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Market and Social Research > Marketing effectiveness review and optimization
Marketing effectiveness review and optimization
- MVA BMSR group is equipped with the expertise and talents for marketing analytics on measuring the effectiveness of marketing promotion efforts, in connection with the investments made.
- Five major parameters are measured on marketing effectiveness, vis--vis
- Awareness of such marketing and promotion efforts (top-of-mind, top-three, and total recall – unaided and aided = total salience)
- Sources of awareness – check on media efficiency per campaign
- Brand or name association: what brand/ product category sponsors such marketing and promotion (ad or event)? Is the marketing investment spent benefiting competitors?
- Message take-out and recall of the marketing promotion efforts: are the messages clear and coherent? Are they relevant to the target market? Do they coincide with the intended messages set-forth by the brand/ product?
- Does it appeal to ‘me’ (the end consumer)? How and why? Does it lead to product purchase (initial or repeated)/ service subscription (initial or lapsed)?
- By analyzing the results of the above parameters through time, a database of findings will be created to form a solid benchmark for future campaigns.
- Budget optimization will be achieved when analyzing the results versus the investment made:
- Are the media spending justified? Which media vehicle is/are more effective in generating awareness and recall?
- Is the spending on the creative concept and production justified? How well are they understood by the target customers?
- Has the whole campaign generate any additional sales versus the seasonal norms – past three years’ tracking?
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