The document discusses various aspects of digital marketing and marketing communication. It begins with an overview of digital marketing and its importance. It then covers specific digital marketing tactics like social media marketing, content marketing, search engine optimization, pay-per-click marketing, affiliate marketing, native advertising, influencer marketing, marketing automation, and email marketing. For each tactic, it provides details on what it is, how it works, and tips for effective implementation. It also discusses differences between digital marketing for B2B versus B2C businesses.

1. Agricultural marketing
25th & 26th Classes
Marketing Communication
HIMADRI SINHA, Ph.D

2. Agenda
1. Digital Marketing
2. Mobile Marketing
3. Social Marketing and Social Media Marketing
4. Training the Sales Force
5. Selecting the Media
6. Establishing the Promotional Budget
7. Monitoring the Effectiveness of Marketing Communication

3. Digital Marketing
Any marketing that uses electronic
devices and can be used by marketing
specialists to convey promotional
messaging and measure its impact
through your customer journey. In
practice, digital marketing typically refers
to marketing campaigns that appear on a
computer, phone, tablet, or other device.
It can take many forms, including online
video, display ads, search engine
marketing, paid social ads and social
media posts. Digital marketing is often
compared to “traditional marketing” such
as magazine ads, billboards, and direct
mail. Oddly, television is usually lumped
in with traditional marketing.

4. Digital Marketing
Why is digital marketing important?
Any type of marketing can help your business
thrive. However, digital marketing has
become increasingly important because of
how accessible digital channels are. In fact,
there were 5 billion internet users globally in
April 2022 alone.
From social media to text messages, there are
many ways to use digital marketing tactics in
order to communicate with your target
audience. Additionally, digital marketing has
minimal upfront costs, making it a cost-
effective marketing technique for small
businesses.

5. Digital Marketing: B2B versus B2C Digital Marketing
Digital marketing strategies work for B2B (business to business) as well as B2C
(business to consumer) companies, but best practices differ significantly between
the two. Here's a closer look at how digital marketing is used in B2B and B2C
marketing strategies.
B2B B2C
1 Clients tend to have longer decision-
making processes, and thus longer
sales funnels. Relationship-building
strategies work better for these
clients,
Customers tend to respond better to
short-term offers and messages.
2 B2B transactions are usually based on
logic and evidence, which is what
skilled B2B digital marketers present.
B2C content is more likely to be
emotionally-based, focusing on
making the customer feel good about
a purchase.

6. Digital Marketing: B2B versus B2C Digital Marketing
B2B B2C
3 B2B decisions tend to need more than
one person's input. The marketing
materials that best drive these decisions
tend to be shareable and downloadable.
B2C customers, on the other hand,
favor one-on-one connections with
a brand.
4 Of course, there are exceptions to every rule. A B2C company with a high-
ticket product, such as a car or computer, might offer more informative and
serious content. As a result, your digital marketing strategy always needs to
be geared toward your own customer base, whether you're B2B or B2C.
5 Considering the current audience, well-informed and targeted online
marketing campaigns can be created. This ensure that the marketing efforts
are effective and one can capture the attention of potential customers.

7. Digital Marketing: Types of digital marketing
There are as many specializations within digital
marketing as there are ways of interacting using
digital media. Here are a few key examples of types
of digital marketing tactics.
1. Search engine optimization (SEO)
2. Content marketing (CM)
3. Social media marketing (SMM)
4. Pay-per-click marketing (PPCM)
5. Affiliate marketing (AM)
6. Native advertising (NA)
7. Influencer marketing (IM)
8. Marketing automation (MA)
9. Email marketing (EM)
10. Mobile marketing (MM)
Digital
Marketing
SEO
CM
SMM
PPCM
AM
NA
IM
MA
EM
MM

