Brands are increasingly expected to show a tangible return for their marketing campaigns. With budget cuts, stagnation and increasing expectations from shareholders brands are under more pressure to show that their advertising investments pay off.
It is possible to determine both the long-term and short-term effects of your marketing campaign’s revenue with the right research approach. Setting clear goals and key performance indicators (KPIs) in place allows you identify the metrics that are most relevant to your campaign goals. This will ensure that you are not distracted by KPIs that aren’t aligned with your goal of increasing revenue, such as taking a look at your cost per acquisition or the number of new clients acquired.
A survey is among the most effective ways to evaluate the effectiveness of your marketing campaign. A comprehensive marketing campaign assessment survey is divided into two parts: a pre-campaign survey and an after-campaign survey. The pre-campaign survey collects data before the campaign begins while the post-campaign evaluation survey collects information after the campaign is over. By comparison of the results from both surveys marketers can discern the “before and after” outcomes of their marketing campaigns.
When you employ a third party market research firm to analyze your marketing strategy, you can be sure that the information you receive is reliable and accurate. The sample you choose for your survey should be chosen randomly to represent your target population and the geographic area targeted for your campaign. For instance, if a manufacturing company’s radio or television commercials are aired throughout the seven counties of the Syracuse DMA, your research firm should conduct a survey of people who live in Syracuse, Oswego, Cortland, Tompkins, Seneca, Cayuga and Madison counties.