Marketing is deemed to be an essential activity by most businesses, at least to some extent. Bigger businesses have bigger marketing budgets, so can carry out more marketing activities – but are they necessarily effective? Often they’re not. This is why businesses need to track their marketing spend, to make sure that it is delivering results for them and they have something to show for their money.

Marketing spend can be tracked in many ways. If you are running ads, then you can track the results of these easily by looking at what you are spending and the traffic that these ads are generating. You can then see if this traffic converts.

It’s harder to see if marketing activities like raising brand awareness are effective. However, you should still try to track them wherever possible to try and understand your audience and how well your marketing campaigns and activities are working.