There are many ways of evaluating effectiveness of your marketing approach. Through this blog post I will be going over three of them talking about the benefits of each.

Customer Acquisition Cost (CAC) - This is the total amount of marketing cost spent to gain a new customer (Edgecomb, 2021). When figuring out this out you Alton to figure out the timeframe in which you are to evaluate this cost (Edgecomb, 2021). This is a great form of checking your analytics as you can easily see how it has changed over recent months.

Marketing Revenue Attribution - This is the process of determining how much revenue is generated from your marketing campaign (Edgecomb, 2021). This is vital step in any assessment as it clearly shows how worthwhile your marketing will be. If your MRA Is quite low, then it may be time to consider drastically altering your marketing.

Customer Lifetime Value (LTV) - As the name implies this is where a company can determine how much revenue is earned on average by a single customer. A good way to increase this is providing services to market new products to previous customers (Edgecomb, 2021). As they may be inclined to purchase something else.

Conclusion - There is no definitive one way to determine how well a marketing campaign has gone. You need to combine multiple methods to optimise performance. This will allow you to compare varying statistics and find your best approach for the future.

References

Edgecomb, C., 2021. The 10 marketing KPIs you should be tracking (updated for 2021). [online] Impactplus.com. Available at: <https: www.impactplus.com="" the-10-marketing-kpis-you-should-be-tracking=""> [Accessed 1 May 2021]. </https:>