How do you establish if a marketing program is successful?
Deciding if a promotional giftware marketing program is working can be evaluated in several ways.
Many companies measure promotional giftware programs success simply on the basis of sales. This is overly simplified… only by fully appreciating which business giftware schemes generate the best ROI “Return-On-Investment” can they increase the effectiveness and efficiency of the programme.
Knowing what techniques produce the best ROI enables companies to recommend more effective ways to invest marketing budgets.
Focusing on client purchasing behaviours will provide the necessary depth of knowledge. By using more end result approach and the necessary tools, companies can compute both the sell-through and ROI of their promotional marketing programmes. As a result, trading partners can fully maximize potential profitable growth.
You could work it out... if you know what the sales increase is you'll be able to work out the profit, if the profit is greater than the cost of the promotion then you have an effective promotion. If you divide the sales by the cost of the promotion and then multiply the result by 100 you get a percentage value for ROI.
Posted on July 16, 2009 at 4:56 pm
Great post. I have a question though. How can you estimate the ROI on a promotional gift?
Posted on July 16, 2009 at 4:39 pm