In this part of the Marketing Plan, you will discuss different measures of success. After putting all the effort into planning your marketing strategy, it is important to also have an idea of what you will measure and how you will decide if the campaign is working or not. After all, marketing dollars are limited, and you will want to spend them in the way that generates the most business.
Instructions
This week, you will submit the final part of your Marketing Plan.
Add this portion of your marketing plan to the portion submitted last week to complete your marketing plan (be sure to continue the formatting provided in the template). This section of your plan should be approximately 1-2 pages long with properly cited in-text citations.
Use these headings in bold font in your plan and cover the points beneath it.
Tip: Be sure to take a look at the Rubric below! This will give you a solid understanding of the exact criteria that will be used to grade this part of your paper.
Evaluating Performance
Think back through the components of your marketing plan. How will you determine if your goals and objectives are being met? There are several metrics to choose from that can help shed light on whether or not your strategy is working. Discuss how you might use TWO metrics from each of the four following categories to evaluate if your plan is successful.
Remember: If you use any resources, you must properly cite them using APA formatting.
- Measuring Digital and Social Media Effectiveness
- Reach metrics
- Acquisition metrics
- Engagement metrics
- Conversion metrics
- Retention Metrics
- Financial Performance Metrics
- Return on Marketing Investment
- Revenue Analysis
- Market Share Analysis
- Profitability Analysis
- Metrics for Evaluating Customer Relationship Management
- Share of Customer
- Customer Equity
- Customer Focus
- Lifetime Value
- Analytics for Auditing Social Responsibility
- Qualitative analytics
- Quantitative analytics