-ly: This creates an adverb, meaning "in an effective way." For example, "effectively."
-ness: This creates a noun, meaning "the state or quality of being effective." For example, "effectiveness."
Other suffixes are less common but still possible:
-ive: While "effective" already has this suffix, it can be used to create adjectives from nouns or verbs, like "directive" or "proactive."
-ly: Can also be added to "effective" to create a noun meaning "the person or thing that is effective," like "the effectives of the new policy."
Ultimately, the best suffix to use depends on the specific context and meaning you want to convey.