Assessing one program’s effectiveness is crucial to its success. Evaluations of the advertisements and marketing strategy could guide the company if there adjustments are needed. Evaluation of the trend of existing customers would be one way of checking if objectives are being met. This could be on the form of surveys and questionnaires that will be mailed to them regarding how they foresee the services being provided. Nowadays, there is what a program called Computer-based CRM (Customer Relationship Management) systems.
This program offers a relatively easy and cost-effective ways of managing customer and enquiries information. This would help in recording and measuring enquiries and advertising responses. Important questions that needs to be answered to gauge the effectiveness of the media used would be asking “How did you hear about us? ” or “How did you find us? ” Another evaluation program that will be use is the media efficiency ratio (MER), this would measure Web site sales that are solely driven by the television media airtime purchased should be considered in the revenue calculation.
In order to use this, you will need to display a dedicated Web address in your advertising and track those sales through Web counters and a dedicated 800 number to HSBC’s call center. (Swanson, 2005)
Financial Plan Billboard advertisements for the art work ? 300,000 for the installation and contract of 16 weeks ? 200,000 Newspaper advertisements The Herald/Scotland on Sunday/The Press and Journal /Daily Telegraph/The Courier & Advertiser /Financial Times/Sunday Times/The Guardian /The Independent/The Times/Daily Express/Metro For a 2” x 2” ad ($ 13,000 each) ? 2, 288,000 (twice a week/ Thursdays and Sundays)
Television advertisement Channel 4 including schools and on-line chat /Freeview digital TV /IRN (Independent Radio News) /ITN (Independent Television News) /ITV (Independent TeleVision) /London News Network /NASTA (National Student Television Association) /Sky News /Travel (Landmark Travel Channel) For a 30 second commercial during primetime ? 4, 200,000 ($ 200,000 each) (thrice a week/ Tuesday, Thursday and Sunday) Online Advertisements Pay per click/ per year banner ad on websites 7,488,000
Reference: Chapman, Alan. 1995. Marketing and Advertising Tips. April 30, http://news.bbc.co.uk/1/hi/business/3521183.stm
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