8. Digital Marketing: Types of digital marketing
There are as many specializations within digital marketing as there are ways of
interacting using digital media. Here are a few key examples of types of digital
marketing tactics.
1. Search engine optimization
Search engine optimization, or SEO, is technically a marketing tool rather than a
form of marketing in itself. The Balance defines it as “the art and science of
making web pages attractive to search engines.”
The "art and science" part of SEO is what’s most important. SEO is a science
because it requires you to research and weigh different contributing factors to
achieve the highest possible ranking on a search engine results page (SERP).
Today, the most important elements to consider when optimizing a web page for
search engines include:

9. Digital Marketing
Today, the most important elements to consider when optimizing a web page for
search engines include:
• Quality of content
• Level of user engagement
• Mobile-friendliness
• Number and quality of inbound links
In addition to the elements above, you need to optimize technical SEO, which is
all the back-end components of your site. This includes URL structure, loading
times, and broken links. Improving your technical SEO can help search engines
better navigate and crawl your site.
The strategic use of these factors makes search engine optimization a science, but
the unpredictability involved makes it an art.

10. Digital Marketing
Ultimately, the goal is to rank on the first page of a search engine’s result page.
This ensures that those searching for a specific query related to your brand can
easily find your products or services. While there are many search engines, digital
marketers often focus on Google since it's a global leader in the search engine
market.
In SEO, there's no quantifiable rubric or consistent rule for ranking highly on
search engines. Google and other search engines change their algorithm almost
constantly, so it's impossible to make exact predictions. What you can do is closely
monitor your page's performance and make adjustments to your strategy
accordingly.

11. Digital Marketing
Content marketing
As mentioned, the quality of your content is a key component of an optimized page. As a
result, SEO is a major factor in content marketing, a strategy based on the distribution
of relevant and valuable content to a target audience.
As in any marketing strategy, the goal of content marketing is to attract leads that
ultimately convert into customers. But it does so differently than traditional advertising.
Instead of enticing prospects with potential value from a product or service, it offers
value for free in the form of written material, such as:
• Blog posts
• E-books
• Newsletters
• Video or audio transcripts
• Whitepapers
• Infographics

12. Digital Marketing
Content marketing matters, and there are plenty of stats to prove it:
• 84% of consumers expect companies to produce entertaining and helpful
content experiences
• 62% of companies that have at least 5,000 employees produce content daily
• 92% of marketers believe that their company values content as an important
asset
As effective as content marketing is, it can be tricky. Content marketing writers
need to be able to rank highly in search engine results while also engaging people
who will read the material, share it, and interact further with the brand. When the
content is relevant, it can establish strong relationships throughout the pipeline.

13. Digital Marketing
To create effective content that’s highly relevant and engaging, it’s important to
identify your audience. Who are you ultimately trying to reach with your content
marketing efforts? Once you have a better grasp of your audience, you can
determine the type of content you'll create. You can use many formats of content in
your content marketing, including videos, blog posts, printable worksheets, and
more.
Regardless of which content you create, it’s a good idea to follow content
marketing best practices. This means making content that’s grammatically correct,
free of errors, easy to understand, relevant, and interesting. Your content should
also funnel readers to the next stage in the pipeline, whether that’s a free
consultation with a sales representative or a signup page.

14. Digital Marketing
Content marketing matters, and there are plenty of stats to prove it:
• 84% of consumers expect companies to produce entertaining and helpful content
experiences
• 62% of companies that have at least 5,000 employees produce content daily
• 92% of marketers believe that their company values content as an important asset
As effective as content marketing is, it can be tricky. Content marketing writers need to
be able to rank highly in search engine results while also engaging people who will read
the material, share it, and interact further with the brand. When the content is relevant, it
can establish strong relationships throughout the pipeline.
To create effective content that’s highly relevant and engaging, it’s important to identify
your audience. Who are you ultimately trying to reach with your content marketing
efforts? Once you have a better grasp of your audience, you can determine the type of
content you'll create. You can use many formats of content in your content marketing,
including videos, blog posts, printable worksheets, and more.

