Small Business B2B Marketing Blog

How to Evaluate Your Marketing Campaign

Before you rush out to waste your money and time in executing your next small business marketing campaign, you might want to take a deep breath. Take a little time to establish your campaign goals and analyze how your marketing campaign might perform prior to spending your money. You might find that this will be your best marketing investment. 

Would knowing the answers to questions like these so that you could make smarter business decisions help your company? 

• Do you know if your next marketing program even stands a chance to break even, let alone return you a profit? 

• Do you know, which marketing program is the one the gives you the best opportunity to be profitable? 

• Do you know how much could your next marketing program generate for your firm in terms of return-on-investment? 

• Do you want to know

1.  Define Your Marketing Campaign Goals

• Below are some typical campaign goals: 

□ Introduce my company to the market 

□ Introduce my products or services to the market 

□ Introduce a new product/service to an existing market(s) 

□ Introduce a new product/service to new market. 

□ Increase my market share 

□ Stop market share erosion from competitors 

□ Reverse negative sales trend do to __________________ 

□ Develop new market segments for my product/service 

□ Increase profit margins 

□ Improve my product service sales mix 

□ Implement new pricing strategies

2. Identify your target sales prospects: 

• Existing customers 

• New customers 

• Both, new and existing 

3.  Determine the distribution method or methods; you will employ to deliver your marketing message? 

• Below are some typical marketing message distribution methods: 

□ Direct Mail 

□ Trade Ads 

□ Email 

□ SEO/Public Relations 

□ Radio/TV/Billboards 

□ Social Media 

□ Seminars/Webinars 

Once you have outlined some basic marketing campaign goals you are ready to turn your attention to setting the sales and profit goals of your campaign. You will need to establish realistic performance criteria and to think through your sales goals and assumptions.

4.  Set Marketing Campaign Sales Goal Assumptions 

• What is your Sales Goal for this marketing program? 

• What is your profit goal? 

• What are the average profit dollars of the type of sale you are estimating for this program? 

• How many sales can you make to the same customer? (minimum is one) 

• How many sales meetings does it usually take you to make one sale? 

• What is your estimate of the % of Sales Leads needed to obtain one sales meeting? 

• What is your estimate of the % of Sales Suspects that will agree to a Sales Presentation? 

• How much as a percent of sales, would you be willing to spend to acquire an average customer? 

 5.  Analyze Your Campaign Sales Goal Assumptions 

This step will help you analyze the logic and establish benchmarks to evaluate any small business B2B marketing campaign. With this information, you will be able establish marketing benchmarks to track the actual results of your new business lead generation program against your benchmarks. 

To assist you in analyzing your sales assumptions you can use a free and simple to use marketing campaign analysis tool. It makes it easy for you to evaluate your next marketing campaign. This small business b2b marketing campaign analysis tool and its accompanying Smart Marketing Campaign Report^sm can save you thousands of dollars and a lot of wasted time in planning and executing your next small business marketing campaign. You will then be able to evaluate 14 different key marketing metrics to answer questions such as -

1. What is a reasonable sales goal for my marketing campaign? 

2. Will this marketing program generate sufficient profits to be worth of my marketing investment? 

3. What is the projected Return-on-Investment for this marketing program? 

4. How many total profit dollars are generated by this marketing campaign? 

5. What is my new customer acquisition cost in this program? 

6. What is the new customer acquisition cost as a % of total sales? 

7. What is my marketing cost per contact? 

8. How many new clients are necessary to reach my sales goal? 

9. Have you assumed a reasonable client closing percentage? 

10. How many sales presentations will you need to make to reach my sales and profit goals? 

11. How many leads will we need to obtain one sales presentation? 

12. How many prospects will we need to be converted to sales leads? 

13. What is the total number of suspects that we need to contact and what is the cost to reach them? 

14. How many suspects need to be contacted each day of the campaign? 

Takeaway:
By taking a little time to plan and analyze your next marketing campaign before you spend any money, you will reap substantial benefits with your ability to increase the quality and effectiveness of your marketing campaign through better decision making.

For a free marketing campaign analysis click on the image below.