Marketing accountability and promotional Insight
Marketing accountability is best carried out by a marketer defining the promotion success and setting the key performance indicator (KPI), with someone else carrying out the measuring and recording of the KPI. Promotions cost money and are undertaken to achieve specific promotional objectives, which are normally part of a campaign to achieve a marketing objective. Evaluation of promotions justifies budgets to accounting persons. It is suggested that the marketing budget is split into two – the first part for 'maintenance', that is, to retaining the existing market share level; and the second part for revenue expenditure. There are three main stages of promotional marketing accountability: Think accountability, measure and evaluate. All mail-in promotions produce a list of people who took up the offer. This forms an excellent basis for running a simple postal questionnaire. Electronic point of sale data will determine what is bought and when, and which items were on promotion. Store cards will place that with customers.