Northern Vermont University
Ideally, measurement of how a marketing strategy has performed is a logical extension for planning and budgeting exercise in an organization. The established goals for Value worth clothing shall be both measurable and that which can be applied to different marketing roles in Value worth clothing. Value worth clothing shall employ a number of ways to effectively measure the marketing strategy performance and thus ensure those performance goals are achieved (Manu, & Sriram, 1996). As marketers face more pressure to indicate a return on investment (ROI) from their activities, marketing performance metrics shall be handy to measure the extent to which expenditures on the marketing undertakings contribute to firm profits.
Through collection and analysis of marketing metrics, our brands shall build on our marketing performance in various ways. After Value worth clothing has set plans and the marketing plan is on course, the of the applied marketing plan and strategies shall be done in the following ways.
Return on Investment (RoI)
When companies set some funds for marketing activities, and utilize the money by putting it into action, the ultimate expectation is to see some return on the investment they made. For any amount that Value worth clothing spend, we shall expect to see some value in terms of sales that are above the spent amount as well as new customers who will pay off overtime (Pande, Sengar, & Chaudhary, 2020). Having clear goals in the mind, will help Value worth clothing determine whether what they received was an adequate return on investment.
Reviewing Sales Numbers
Evaluation of sales numbers represent a fundamental method to establish the effectiveness of a marketing strategy. This shall be done through comparison of the pre and post-marketing campaign sales cumulatives.For instance if 000shall make $59000 in cloth sales before a marketing plan campaign, and the sales rise to $78000 later on, the safe assumption shall b that the marketing strategy was effective.
Examination of the lead generation
Although the marketing strategy we shall employ may not generate direct sales, if Value worth clothing generates leads from its marketing efforts, then the marketing strategy shall be taken as successful because in most cases sales leads cause fuelling of the actual sales (Brohi, Prithiani, Abbas, Bhutto, & Chawla, 2016). The sales leads shall be in terms of increased appointments, a rise in the subscription numbers on our channels and clicks on our blog posts and also increased responses from potential customers in general.
Reach of Marketing Efforts
The expansion on Value worth clothing in other regions shall be considered a positive sign for growth. Recommendations from the customers as well as mouth-to-mouth reaches on our marketing campaigns shall be a positive indicators of success (Flykt,2016). More customer referrals shall as well be considered a better growth path for Value worth clothing.
Response from the competitors on our marketing strategies.
The response from our competitors as regards our marketing strategy is a major sign of effectiveness on our part. For instance, if competitors replicate the marketing strategy Value worth clothing has used, then it shall be a sign that the company has performed well and gained good traction
Also, if all the competitors moved to different paths far from Value worth clothing applied marketing strategy, then it will be a sign of inefficiencies in it and need for worth clothing to re-strategize.
List of references