Originally, measuring marketing effectiveness was only limited and time consuming of consolidating data.

Evolution of Digital Technology (Measuring Marketing Effectiveness)

• Easy to capture and consolidate data

• Can measure online marketing platforms' analytics tools

• Online and offline marketing are more entwine

• Using of QR codes or vanity URLs

Example

The objective of this toolkit is to help you understand how you can plan, measure and evaluate the performance of your marketing efforts with the goal of improving your ROMI. We will introduce you to some digital technologies which are commonly used to measure the impact of online and offline marketing efforts.

Tip

Regardless of whether your marketing activities involve offline, online or both, you should be able to find relevant insights on how you can start your journey towards measuring marketing effectiveness

Measuring marketing effectiveness entitles you to understands your marketing performance and enable you to evaluate and identify your Return On Marketing Investments (ROMI).

Measuring marketing effectiveness involves

• Reviewing market strategy

• Identifying objectives

• Identifying conversion tips

• Measuring strategy

• Evaluating measurements

Example

Finding X, Y & Z; Do you currently know all the X, Y & Z values for your business?

Measuring these X, Y and Z values allows you to review the exact numbers in return (i.e. reach, prospects & sales) to better understand your marketing to sales performance.

Tip

Marketing budgets are invested in print ads, social media and web banners to reach the target market. These investments are expected to bring prospects to the website / retail shop and eventually, some of these prospects will convert to customers.

Plan, Measure, Analyse and Optimise are the four keys on measuring marketing effectiveness. These stages can apply to your platforms, whether it's Business to Business (B2B) or Business to Consumer (B2C).

The key stages

• Plan; planning, creating, understanding and identifying

• Measure; technical understanding - (Tracking Tools and Tracking Techniques)

• Analyse; marketing performance

• Optimise ; insights discovery and marketing spend

Example

Web Banners (1000 reach) -> Website (100 prospects) -> Purchased (10 Sales)

Social Media (2000 reach) -> Website (120 prospects) -> Purchased (5 Sales)

Print Ads (5000 reach) -> Website (250 prospects) -> Purchased (12 Sales)

Tip

Which worked better?” , “Why it worked better?” , “How it can be better?”

All of these questions can be answered by these values. Consider these values as a ‘reality check’ of your marketing strategy and how your target audience perceives your brand. These answers are insights to your business which will lead you to better conversions rates and with better conversion rates, you can obtain better ROMI.