From the course: Marketing Communications
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Create a measurement plan
From the course: Marketing Communications
Create a measurement plan
- In an ideal world, every dollar spent needs to be tracked. If you do this, then you're thinking like the chief financial officer of your company. Not every company has deep pockets, which makes it even more important to set up a good measurement plan to track your marketing efforts. How do you know your TV and radio advertising is working? Or if you're paying for promotions and sponsorships online, are they converting to qualified leads through your website? These are all important questions that must be answered. Every single answer starts with the same response. First, knowing what you're trying to achieve from your marketing campaign, and then making sure you're able to track the metrics in a measurement plan, one that shows you're getting a return on your investment or ROI. Return on investment is a financial calculation. Now it's time to create a measurement plan. Let's break down the components. Because we know the marketing function aligns with the business goals of the…
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