Brands are increasingly expected to demonstrate a quantifiable return for their marketing campaigns. With budget cuts, plateaus and the increasing expectations of shareholders, brands are under increasing pressure to demonstrate that their advertising investments pay off.
It is possible to determine both the short-term as well as long-term impact of your marketing campaign’s impact on revenue by using the right research strategy. Having clearly defined goals and key performance indicators (KPIs) established helps you define the metrics that are relevant to your campaign goals. This will ensure that you’re not distracted by KPIs that aren’t in line with your goal of increasing revenue, for example looking at your cost per acquisition or the number of new clients won.
One of the most effective ways to determine the impact of your marketing campaign through an evaluation survey. A comprehensive assessment of your marketing campaign survey is divided into two components: a pre-campaign survey and the post-campaign questionnaire. The pre-campaign survey collects information prior to the launch of the campaign while the post-campaign evaluation survey collects information after the campaign is over. Marketers can compare the results from the two surveys to see how their marketing campaigns have changed.
When you employ a third party market research firm to assess your marketing campaign you can be assured that the data you receive is reliable and accurate. The sample you choose to survey should reflect the demographic of your target audience and the geographic area that will be the focus of your campaign. For example, if your manufacturing organization’s radio or TV commercials are played throughout the seven counties of the Syracuse DMA, your research firm should take a look at people who live in Syracuse, Oswego, Cortland, Tompkins, Seneca, Cayuga and Madison counties.