Evaluation is a very important part of marketing. We’ll take the time to find out what your goals are for your business and where you need to go from today. The initial process will be to truly understand your company’s vision, product and service as it pertains to your market. One4Social will help you identify these goals and begin the early stages of planning with those key elements in mind.
Evaluating your marketing and strategy doesn’t stop in the early stages. Scheduling regular evaluation meetings helps fine tune the marketing strategy, increase efficiency, you can also save money by modifying or eliminating campaigns that are not reaching your target market or garnering the response you need. As we plan, we will build in mechanisms to monitor the success of each marketing effort to make evaluation cheaper and easier.
Monitor Your Progress
Marketing can be used to support your overall business objectives, so it's helpful to monitor your progress towards strategic business goals. At regular intervals, conduct an evaluation of each goal. If you find that the progress toward one is slower than the others, your marketing strategies for that goal may be ineffective or need to be ramped up.
Compare Your Strategy to Competitors
If you are employing similar strategies to competitors, you can compare them to find differences in frequency, quality, content and response. Note the number of places competitors' advertisements show up, how many social media followers they have, how their profits changed after a campaign or how they have altered their other marketing strategies.
Evaluate the Return on Investment
Even if your marketing strategies are helping to achieve your company goals, they can be unsustainable if they cost more than they make. Calculate the cost of each campaign and the man-hours that go into each project, then measure that cost against the campaign's profits to determine the return on investment. If there is no change in profit, the campaign may not be worth keeping.