15. Digital Marketing
Social media marketing
Social media marketing means driving traffic and brand awareness by engaging
people in discussion online. You can use social media marketing to highlight your
brand, products, services, culture, and more. With billions of people spending their
time engaging on social media platforms, focusing on social media marketing can
be worthwhile.
The most popular digital platforms for social media marketing are Facebook,
Twitter, and Instagram, with LinkedIn and YouTube not far behind. Ultimately,
which social media platforms you use for your business depends on your goals and
audience. For example, if you want to find new leads for your FinTech startup,
targeting your audience on LinkedIn is a good idea since industry professionals are
active on the platform. On the other hand, running social media ads on Instagram
may be better for your brand if you run a B2C focused on younger consumers.

16. Digital Marketing
Social media marketing
Because social media marketing involves active audience participation, it has
become a popular way of getting attention. It's the most popular content medium
for B2C digital marketers at 96%, and it's gaining ground in the B2B sphere as
well. According to the Content Marketing Institute, 61% of B2B content marketers
increased their use of social media this year.
Social media marketing offers built-in engagement metrics, which are extremely
useful in helping you to understand how well you're reaching your audience. You
get to decide which types of interactions mean the most to you, whether that means
the number of shares, comments, or total clicks to your website.

17. Digital Marketing
Social media marketing
Direct purchase may not even be a goal of your social media marketing strategy. Many
brands use social media marketing to start dialogues with audiences rather than encourage
them to spend money right away. This is especially common in brands that target older
audiences or offer products and services not appropriate for impulse buys. It all depends on
your company's social media marketing goals.
To create an effective social media marketing strategy, it’s crucial to follow best practices.
Here are a few of the most important social media marketing best practices:
• Craft high-quality and engaging content
• Reply to comments and questions in a professional manner
• Create a social media posting schedule
• Post at the right time
• Hire social media managers to support your marketing efforts
• Know your audience and which social media channels they’re most active on

18. Digital Marketing
Pay-per-click marketing
Pay-per-click, or PPC, is a form of digital marketing in which you pay a fee every
time someone clicks on your digital ads. So, instead of paying a set amount to
constantly run targeted ads on online channels, you only pay for the ads
individuals interact with. How and when people see your ad is a bit more
complicated.
One of the most common types of PPC is search engine advertising, and because
Google is the most popular search engine, many businesses use Google Ads for
this purpose. When a spot is available on a search engine results page, also known
as a SERP, the engine fills the spot with what is essentially an instant auction.

19. Digital Marketing
Pay-per-click marketing
An algorithm prioritizes each available ad based on a number of factors, including:
• Ad quality
• Keyword relevance
• Landing page quality
• Bid amount
PPC ads are then placed at the top of search engine result pages based on the factors above
whenever a person searches for a specific query.
Each PPC campaign has 1 or more target actions that viewers are meant to complete after
clicking an ad. These actions are known as conversions, and they can be transactional or non-
transactional. Making a purchase is a conversion, but so is a newsletter signup or a call made to
your home office.
Whatever you choose as your target conversions, you can track them via your chosen digital
marketing channels to see how your campaign is doing.

20. Digital Marketing
Affiliate marketing
Affiliate marketing is a digital marketing tactic that lets someone make money by
promoting another person's business. You could be either the promoter or the
business who works with the promoter, but the process is the same in either case.
It works using a revenue sharing model. If you're the affiliate, you get a
commission every time someone purchases the item that you promote. If you're the
merchant, you pay the affiliate for every sale they help you make.
Some affiliate marketers choose to review the products of just 1 company, perhaps
on a blog or other third-party site. Others have relationships with multiple
merchants.
Whether you want to be an affiliate or find one, the first step is to make a
connection with the other party. You can use digital channels designed to connect
affiliates with retailers, or you can start or join a single-retailer program.

21. Digital Marketing
Affiliate marketing
If you're a retailer and you choose to work directly with affiliates, there are many
things you can do to make your program appealing to potential promoters. You'll
need to provide those affiliates with the tools that they need to succeed. That
includes incentives for great results as well as marketing tools and pre-made
materials.

