Provide feedback to the below writing whether or not you believe there are any other metrics that can be considered in your peer’s example and explain why? What other metrics can be evaluated in this example? APA Citation
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I believe that it is possible to combine marketing campaign metrics into an analysis and create a strategic decision based off the metrics. “A marketers most useful information can be derived from an analysis of the effects of prior ad campaigns” (Bendle et al., 2010). While advertising metrics can be difficult to analyze (because it’s not simple to track the incremental sales, I think that overall if past campaigns contributed to a notable amount of sales, it would be beneficial for a business to replicate or tweak the campaign for equal or better performance.
“Marketers often find it useful to define audience sub-groups and generate separate reach and frequency statistics for each” (Bendle et al., 2010). This is a great strategy that can be used in combining marketing campaign metrics into a single analysis and making a strategic decision. “Two different media plans can yield comparable results in terms of costs and total exposures but differ in reach and frequency measures” (Bendle et al., 2010). An example of this would be a billboard and a subway advertisement. These are two different campaign strategies with the same end goal. However, one campaign has a high amount of traffic with cars passing by frequently, and another campaign has a captive audience. The metrics for these two campaigns may differ in quality but achieve the same end goal. Furthermore, if a business also wanted to implement a web campaign, “a certain number of web impressions need to be achieved to generate a reasonable number of orders…” (Bendle et al., 2010).
An example of a business using different campaign strategies and metrics to make a strategic decision is a bank advertising the opening of a new branch. If the community has a demographic spread of older and younger audiences, implementing various campaigns such as a billboard and web advertisements would be valuable in capturing a vast audience attention. A way to analyze the effectiveness of each campaign is to simply ask the branch visitor how they heard about the new branch. While the number of impressions could be large for the web and billboard, simply looking at the effectiveness of each in the form of a question could be a telling way to change a marketing strategy.
Reference
Bendle, N., Farris, P., Pfeifer, P., & Reibstein, D. (2010). Metrics that matter–to marketing managers. Marketing: Journal of Research and Management, 6(1), 18-23.
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