What Is a Marketing Performance Assessment?
Once you’ve put tons of work into planning, creating, and executing a marketing campaign, you might be wondering how to assess the performance of these marketing activities. That’s where a marketing performance assessment comes in. A marketing performance assessment is a means of measuring the success of a marketing campaign or ongoing marketing activity in order to determine whether they can be improved upon in the future.
A marketing performance assessment might be undertaken by the marketing department themselves or by an external firm the company brings in. The aim is to objectively discover the exact ways marketing activities have been successful or unsuccessful and ways they could be improved or adjusted so that future marketing campaigns increase ROI, improve name recognition, or meet other marketing KPIs.
Data used in marketing performance assessment
Marketing performance assessments are typically undertaken either after the completion of a marketing campaign, or before the start of a new fiscal year when budgeting decisions are being made. For either type of marketing performance, the marketing department will most likely be required to compile the following data and information:
- Website traffic during the campaign or time period assessed, including data on keywords targeted, ads placed, and traffic sources
- Details on promotional activity, including dates and times of sales, and how they were publicized
- Sales data from the period assessed
- Details on any marketing activity undertaken, including email, social media, SEO, blog posts, and other marketing activities
- Marketing activity budget and spend figures
When performing a marketing performance analysis, it’s helpful to be able to compare data with previous campaigns or year-on-year data to better understand the factors that played a role in the success or failure of the campaign.
Once the relevant information has been compiled, it’s time to look for the channels or activities that drove the most traffic or resulted in the most sales. The marketing performance assessment report should include that information and information about the lowest-performing channels and activities so that future campaigns can take this information into account. If certain activities were understaffed and it is suspected that this influenced performance, make sure to note this in the report as well.
Getting a full picture of a marketing campaign’s efficacy can help marketing teams optimize their efforts through channels that they’ve found to be particularly successful or target audiences that are receptive to the company’s messaging.