22. Digital Marketing
Native advertising
Native advertising is digital marketing in disguise. Its goal is to blend in with its
surrounding content so that it’s less blatantly obvious as advertising.
Native advertising was created in reaction to the cynicism of today's consumers
toward ads. Knowing that the creator of an ad pays to run it, many consumers will
conclude that the ad is biased and consequently ignore it.
A native ad gets around this bias by offering information or entertainment before it
gets to anything promotional, downplaying the "ad" aspect.

23. Digital Marketing
Influencer marketing
Like affiliate marketing, influencer marketing relies on working with an
influencer–an individual with a large following, such as a celebrity, industry
expert, or content creator–in exchange for exposure. In many cases, these
influencers will endorse your products or services to their followers on several
social media channels.
Influencer marketing works well for B2B and B2C companies who want to reach
new audiences. However, it’s important to partner with reputable influencers since
they’re essentially representing your brand. The wrong influencer can tarnish the
trust consumers have with your business.

24. Digital Marketing
Marketing automation
Marketing automation uses software to power digital marketing campaigns,
improving the efficiency and relevance of advertising. As a result, you can focus
on creating the strategy behind your digital marketing efforts instead of
cumbersome and time-consuming processes.
While marketing automation may seem like a luxury tool your business can do
without, it can significantly improve the engagement between you and your
audience.
According to statistics:
• 90% of US consumers find personalization either “very” or “somewhat” appealing
• 81% of consumers would like the brands they engage with to understand them better
• 77% of companies believe in the value of real-time personalization, yet 60% struggle
with it

25. Digital Marketing
Marketing automation
Marketing automation lets companies keep up with the expectation of
personalization. It allows brands to:
• Collect and analyze consumer information
• Design targeted marketing campaigns
• Send and post digital marketing messages at the right times to the right audiences
Many marketing automation tools use prospect engagement (or lack thereof) with
a particular message to determine when and how to reach out next. This level of
real-time customization means that you can effectively create an individualized
marketing strategy for each customer without any additional time investment.
Mailchimp's marketing automation tools ensure you can interact with your
audience via behavior-based automations, transactional emails, date-based
automations, and more.

26. Digital Marketing
Email marketing
The concept of email marketing is simple—you send a promotional message and
hope that your prospect clicks on it. However, the execution is much more
complex. First of all, you have to make sure that your emails are wanted. This
means having an opt-in list that does the following:
• Individualizes the content, both in the body and in the subject line
• States clearly what kind of emails the subscriber will get
• An email signature that offers a clear unsubscribe option
• Integrates both transactional and promotional emails
You want your prospects to see your campaign as a valued service, not just as a
promotional tool.
Email marketing is a proven, effective technique all on its own: 89% of surveyed
professionals named it as their most effective lead generator.

27. Digital Marketing
Email marketing
It can be even better if you incorporate other digital marketing techniques such as
marketing automation, which lets you segment and schedule your emails so that
they meet your customer's needs more effectively.
If you’re considering email marketing, here are a few tips that can help you craft
great email marketing campaigns:
• Segment your audience to send relevant campaigns to the right people
• Ensure emails look good on mobile devices
• Create a campaign schedule
• Run A/B tests

28. Digital Marketing
Mobile marketing
Mobile marketing is a digital marketing strategy that allows you to engage with
your target audience on their mobile devices, such as smartphones and tablets. This
can be via SMS and MMS messages, social media notifications, mobile app alerts,
and more.
It’s crucial to ensure that all content is optimized for mobile devices. According to
the Pew Research Center, 85% of Americans own a smartphone, so your marketing
efforts can go a long way when you create content for computer and mobile
screens.

29. Training the Sales Force
Why train?
The purpose of training is to improve the overall
competence of members of a sale steam:
• impart knowledge of the company, its products,
and its markets
• create or change attitudes that affect performance
• develop skills that increase performance
• develop habits that contribute to improved
performance
• reduce the level of field management supervision
subsequently needed, or to enable managers to
widen their span of control and take on other
duties or more subordinates
• increase job satisfaction (reducing sales force
turnover).

