In order for you to determine whether or not a marketing plan is worth the investment of money and man hours, you need to have good marketing evaluation techniques. There are different areas of a marketing plan that can indicate whether or not the program was successful. Once you have your evaluation techniques in place, you can start to fine tune your marketing plans to make them more productive.
One of the more important techniques you will use to measure the effectiveness of your marketing plans is to measure how a marketing program affects sales, according to Stuart Ayling, writing on the Marketing Plan website. You should know what your sales cycle is, so be sure to take that into account when evaluating the effect of your marketing on sales. A significant increase in sales after the release of a marketing plan indicates that the plan is effective, and you will want to use portions of that plan in future marketing endeavors.
Asking your target audience about the effectiveness of your marketing plan is a technique that can help you to create better marketing programs in the future, according to the Business Knowledge Source website. Conduct market surveys by phone, email, standard mail and in person to determine what your target audience thought was effective about your marketing, and what aspects of your plan did not work. This information is valuable in refining your advertising to better reach your target group.
An effective marketing campaign reaches existing customers as well as potential clients in your target audience, according to Amy Bax, writing in the Gaebler website. Evaluate repeat sales to see if existing clients are buying more accessories or additional product after your marketing has begun. Creating a positive marketing message can also prompt existing customers to feel a sense of confidence in your company that can result in repeat sales for many years. Monitor repeat sales and the sales of accessories to existing clients to see if your marketing is strengthening the confidence your current customers have in your company.
As part of your marketing plan, you develop a profile of your target market. You know where your existing customers are located and their buying habits. When you are evaluating the effectiveness of a marketing plan, analyze the results that the plan is having in new target markets. See if the buying cycle is quicker with the new target audience, and consider aiming future marketing campaigns at similar new groups of clients.
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