For marketing, metrics should tie in some way to the ability to acquire, keep and grow the value of customers. For example, how well is marketing:
- Driving share of preference in order to positively affect consideration and consumption, to grow market share?
- Influencing share of wallet in order to positively affect customer lifetime value?
- Accelerating the adoption of a new product or service to impact market share?
To get started, make sure your marketing metrics:
- Help you understand why marketing did or did not achieve specific results
- Provide insight into appropriate action or adjustments
- Enable you to propose and test a hypothesis regarding ‘action-effect’
- Empower marketing to prove and communicate value, impact and contribution to business performance
Author: Laura Patterson
Source: Improve Marketing Performance: How to Choose the Metrics That Matter
Subject: Marketing Questions
Source: Improve Marketing Performance: How to Choose the Metrics That Matter
Subject: Marketing Questions
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