30. Training the Sales Force
Evaluating the Sales Force
Creating Sales Force Strategy
Recruiting, Training & Rewarding the Sales Force
Sales Force Management Process
Setting Sales Force Objectives

31. Training the Sales Force
What is sales-force training?
Training is that continuous process which has four elements namely,
telling the salesmen, showing them, letting them do it and checking
their doing and making sure that they are up to the expectations.
Methods of training
• Trailhead.
• Self-paced and Instructor-led Training.
• Digital Adoption Platform-Apty.

32. Training the Sales Force: Methods of training
Trailhead: Trailhead Is the Fun Way to Learn. Get hands-on and learn the
Salesforce, digital, and soft skills you need to succeed from anywhere for free.
Earn Resume-Worthy Credentials. Prove your skills and earn globally-recognized
credentials that demonstrate your expertise to current and future employers.
Self-paced and Instructor-led Training: Instructor-led Courses (ILC) are
for students who prefer a structured learning pace with instructor support.
Lessons are gated and released biweekly. Self-paced Tutorials (SPT) are for
students who prefer to learn at their own pace and are comfortable with self-
guidance.
Digital Adoption Platform: Digital adoption platforms (DAPs) are a type of
digital adoption solution that integrates fully with enterprise applications. The
software walks users through different parts of the application, offering step-by-step
instructions to help them complete specific tasks.

33. Training the Sales Force
How to train and manage a new sales force?
1. Listen In On To Demo And Pitch Calls.
2. Make Training Simple And Customized.
3. Shadow A Skilled Salesperson.
4. Get Out In The Field.
5. Understand Client Pain Points.
6. Combine Training Modules And In-Person Training.
7. Review Wins And Lost Opportunities.
8. Make It Personal.

34. Selecting the Media
Media selection is finding the most cost-effective media to deliver the desired
number and type of exposure to the target audience.
For an effective media selection a firm must take the following factors into
consideration:
• Budget: A firm with a limited budget for promotion and advertising needs to limit
the coverage amount a specific media will provide. It should keep a balance
between its budget and the coverage amount.
• Objectives of the Campaign: The campaign’s objectives are one of the factors that
will affect the budget and the amount of coverage. If the campaign objective is
raising the firm’s brand awareness among the youth market then it will affect any
decision the firm makes above. In this case, the firm needs to spend more on
specific publications to meet the objectives.

35. Selecting the Media
• Target Audience: The media the firm selects is certainly influenced by its target
audience. The firm needs to select the media that its target audience is related to
such as the newspapers or magazines, they read or the social media sites they use.
• Concentration: The firm’s campaign message’s concentration or focus should
also be considered whether it should be emotional or clear cut.
• Media’s Readership: Readership means the number of times readers have read the
publication.
• Media’s Circulation: A firm needs to calculate the total circulation of the chosen
media.
• Timing: The firm will also consider when it wants to start the promotional
campaign while media selection.

36. Selecting the Media
What are the steps in selecting media?
Process and steps in media selection: Media planning involves following steps:
1. To know about target audience.
2. To consider various factors affecting media planning.
3. To identify the geographical area.
4. Establishing media objectives.
5. Selecting suitable media.
6. Selecting optimum media-mix.
7. Executing advertising program.

37. Establishing the Promotional Budget
While establishing objectives is an important part of the planning process, the
limitations of the budget are important too. No organization has an unlimited
budget, so objectives must be set with the budget in mind.
Budget Setting Approaches :
1. Marginal Analysis: As advertising/promotional expenditures increase, sales and
gross margins also increase to a point, but then they level off. Profits are shown
to be a result of the gross margin minus advertising expenditures. Using this
theory to establish its budget, a firm would continue to spend
advertising/promotional dollars as long as the marginal revenues created by
these expenditures exceeded the incremental advertising/promotional costs.

