How do you evaluate and compare the effectiveness of different campaign types and tactics?

1 Set clear and relevant goals

Before you launch any campaign, you need to define what you want to achieve and how you will measure it. Depending on your strategy and audience, your goals could be awareness, engagement, leads, conversions, retention, or loyalty. You also need to align your goals with your business objectives and budget. For example, if you want to increase sales, you need to know how much each sale is worth and how much you can spend to acquire it.

2 Choose the right metrics and KPIs

Once you have your goals, you need to select the metrics and key performance indicators (KPIs) that will help you track and evaluate your progress. Metrics are the data points that you collect and analyze, such as impressions, clicks, views, or visits. KPIs are the metrics that matter most for your goals, such as click-through rate, conversion rate, cost per lead, or customer lifetime value. You should choose the metrics and KPIs that are relevant, actionable, and comparable for each campaign type and tactic.

3 Use a consistent and reliable measurement framework

To compare the effectiveness of different campaign types and tactics, you need to use a consistent and reliable measurement framework that allows you to collect, organize, and analyze your data. A common framework is the marketing funnel, which divides the customer journey into stages, such as awareness, consideration, decision, and retention. You can map your goals, metrics, and KPIs to each stage of the funnel and compare how each campaign type and tactic performs at each stage.

5 Use benchmarks and best practices

Another way to evaluate and compare the effectiveness of different campaign types and tactics is to use benchmarks and best practices. Benchmarks are the average or standard performance of similar campaigns in your industry or market. Best practices are the proven or recommended methods or guidelines for achieving your goals. You can use tools such as reports, surveys, or case studies to find and apply benchmarks and best practices to your campaigns.

6 Review and report your results

The final step to evaluate and compare the effectiveness of different campaign types and tactics is to review and report your results. Reviewing means analyzing your data and drawing insights and conclusions from your findings. Reporting means communicating your results and recommendations to your stakeholders, such as clients, managers, or team members. You can use tools such as dashboards, charts, or slides to visualize and present your data and insights.