The most important indicator in marketing is, of course, performance. After planning and implementing your marketing strategy; you should determine how well it performed. Monitoring your marketing performance will help you tune your marketing into the future. It is crucial to more effective and efficient marketing.
The key area that you should monitor in a mixed media marketing campaign is the placements. If the message has been distributed properly and has reached your target audience, then the placement has performed well. Poorly performing placements will not reach your audience. This comes with precision. The more precise your placements are, the more efficient your marketing will be. If your marketing is being wasted on those who are not at all interested in your offer then it will not perform.
Invest marketing into a product that serves the market’s needs. Any advertiser can bring prospects to learn about your product and make enquires, but you will have a difficult time selling if the product does not live up to its expectations. Performance must also be measured by actual sales in volume (units) and value ($) or ROI (profit).
Promotion can be measured in coverage, visits, impressions, clicks, enquires and actions. If you reach the anticipated numbers in any of these areas, then your promotion has been successful in that respect, regardless of sales. If the sales are low, then you need to tune your marketing. It could be the messages, placements, people, price, brand personality or environmental factors that are preventing people from buying. Continue doing market research so you can identify what needs to be improved.
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