Marketing productivity calculates an organization ability to turn resources into results for its customer and the organization itself.
An effective marketing machine completes projects faster, delivers outcomes that captivate customers, land even larger customers and keeps growing.
Perhaps, more vital is that productive agencies create a feeling of excitement and pride among their employees. Thus, employees become players in organization success and are motivated to propel this success to a new height.
When it comes to marketing, productivity is not about getting things done; it is about getting things done right.
Here are some of the ways to measure marketing productivity:
1) List your business and marketing goals including, short and long term goals; refer to your business or strategic plan for advice. Use them as a measurement tool throughout the year and after each vital campaign, measure your progress against the target.
2) Keep track of sales before, during and after each campaign. Use a simple spreadsheet to follow the figures to avoid complicating the process. Note the evolution of sales after each marketing campaign, keeping in mind that there may be a gap between the launch of the marketing efforts and their effects on sales.
3) Talk to the customer to assess their awareness of the business. Do online surveys or phone interviews to reach customers ask them how they learned about your business. Keep an eye on the most frequent source of reference and boost your marketing in those areas.
4) Monitor your website’s analytics and follow the traffic pattern after each marketing campaign and keep track of the website that brings you doubled traffic. Increased traffic during or after the campaign indicates that it is effective and visible. When conducting an online campaign, identify which of your ads or marketing efforts bring you the most traffic and the least active ones.
5) Calculate the return on investment for each campaign. If your profits do not exceed the cost of running the campaign, then maybe it’s not worth it. Include hours, material and overheads in your overall production and track profit during and after the campaign. Determine if the outcome of a marketing campaign is sufficiently valid to justify the cost.
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