By: Paige Johnson

As we enter the second half of the year, it’s the perfect time to take a step back and conduct a thorough review of your marketing efforts and strategies. A mid-year marketing review is essential for assessing progress, identifying what’s working (and what’s not), and making informed adjustments to ensure optimal performance and results in the months ahead. 

Let’s explore just how valuable bi-annual marketing reviews can be, the top three metrics or points to review, and how to effectively plan for continued success.

The Importance of Bi-Annual Reviews

In the fast-paced landscape of marketing, flexibility and agility are key. Bi-annual marketing reviews allow us to stay responsive to changes in the market, consumer behavior, and industry trends. By regularly evaluating our strategies, we can pivot quickly and capitalize on new opportunities. Regular reviews also help us measure our progress against the goals set at the beginning of the year. Are we on track to meet them? If not, why? Understanding your current standing is crucial for setting realistic expectations for the remainder of the year.

Key Considerations

Performance Metrics: Key performance indicators (KPIs) are a crucial indicator of a business’s marketing success and efficiency. By reading into the story that your KPIs are telling you, you can identify trends and anomalies that help you understand the broader picture of your marketing efforts. Consider metrics such as website traffic, conversion rates, social media engagement, email open rates, and return on investment (ROI). You should measure these metrics against industry averages or benchmarks and outcomes from previous periods to really understand what they are telling you.

Competitor Analysis: Analyzing competitor activity regularly is essential. However, the six-month mark is a great opportunity to examine their efforts in greater depth and at a larger scale. What are competitors doing differently and how is it working? Have they launched new products or campaigns? Have new competitors entered the market? Understanding the competitive landscape can reveal opportunities for differentiation and innovation. Keep in mind that competitor activity is not meant to be replicated; rather, it is an indicator of what is working in a particular industry. 

Campaign Effectiveness: Post-campaign evaluations and case studies are extremely valuable sources of information and help us understand the success of individual campaigns – immediately after they’ve completed and during a mid-year review. We look at which campaigns have delivered the best results or any key factors that contributed to their success. You should consider the timing, messaging, channels used, and audience targeting. Then, we use this information to inform creative strategy in future campaigns.

Planning to End 2024 with Success

It is important to gather all these insights and collect real data, but more importantly, to develop a strategic response to this new information. At PTE, we are passionate about testing, measuring, and refining our marketing strategies. This is especially true in the event of these scaled reviews that tell such an important story of our efforts. Don’t be afraid to adjust your goals and double down on what’s working and rework or discard what’s not. You may consider reallocating your resources to invest more time or money into high-performing areas and cut back on underperforming ones. Ensure that you have the right tools and team members in place to execute your strategies effectively.

Embrace the Opportunity!

A mid-year marketing assessment is invaluable for marketers to stay competitive and achieve their goals. At PTE, we believe in experimenting with new approaches to stay ahead of the curve; continuous improvement is key to maintaining momentum. We embrace this opportunity to reflect, learn, and plan for continued growth and success in the future of our marketing efforts. If we can help you, don’t hesitate to reach out.