Marketing Metrics | Develop a Roadmap

<p>The Visionary Chronicles</p> <p>CHRONICLE: May 27th, 2022</p> <p>                       </p> <p>            “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself…”</p> <p>                                                                                                Wisdom from Peter Drucker</p> <p> </p> <p>THE VISIONARY CHRONICLES PODCAST</p> <p>Marketing Metrics | Developing a Roadmap</p> <p>We know that Marketing Metrics do matter and are an essential contribution 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> </p> <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 & A value.</li> </ol><p>You will need to initial the analysis with metrics that track marketing investment performance, such as promos. Then, determi