Here is the situation: You have committed to spend a significant amount of money on a marketing campaign and you want to make sure the effort of your team and the money spent is providing sales opportunities.
- Have the marketing manager tell you once a month that things are going awesome and sales opportunities are really going to be rolling in soon.
- Wait until after the X many months campaign is over to tally any sales that are considered to be created from the marketing campaign versus other sales and marketing efforts. Be prepared for your sales team to have a different story than the marketing manager regarding where the sales were generated from.
- You setup a very specific high level dashboard for the campaign with a summary drill down report which also has a details drill down report that is real time and reviewed by you based on actual data versus people’s interpretation of what is happening.
Conclusion: Don’t commit to spending money on marketing if you aren’t going to invest in the tracking and reporting to see the results of your marketing time and money. If the campaign is crushing it you are going to want to know projections based on incoming sales and maybe even double down on the marketing efforts. If it isn’t generating the results you expected, you have the ability to change the messaging, the target market or kill the campaign sooner than later and mark it as a learning experience and go back to the drawing board. Ultimately, trust your team with what they are saying is going on, but verify what you are being told with data.