38. Establishing the Promotional Budget
Budget Setting Approaches :
The optimal expenditure level is the
point where marginal costs equal the
marginal revenues they
generate. While marginal analysis
seems logical intuitively, certain
weaknesses limit its usefulness. These
weaknesses include the assumptions
that (1) sales are a direct result
of advertising and promotional
expenditures and this effect can be
measured and (2) advertising and
promotion are solely responsible for
sales.

39. Establishing the Promotional Budget
2. Top-Down Approaches
In this approach the budgetary amount is established (usually at an executive level) and then
the monies are passed down to the various departments. These budgets are essentially
predetermined and have no true theoretical basis. Top-down methods include the affordable
method, arbitrary allocation, percentage of sales, competitive parity, and return on investment
(ROI).
The Affordable Method - In the affordable method (often referred to as the “all you-can-
afford method”), the firm determines the amount to be spent in various areas such as
production and operations. Then it allocates what’s left to advertising and
promotion considering this to be the amount it can afford. The task to be performed by the
advertising/promotions function is not considered, and the likelihood of under-
or overspending is high, as no guidelines for measuring the effects of various budgets
are established.

40. Establishing the Promotional Budget
2. Top-Down Approaches
• Arbitrary Allocation - No theoretical basis is considered and the budgetary amount is often
set by fiat. That is, the budget is determined by management solely on the basis of what is felt
to be necessary. The arbitrary allocation approach has no obvious advantages. No systematic
thinking has occurred, no objectives have been budgeted for, and the concept and purpose of
advertising and promotion have been largely ignored.
• Percentage of Sales - The advertising and promotions budget is based on sales of the product.
Management determines the amount by either (1) taking a percentage of the sales dollars or
(2) assigning a fixed amount of the unit product cost to promotion and multiplying this amount
by the number of units sold. A variation on the percentage-of-sales method uses a percentage
of projected future sales as a base. This method also uses either a straight percentage of
projected sales or a unit cost projection. In the straight-percentage method, sales are
projected for the coming year based on the marketing manager’s estimates. The budget is a
percentage of these sales, often an industry standard percentage. The percentage-of-sales
method is simple, straightforward, and easy to implement.

41. Establishing the Promotional Budget
2. Top-Down Approaches
• At the same time, the percentage-of-sales method has some serious disadvantages, including
the basic premise on which the budget is established: sales. Another problem is that this
method does not allow for changes in strategy either internally or from competitors. An
aggressive firm may wish to allocate more monies to the advertising and promotions budget, a
strategy that is not possible with a percentage-of-sales method unless the manager is willing to
deviate from industry standards. The percentage-of-sales method of budgeting may result in
severe misappropriation of funds. The percentage-of-sales method is also difficult to employ
for new product introduction. Finally, if the budget is contingent on sales, decreases in sales
will lead to decreases in budgets when they most need to be increased.

42. Establishing the Promotional Budget
2. Top-Down Approaches
• Competitive Parity - In the competitive parity method, managers establish budget amounts
by matching the competition’s percentage-of-sales expenditures. The argument is that
setting budgets in this fashion takes advantage of the collective wisdom of the industry. It
also takes the competition into consideration, which leads to stability in the marketplace
by minimizing marketing warfare. The competitive parity method has a number of
disadvantages, however. For one, it ignores the fact that advertising and promotions are
designed to accomplish specific objectives by addressing certain problems and opportunities.
Second, it assumes that because firms have similar expenditures, their programs will be
equally effective. This assumption ignores the contributions of creative executions and/or
media allocations, as well as the success or failure of various promotions. Further, it ignores
possible advantages of the firm itself; some companies simply make better products than
others. Also, there is no guarantee that competitors will continue to pursue their
existing strategies.

