In order to maintain stable and efficient operation, enterprises must evaluate and summarize each promotional activity and accumulate experience for future promotional activities. Promotional effectiveness evaluation can be divided into process evaluation and final evaluation. Process evaluation is conducted before, during and after the promotion. Since the promotion of general e-commerce is relatively short, process evaluation is mostly qualitative evaluation (some quantitative data observation). After the promotion is over, final evaluation is conducted, and there is more time. It is recommended to supplement quantitative evaluation.
1. Process evaluation
(1) Pre-evaluation. The survey conducted before the implementation of the promotion plan is called pre-evaluation. Its significance is to evaluate the feasibility and effectiveness of the promotion plan, or to find the best solution among multiple feasible solutions. The pre-evaluation methods mainly include the opinion solicitation method and the trial method.
(2) In-progress evaluation. In-progress evaluation mainly uses consumer surveys to understand consumer attitudes during the promotion, such as the number of participants, purchase volume and repeat purchase rate. The survey content is mainly divided into three aspects. D. Consumers’ reaction to the promotion during the promotion. Indicators include the number of participants, purchase volume, repurchase rate, and increase in purchase volume. @ The structure of consumers participating in the promotion, including the ratio of new and old consumers, the repurchase rate of new and old consumers, and the increase in the number of new consumers. @ Consumer suggestions, including consumers’ motivation, attitude, requirements, and evaluation.
(3) Post-evaluation. Post-evaluation is an evaluation of the effect of the promotion after it ends. Evaluation methods mainly include comparison and survey.
2. Final evaluation
Final evaluation can be combined with post-evaluation. Generally, a conclusion on the degree of goal achievement is given. It can be qualitatively described as: goal achievement; or a quantitative indicator of achievement can be given, such as exceeding the goal by 10%. In addition, it is recommended that marketers perform a quick ROI calculation for each promotion. The basic formula for calculating ROI is:
ROI=profit from investment/investment amount x 100%
The formula may seem simple, but in practice, “profit from investment” is not easy to measure, even in an e-commerce environment. Not only is it difficult to calculate the income and expenditure for calculating profits, but even the investment amount attributable to a certain promotional activity cannot be calculated. Marketing staff will look at you innocently and say, “I don’t know where the money went.” Therefore, CMOs should use this formula flexibly to pursue two goals:
(1) Simplify the calculation method of performance evaluation indicators as much as possible to ensure that limited data can support the calculation of ROI.
(2) With an understanding of the principle of the formula, boldly rewrite the formula to obtain some meaningful quantitative evaluation data from an operational perspective.