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Topic : Consumer-Centric Holistic Measurement
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Media Mughals

 
Industry : Management & Strategy Consulting
Functional Area : Valuation
Activity: Question posted: 05 28 2008 00:23:43 +0000, 1 answers, 109 views, last activity 07 06 2010 20:18:08 +0000
 
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  Answered by     Jitena Kumar Rawat, Senior Consultant, GKC  | 05 28 2008 00:24:31 +0000
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Advertising effectiveness can be measured using quantitative and/or qualitative techniques. The way you go about it depends on what you are trying to measure. Are you interested in building broad awareness for your brand? Do you need sales leads for your reps? Are you in a direct sale mode where you need to make the phone ring? Determining what you want to do will shape the way you go about evaluating effectiveness of your marketing efforts. Once you know that, it may be a matter of analyzing the number and types of leads you’re getting from your ad program. Or, you may want to "take the market’s temperature" using brand awareness surveys to evaluate your brand recognition. Anecdotal evidence is another way to measure success. Are your salespeople finding that their reputation precedes them? Do customers know your company and what product they are selling before they arrive on their doorstep? If so, your advertising is probably hitting the target.

One of an agency's roles is to help you form realistic and appropriate measures of effectiveness. Remember how the Internet brought a whole new set of metrics into play? Suddenly, companies could get instant feedback on which banner ad was driving the most people to click through to their website. While it may have appeared to be the holy grail in evaluating advertising effectiveness, it turned out not to be so. Click-through can be one way of measuring effectiveness, but it is only one way. Companies now look at not just click-throughs, but at branding and the power of the Web to help make or break a company’s image—the measure of a company being in the eyes of the beholder.

By helping to bring a proper perspective to your marketing strategies, means and goals, we will work with you to develop a useful measures of effectiveness and marketing success

 
 
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