43. Establishing the Promotional Budget
2. Top-Down Approaches
• Competitive Parity - Since competitive parity figures are determined by examination of
competitors’ previous years’ promotional expenditures (short of corporate espionage),
changes in market emphasis and/or spending may not be recognized until the competition
has already established an advantage. Further, there is no guarantee that a competitor will not
increase or decrease its own expenditures, regardless of what other companies do. Finally,
competitive parity may not avoid promotional wars. Coke versus Pepsi and Anheuser-Busch
versus Miller have been notorious for their spending wars, each responding to the other’s
increased outlays.
• Return on Investment (ROI) - In the ROI budgeting method, advertising and promotions are
considered investments, like plant and equipment. Thus, the budgetary appropriation
(investment) leads to certain returns. While the ROI method looks good on paper, the reality is
that it is rarely possible to assess the returns provided by the promotional effort—at least as
long as sales continue to be the basis for evaluation.

44. Establishing the Promotional Budget
3. Bottom-up approaches
The major flaw associated with the top-down methods is that these judgmental approaches
lead to predetermined budget appropriations often not linked to objectives and the strategies
designed to accomplish them. A more effective budgeting strategy would be to consider the
firm’s communications objectives and budget what is deemed necessary to attain these goals.
• Objective and Task Method -
• The objective and task method of budget setting uses a buildup approach consisting of three
steps:
(1) Defining the communications objectives to be accomplished
(2) Determining the specific strategies and tasks needed to attain them
(3) Estimating the costs associated with performance of these strategies and tasks. The total
budget is based on the accumulation of these costs.

45. Establishing the Promotional Budget
3. Bottom-up approaches
The process involves the following steps:
1. Isolate objectives.
2. Determine tasks required
3. Estimate required expenditures
4. Monitor
5. Reevaluate objectives: The major disadvantage of this method is the difficulty of
determining which tasks will be required and the costs associated with each. This
process is easier if there is past experience to use as a guide, with either the existing
product or a similar one in the same product category. But it is especially difficult for
new product introductions. As a result, budget setting using this method is not as easy to
perform or as stable as some of the methods discussed earlier. Given this disadvantage,
many marketing managers have stayed with those top-down approaches for setting the
total expenditure amount.

46. Establishing the Promotional Budget
3. Bottom-up approaches
• Payout Planning - To determine how much to spend, marketers often develop a payout plan
that determines the investment value of the advertising and promotion appropriation.
The basic idea is to project the revenues the product will generate, as well as the costs it will
incur, over two to three years. Based on an expected rate of return, the payout plan will assist
in determining how much advertising and promotions expenditure will be necessary when the
return might be expected.
• Quantitative Models - Attempts to apply quantitative models to budgeting have met with
limited success. For the most part, these methods employ computer simulation models
involving statistical techniques such as multiple regression analysis to determine the relative
contribution of the advertising budget to sales. Because of problems associated with these
methods, their acceptance has been limited

47. Establishing the Promotional Budget
“A statement of values (SOV) is a report that an insured submits to an insurer. It details the amount each property that will be
covered under a policy is worth. The insurer then bases the insured's premium on this report. To avoid underinsurance, the
statement of values must be accurate and comprehensive.

48. Monitoring the Effectiveness of Marketing Communication
One clear way to measure how successful your marketing communications have
been is through KPIs (Key Performance Indicators). KPIs provide a clear
measurement of performance, allowing an evaluation of the effectiveness of the
strategy. For example, measuring market share, profit and revenue or percentage
growth.
Marketing effectiveness is measured by the short-term and long-term revenue
generated by a campaign and by how well the company's costs of customer
acquisition are lowered during that campaign. A good customer data platform can
contribute to your marketing effectiveness.

49. Monitoring the Effectiveness of Marketing Communication
How to monitor marketing effectiveness?
To effectively measure the marketing performance one needs to track: Revenue and
sales. Lead generation. Customer retention.
Engagement
1. Social engagements; numbers of likes, comments etc.
2. Website engagement; the number of page views, time on page etc.
3. Email engagement; open rate, click-through rate etc.