Question
| Explain the significance and importance of measurements when evaluating an athletic marketing campaign. Why is return on investment (ROI) viewed as the ultimate measure of performance? |
Answer
Athletics Marketing Campaigns
Sports marketing activities have been in existence for decades. In recent years, many athletic companies have released amazing marketing strategies for sports, and they are mostly in the form of advertisements (LumenLearning, 2017). These advertisements are inspirational and motivate more and more people to participate in sports. However, a good marketing strategy needs measurements to estimate not only the level of success but also the number of resources that should be invested (Schäferhoff, 2017). The paper discusses the importance of measurements when evaluating a sports marketing campaign and the reasons as to why return on investment is the best measurement tool for performance.
Measurements are critical when it comes to evaluating the progress of any project. They play a significant role in determining how successful sports marketing campaigns will be. All sports companies have annual goals and objectives; for them to achieve these goals, the companies need to set a standard marketing performance metrics that will help evaluate to which extent the sports are marketing campaigns effectively (Cleverism, 2016; Fidelman, 2015). The metrics help in determining the areas that need more attention and the areas that need the marketing strategy to be modified.
Return on investment is one of the best performance measures that are used to evaluate how efficient an investment is compared to others (Staff, 2017). In sports marketing campaigns, resources are invested to promote the different brands of products that sports companies come up with (Referralcandy, 2016). It is advisable to use the ROI as a measurement to determine how beneficial a marketing campaign is in terms of profitability. This metric is very popular because it is simple and versatile. It is easy to calculate the total investment returns of a particular investment and compare it to the returns of another.
In conclusion, sport marketing campaigns fetch immense investment returns globally. Nevertheless, it is highly recommended that companies come up with the best method of evaluating the investment returns to avoid losses. It is also essential for the sports companies to realize the benefits of having measurements when evaluating the marketing campaigns.
References
LumenLearning. (2017).Evaluating Marketing Performance. Retrieved November 30, 2017, from https://courses.lumenlearning.com/boundless-marketing/chapter/evaluating-marketing-performance/
Fidelman, M. (2015, June 09). Here Are 5 Of The Best Sports Marketing Campaigns That Went Viral In 2015. Retrieved November 30, 2017, from https://www.forbes.com/sites/markfidelman/2015/06/09/here-are-5-of-the-best-sports-marketing-campaigns-that-went-viral-in-2015/#992cda7401d5
Cleverism. (2016). How To Measure The Effectiveness Of Marketing Campaigns. (2016, September 05). Retrieved November 30, 2017, from https://www.cleverism.com/how-to-measure-effectiveness-of-marketing-campaigns/
Schäferhoff, N. (2017, June 21). 9 Awesome Sports Marketing Examples to Emulate for Your Campaign. Retrieved November 30, 2017, from https://www.themeboy.com/blog/sports-marketing-examples/
Referralcandy. (2016). Sports Marketing Examples – 14 Of The Best Campaigns From The Fitness Industry. (2017, July 28). Retrieved November 30, 2017, from https://www.referralcandy.com/blog/sports-marketing-examples/
Staff, I. (2017, September 01). Return On Investment – ROI. Retrieved November 30, 2017, from https://www.investopedia.com/terms/r/returnoninvestment.asp