Evaluate the performance of each marketing channel and campaign by comparing expenditure against sales conversions. Calculate ROI. Identify underperforming areas by analyzing low ROI results and investigate potential causes. Benchmark our performance against industry standards and historical data. Develop actionable recommendations to optimize budget allocation and improve campaign effectiveness. Compile findings into a detailed report for stakeholders.

Data Collection:

• Gather data on marketing expenditures across all channels (e.g., digital ads, social media, events).
• Collect sales conversion data corresponding to each marketing campaign.

Define Metrics:

• Determine the key performance indicators (KPIs) for measuring ROI

Analyze Campaign Performance:

• Compare the marketing spend with the number of converted sales for each campaign.
• Calculate the ROI for each marketing channel and campaign using the defined metrics.

Identify Inefficiencies:

• Pinpoint campaigns or channels with low ROI and analyze reasons for underperformance (e.g., poor targeting, low engagement).

Benchmarking:

• Compare our marketing ROI with industry benchmarks to gauge relative performance.

Recommendations:

• Develop actionable recommendations to reallocate budget or optimize underperforming campaigns based on the analysis.

Report Creation:

• Compile the findings, insights, and recommendations into a comprehensive report for stakeholders.

Staff Time:

• Mentorship: Regular meetings with experienced team members for guidance.
• Expert Sessions: Access to marketing and finance experts for specific questions.

Access to Tools and Technology:

• Data Analysis Software: Tools like Excel and Google Analytics for analyzing data.
• CRM and Marketing Platforms: Access to systems for gathering campaign data.

Access to Data:

• Marketing Expenditure Data: Information on spending across marketing channels.
• Sales Conversion Data: Data on sales results from each campaign.

Training and Resources:

• Workshops: Sessions on KPIs, ROI calculation, and data analysis.
• Guides and Templates: Helpful materials for data collection and reporting.

Collaborative Support:

• Team Collaboration: Encourage group work and sharing of insights.
• Feedback: Provide constructive feedback on analysis and recommendations.