Marketing effectiveness means determining the impact of marketing programs and campaigns on sales and revenue. There are several ways to influence marketing effectiveness, including considering corporate factors like size and budget, external factors outside of marketer control, improving marketing strategy, creative, execution, and management. Marketing performance is best managed by aligning goals, holding people accountable, using analytics, automating processes, forming alliances, and ongoing assessment.
1. Word Pick up from Novartis JD:
Marketing effectiveness
Means:
It is where you determine the effectiveness of your marketing programs and campaigns by measuring
their direct impact on sales and revenue.
fundamental ways marketers can influence marketing effectiveness:
Corporate:
Each company operates within different bounds. These are determined by their size, their budget and
their ability to make organizes act in similar ways leading to the need to segment them.
External Factors:
External factors such as weather, interest rates, government regulations, etc. that lie outside of
marketers' immediate control and may impact marketing effectiveness.
Marketing Strategy:
Improving marketing effectiveness can be achieved by employing a superior marketing strategy.
Marketing Creative:
Even without a change in strategy, better creatives can improve results.
Marketing Execution:
By improving how marketers go to market, they can achieve significantly greater results without
changing their strategy or their creative execution.
Marketing Management:
Improving the business of marketing can lead to significant gains for the company. Management of
agencies, budgeting, motivation and coordination of marketing activities can lead to improved
competitiveness and improved results.
Marketing performance measurement and management
Marketing performance management is based on six success factors: 1) alignment, 2) accountability, 3)
analytics, 4) automation, 5) alliances, and 6) assessment.