When is the best time to evaluate historical performance for future campaigns?

Evaluating historical performance before budget allocation is crucial for making informed decisions about future campaigns. By analyzing past campaign data, marketers can identify what strategies, channels, and creatives have been most effective in achieving the desired outcomes. This data-driven approach allows for more accurate forecasting of potential ROI and helps in allocating the budget to areas that are likely to yield the best results.

Understanding performance metrics such as conversion rates, customer engagement levels, and cost-per-acquisition from previous campaigns enables marketers to craft a budget that reflects the expected effectiveness of each channel. This strategic allocation can significantly enhance campaign performance rather than relying on arbitrary or untested assumptions.

By contrast, evaluating performance during execution would not provide the necessary insights for optimizing budget allocation at that stage. Assessing results after campaign completion is too late to influence current budget decisions, and reviewing historical performance at the vendor selection stage might not give a comprehensive view necessary for effective budget allocation. Thus, analyzing historical performance before budget allocation is the most effective timing for setting up successful future campaigns.