ones to help you reach the goals you set in the marketing plan.
Step 3
Review last year's sales records so you have something to which to compare this year's sales. An increase in leads or sales over last year's numbers will indicate that your current marketing campaigns are working.
Step 4
Set metrics for tracking the direct impact of each campaign on its ability to help you reach your marketing goals. Common metrics include number of click-throughs on an online ad, number of new sales, number of new leads or percent increase in traffic to the store. It's okay if the metrics directly mirror your goals because campaigns are only run to help you reach your overall goals.
Step 5
Analyze the results of each campaign based on your metrics. Determine whether the campaign brought in more profit than it cost to run. If it did, then the campaign was a success and should be run again.
Step 6
Based on the number of new leads and sales each successful campaign brings in, determine how many more times you need to repeat them to meet your goals. Be flexible and understand that sometimes you may need to run a campaign longer than you have in the past…...

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