The central aim of many businesses is to market their products and or services. Time, resources and energy go into various advertisements to ensure that these products or services are marketed to a wider
audience. This is why it can be frustrating when many companies invest that much into advertisements and yet cannot categorically trace the marketing performance.
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However, with the advent of
social media, there are many tools now available to measure the marketing performance of your business.
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Track Sales
This is the traditional method of tracking
marketing performance. The cumulative sale should be divided by how much each product cost. Calculate the average over a period of months and get the percentage increase per month. By so doing, you can track your marketing performance in a tangible way as the results are gotten from the products that are being sold online by various platforms.
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Social Media Tools
Various social media platforms currently give insight into the performance of a creator’s social media handle. This is why it is so important to always talk with social media managers and request insights from the page to see how the page is doing. This helps track engagement and can tell what items are saved. Social media tools are a great way to track marketing performance on social media handles.
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Functional Apps
Another way to track marketing performance is by enabling apps whose sole function is to track sales. These apps are quite useful for SMEs and influencers because they are able to track affiliate links. These affiliate links are created by the parent company and sent by the company’s marketers to brand ambassadors to encourage their followers to purchase the company’s product and/or service. Through these links, marketers, small businesses and even start-ups are able to track the sales of these products or services. This is a great way to track your marketing performance.
A bonus method that thoroughly assists to track your marketing performances is
Survey. By undertaking surveys, a company is able to perform a large overview of the market space. A survey answers, what products add growth? what products are worse off? and, what is it they need to improve on? This is especially useful when the survey questions are targeted to know how the performance is going. It goes without saying that HR Rep or analyst needs to deeply set out questions that would target the marketing performance of the company.
All in all, tracking marketing performance is a great way to improve efficiency and effectiveness in the business process. All companies big or small are always encouraged to track their marketing performance to see what products do well, how to improve in service and how they can strive to satisfy their clients better.
Featured Image Source: Moderno Strategies
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