My most recent blog on www.AddInMarketing.com provided a quick overview on gearing up marketing company promotions for the holidays, and whether you are in Thousand Oaks, Westlake Village, Camarillo, or Ventura County, metrics are imperative to calculating growth and success. While contemplating which marketing promotions you are going to pursue this year, take some time to review last years marketing numbers so you can gauge where you were and where you want to be.
This sounds simple, but many companies can forget to do this when preparing marketing campaigns. Marketing companies, or your internal marketing team, should be able to sit down with you and figure out which marketing metrics are important to review.
Three key elements are critical in targeting overall marketing success: data, analytics and metrics. These elements help you define and increase your overall brand awareness and return on investment (ROI).
Here are some marketing metrics you, or your marketing company, can base your pre-holiday review on:
– Data: Pull data reports for your customer and/or product revenue vs costing list. Data should be as complete as possible and may require some collaboration between departments to complete. Also, pull your advertising costs and other costing center data. Pull and retain data for as many years as you can, this will allow you to analyze and compare efforts as completely and thoroughly as possible.
– Analytics: Compare the amount of customers or products you have made sales on, how many times they made a repeat purchase and what was the amount of purchases. Do you show more sales in one region or another, or perhaps one product (20% of the mix) is making all the sales during the season and you can pull back on production of the others? Look at your advertising cost to revenue earns, study and sort as completely and aesthetically pleasing as possible for ease of viewing for other departments or C-level executives.
– Managing Metrics: Marketing metrics allow marketing professionals to manage the budget with the ability to justify spends, cut spending in other areas and continue to gain approval for additional monies on an ongoing basis. Once your data is collected and metrics are arranging in a proper presentational manner, you are able to collaborate with other in house operational teams to create a well-oiled and profitable company.
Justifying your marketing budget is the same as gaining valuable trust with and within your company. Add+In Marketing company in Thousand Oaks and Ventura County takes the time to Analyze, Implement and Manage (add AIM) to your annual plan. For in-house marketing professionals, this is just a gauge to walk-through the strategic steps for this year’s holiday ramp up, for others that are seeking structured marketing support services, call Add+In Marketing for a free initial consultation at (805) 449-1416.