The success of a campaign needs to be measured to understand if the strategy is effective and if it fetches long term business benefits for the organization. This will help to either extend the campaign, tweak it, or shelve it altogether, to be replaced by another. Without any idea of the effectiveness of a campaign, businesses are at a risk of wasting resources on an exercise that may or may not fetch results. Here are a few Marketing Campaign Effectiveness Metrics that will help understand, and predict possible outcomes.
Campaign metrics – specific metrics
Metrics are of different categories, and marketing campaigns are measured by specific metrics. This essentially means that the campaign is intended for a specific purpose, or a goal. This may or may not be a continuous campaign, but is generally known to run for a fixed time till the particular goal/objective is met.
For instance, this could be related to the launch of a product or service and the purpose of the campaign may be to increase awareness of it. After the goal is reached, the campaign is most likely to be discontinued. Campaigns need to be tracked with greater focus, as it involves a fixed time and budgets. Assessing an ongoing campaign will help to make it more effective with necessary changes, or the same can be shelved altogether if the outcomes are not as desired.
The laying down of specific metrics is a lot different from other metrics. With a possibly narrow set of goals, the effectiveness will hinge no multiple factors, while scrutiny will be relatively high. It is therefore important to ensure that the metrics are set realistically, and in a manner that will help the business to meet objectives better and faster. Campaign effectiveness measurement typically involves the overlap of specific metrics with time bound metrics, as most campaigns are generally planned to run for a specified period.
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