Most companies run a multitude of marketing campaigns and initiatives
over the course of a year, an approach that typically leads to some degree
of success. The truth is, however, that in most cases, there is a high
degree of failure when all marketing initiatives are looked at collectively.
If you read the preceding statement once more, you may notice the root
of the problem when it comes to evaluating marketing success and failure:
At Dot Designers, we believe that waiting until the end of the year to conduct
a marketing audit to determine the ROMI (Return on Marketing Investment)
is the problem itself. In fact, waiting until the end of a marketing campaign
to judge its effectiveness and ROMI is too late as well. To truly evaluate
each marketing initiative, you must treat each and every initiative like
an investment in your marketing portfolio.
Great marketing requires that a company must be all over the results
of the campaign, measuring response rates by raw numbers, percentages
of the target group, sales volume, market share, and other revealing benchmarks.
These factors should be monitored by the day, the hour, even the minute
(in cases where responses can be measured via phone calls or website hits).
It is critical to understand every variable that can impact results and
what you can do to raise the bar in your favor. If something works, you
should do more of it, and do it as quickly as possible.
While the monitoring, measuring, and tracking fundamentals are not as
compelling or inspirational as the creative process, the ability to stay
focused on the tactical implementation provides a business discipline
that helps to assure a significant Return on Marketing Investment and
that’s what Dot Designers Tracking and Analysis is all about.