Marketing Calculator by Powell Guy R.;

Author:Powell, Guy R.;
Language: eng
Format: epub
Publisher: John Wiley & Sons, Incorporated
Published: 2012-07-24T00:00:00+00:00

6. Track actual results and calculate actual ROMI factors—In order to track results, it is crucial to have some type of marketing source tracking capability. For leads, this might be a SFA system. For coupons, this might be a coupon redemption code. For calls to an 800-number, this might mean having separate 800-numbers or extensions for each campaign and simply counting all calls to a specific 800-number or extension. For other campaigns, A/B testing or split cell testing may be used to determine the incremental revenue generated for the specific marketing activity. If instead of 100 webinar participants, the campaign delivered 121 participants with an actual close rate of 30 percent then the actual ROMI would be 121 ∗0.30∗ US$1,000 ÷ US$21,000 = 1.7.

7. Save, secure, and make available your results in a knowledgebase to help guide future decisions—It is critical to make your results information available for future campaign planning. The information can also be used to generate a full bottom-up budget that is more closely related to supporting the achievement of the corporate sales plan.

8. Widen the scope of measurement to include all direct-response marketing activities—With these functions in place, connecting the dots to specific direct-response marketing campaigns is now possible. When this information becomes available, you will be able to see whether some campaigns were successful and worth repeating—and improving—and if others were marginally unsuccessful and worth fixing, or were completely unsuccessful and not worth repeating.

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