Marketing Metrics | Develop a Roadmap for Success

<p> </p> <p><a href='https://open.spotify.com/show/40VbLzYVsQgjYOXjtDqEeU'></a></p> <p> </p> <p>CHRONICLE: July  10th, 2023</p> PODCAST: Marketing Metrics | Develop a Roadmap to Success <p>We know that Marketing Metrics matter and are essential to defining brand ROI. They establish marketing discipline, decision-making, investment analysis, assessing the effectiveness of critical activities, and validating how business outcomes are achieved.</p> <p>It is how we determine, assess, and manage these metrics to build an effective marketing strategy that provides tangible brand equity benefits and a realized ROI.</p> <p>The first step in building your Roadmap is determining the most critical data points to construct an analysis of brand investment value.</p> <p>Metric Data Point Analysis</p> <ul><li>Do these metrics impact revenue (P/L) or the brand equity value/goodwill (balance sheet)?</li> <li>Do the metrics define the past (previous) or the future (lifetime value)?</li> <li>Are the metrics static (period demand generation) or dynamic (ongoing demand build)?</li> </ul> <p>The Roadmap to the Value of Defining Marketing Metrics:</p> <ol><li>Campaign Metrics | Effectiveness, ROI through click-through rates, and visits.</li> <li>Satisfaction Metrics | Customer satisfaction through NPS (net promoter score) or revenue.</li> <li>Brand Metrics | Brand affinity or brand equity valuation increase.</li> <li>Customer Acquisition/Attrition | Process to determine customer churn rate.</li> <li>Corporate Metrics | Enterprise value translation through corporate Culture, HR, or potential M&amp;A value.</li> </ol><p>You must initial the analysis with metrics that track marketing investment performance, such as promos. Then, determine and measure the outcome and compare it to the expectations, such as;</p> <ul><li>Click-Throughs?</li> <li>Customers Visits?</li> <li>Do the results justify the investment?</li> <li>How effective and efficient was the marketing strategy?</li> <li>Were you able to determine ROI?</li> </ul> <p>The most comm