What Is Marketing Control?

Marketing control refers to a complete set of work procedures that companies use to track every aspect of the marketing campaign process to ensure that they can run according to planned goals. Marketing control involves estimating the results of marketing strategies and plans, and taking corrective action to ensure that goals are achieved. Marketing control mainly includes annual plan control, profit control, efficiency control and strategic control. ^[1]

Marketing control

Right!

Marketing control refers to a complete set of work procedures that companies use to track every aspect of the marketing campaign process to ensure that it can run according to planned goals. Marketing control involves estimating the results of marketing strategies and plans, and taking corrective action to ensure that goals are achieved. Marketing control mainly includes annual plan control, profit control, efficiency control and strategic control. ^[1]

Marketing control impact

What tools can be used to measure the impact of marketers' plans on a company's net book return?

The cost of marketing is high, and it is constantly rising. Increasingly, companies need measurement methods to reflect the impact of marketing on return on investment and shareholder value. Most companies are still unable to know the profitability brought by individual customers, market segments, geographic regions, marketing channels and order sizes, nor can they measure the impact of corporate advertising image plans and sponsorship activities on corporate books.

Some companies now use ABC to measure the resources consumed by each customer, market segment, channel, and region. After calculating the cost in this way, subtract this value from the total revenue to get the profitability of the corresponding marketing entity.

The best way to measure the profit effect of a marketing plan is to conduct marketing experiments in the corresponding regions or market segments. Some companies now use split cable 26 to send different messages to different customer groups and observe various responses. Measuring the profit effects of corporate image programs is still difficult because of the delayed effects of image projects.

Marketing control effectiveness

How to measure the effectiveness of marketing? For sales people, we have tangible numbers as a basis, but for marketing, how to solve this problem?

It depends on the situation. The results of direct mail and telephone promotions can be accurately known, we can try different product prices in different stores and cities, and also try various product designs and internal structures. On the other hand, we always lack effective ways to measure the effectiveness of mass advertising, so there is an urgent need for ways to measure the return on investment of sponsored activities. CEOs need more accounting information, and research in this area has now made some progress.

Marketing Control Basis

What measurement criteria can be used as a basis for judging marketing performance?

The choice of measurement should be determined jointly by the marketing department and the finance department. If the marketing department is solely responsible, it is possible to choose only the standards that are beneficial to itself; if the financial department is solely responsible, the marketing department will be in an untrusted position. Credibility can only be established when the two departments jointly select criteria. Moreover, the finance department will benefit from this practice, as it is well documented when considering marketing department requests for funding.

These measures include: market share, brand awareness, customer satisfaction, quality of related products, customer perceived value, customer loyalty, and customer loss rate.

Marketing Control Satisfaction

Does the company pay enough attention to customer satisfaction and take measures to improve it?

Most companies place more emphasis on increasing their market share than on improving customer satisfaction. this is not right. Customer satisfaction and customer perceived value are the keys to profitability. The higher the customer satisfaction, the greater the customer perceived value. There are many advantages to having a loyal customer. The cost of winning a new customer is 5-10 times higher than the cost of satisfying and retaining an existing customer. According to different industries, the customer loss rate is reduced by 5%, and corporate profits can be increased by 25% to 85%. What's more, the benefited customers can stay loyal to the business for longer.