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Today, no company can do without a good marketing strategy and an infallible communication plan to make itself known. The only worry is that most SMEs and even start-ups are reluctant to allocate a large budget to these posts because they do not know how to measure the return on investment or ROI they can produce. So, if you want to carry out an effective communication campaign, discover the actions to be taken to be able to quantify the results obtained in relation to the objectives.
A communication campaign that meets the objectives
Companies now have a wide choice of communication channels to carry out their marketing campaign compared to what happened a few years ago. Faced with such an embarrassment of choice, making a decision on the right strategy can be difficult, especially for companies that do not have a huge amount for their marketing and communication campaign.
Therefore, before choosing the appropriate communication medium, it is best to know for what purpose you want to carry out a campaign. You can make a list of the most effective communication actions, and then determine the outcome indicators to measure the impact of the action taken on the intended purpose.
Indicator Tracking Tables (KPIs)
To measure the ROI in communication, the use of the tables mentioning the targets, the data and the steps related to the adopted strategy is essential. With these tables, it is possible to see the evolution of actions and know what corrections to make for the future. Most SMEs adopt this technique to define the right communication strategy.
For example, if you plan to find out how much it cost you to run a marketing campaign from creative mailing, you will need to know how much mailing you have sent and how many appointments have been generated through this campaign and subsequently number of calls to action made by your target.
You can then know if this communication tool has been effective and what are the corrections to make when launching the next campaign. It is advisable to choose an effective action that offers an excellent return on investment, whatever the size of your company.
The cost of acquiring a new prospect
How much is your company willing to spend to acquire a new customer? This question is important to know how much you want to invest in your communication and marketing project. What’s more, it will let you know if you can get a return on investment that’s better than what you’ve decided.
However, to avoid misleading the definition of your ROI in relation to the communication campaign you have undertaken, some points must be considered. This concerns, among other things, the duration of your campaign, the additional sales made outside the campaign or the products or services that would have found a buyer even without having conducted a communication campaign.
Let’s take a simple example to illustrate this other step. If you have decided to invest 250 euros in advertising and thanks to this campaign you have attracted 10 new customers, know that a customer will have cost you 25 euros. Compared to the turnover that you realized, these 25 euros per customer were really worth their peson d’or?
Here are some simple steps that every entrepreneur can take to quantify the ROI in communication in his business and to correct the shot according to his objectives.