Marketing professionals must practice marketing control to ensure that everything is going according to plan in the development of the implemented strategies. When carrying out a new marketing plan it is always essential to control and measure everything.
Without the implementation of this important preventive and corrective technique, errors are very likely to occur. Therefore, this article addresses two important questions: What is marketing control? And what are its benefits?
Read on to learn the answer to both questions and ensure everything works correctly, helping you avoid costly mistakes.
Ensures everything goes as planned
Performing marketing control processes is essential to ensure that all aspects of a company are up and running to achieve the organization's objectives.
It is a way to measure the effectiveness of marketing personnel, obtain information for reviewing strategies and offer a coordination system between departments. Effective marketing control helps the marketing manager delegate authority and keep activities on track.
Allows failures to be detected in time
Effective control systems detect deviations in performance and suggest corrective measures in time. In addition to recording deviations, effective control systems will also suggest corrective measures, which must be implemented immediately.
The ultimate goal of marketing control is to check whether activities are giving the desired results. For this process, information on marketing performance is collected and compared with predetermined standards.
When marketing control is applied correctly, it improves the organization's utilization of resources, increasing the effectiveness of strategies. It also improves the efficiency of marketing planning, identifying areas for improvement and offering preventive measures.
Companies that do not implement marketing monitoring to detect failures could lose profits and sales. Therefore, business owners must manage, apply and analyze control processes so that their business runs smoothly. This helps them analyze performance and make corrections to the strategic marketing plan.
Addresses strategic control, annual plan and profitability
Monitoring, evaluation and control are essential aspects of any marketing plan. Typical marketing control involves establishing performance standards and measuring actual performance against them.
The marketing planning process can be thought of as a cycle that begins with clear objectives and ends with a feedback mechanism that will allow the organization to evaluate the plan and monitor its effectiveness.
Marketing control can be divided into three main types: strategic control, annual plan control and profitability control.
For example, in a company with a large number of products, marketing management can focus its resources on the 20% of the business that generates the 80% of the total turnover. This means that only management personnel can place purchase orders for these items, which have a large impact on cash flow and profitability.
In addition, management is more likely to concentrate its resources on intermediaries, who generate a greater proportion of the organization's turnover than customers. For this reason, it is vital to put marketing control into practice within companies.
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