Improving Marketing Effectiveness
I think it’s safe to say that every Marketer is always looking to improve the effectiveness of their Marketing. However, sometimes we don’t know the best ways to do this or run out of ideas. The first step in improving your marketing effectiveness is understand what’s currently working or not working (novel idea huh?). In all seriousness though, you’d be surprised at how many Marketers are not measuring their efforts. Our recent Marketing Confidence Survey showed that less than 10% of Marketing Managers utilize metrics to measure marketing effectiveness (collective gasp). To help Marketers out we created the Marketing Efficiency Checklist. Let’s take a sneak peak at some of the ways Marketers can improve their marketing efforts.
Data Measurement Systems
Do you have systems in place to collect and manage data on all of your marketing efforts?
If you can’t collect data on a marketing initiative, it’s not worth your time. Being able to analyze your data will give you a clear picture on what’s working and what’s not.
Do you test pricing strategies to assure you aren’t “leaving money on the table?”
Along with varying your marketing spend; make sure you’re continually testing your pricing strategy. Perhaps your price is too high and you’re losing customers or maybe your price is too low and you’re losing revenue.
Do you know if your marketing messages will work before you launch a campaign?
It’s important to test your messaging with a targeted sample of consumers before the official launch. This way you can isolate the elements of your messaging with the greatest impact and identify the optimal mix of messaging elements.
Preparing for Success
Whether you’re a “seasoned vet” or a new marketing professional, you should always be measuring you marketing. If you want to improve, you must first understand the efficiency of your current and previous marketing efforts.