Lecture Marketing metrics: Chapter 1+2 - Trần Nhật Minh

9/18/2015<br /> <br /> • “If you can’t measure it, you can’t manage it”<br /> (Kaplan, Robert & David P. Norton, 1996)<br /> <br /> Objectives<br /> • Marketing: Art vs. science<br /> • Setting feasible marketing target<br /> • Quantify marketing performance<br /> • Evaluating marketing accomplishment<br /> • Comparing marketing effectiveness among<br /> competitors in the market.<br /> <br /> 1<br /> <br /> 9/18/2015<br /> <br /> Materials<br /> <br /> Contents<br /> • Chapter 1: Overview of marketing metrics<br /> • Chapter 2: Developing marketing metrics system<br /> • Chapter 3: Market & Sales forecast<br /> <br /> • Chapter 4: Non-financial metrics<br /> • Chapter 5: Financial metrics<br /> <br /> Overview of<br /> marketing metrics<br /> <br /> 2<br /> <br /> 9/18/2015<br /> <br /> Contents<br /> • What’s a metric.<br /> • The need of measuring marketing performance<br /> <br /> Marketer’s challenges<br /> • Empowered customers<br /> • Fractured media<br /> • Continuing growth<br /> <br /> • Extensive competition<br /> • Demand for effectiveness and accountability<br /> <br /> Metrics<br /> • A measure system that quantifies a trend, dynamic<br /> or characteristic.<br /> <br /> 3<br /> <br /> 9/18/2015<br /> <br /> Roles & functions<br /> • To assess past situations:<br /> ◦ Explain phenomena<br /> ◦ Diagnose causes<br /> ◦ Share findings<br /> <br /> • To forecast the future<br /> ◦ To project results of future events<br /> <br /> Benefits<br /> • Focus on the key performance criteria.<br /> • Better vision.<br /> • Better decisions.<br /> <br /> • Raising marketing’s role, influence and stature in<br /> the company.<br /> • Better buy in and support from other<br /> departments.<br /> • Better performance<br /> <br /> Limitation and difficulty<br /> • Availability of data<br /> ◦ Permission, privacy<br /> ◦ Ability to access<br /> <br /> • Sources of data<br /> ◦ Bias<br /> <br /> • Accuracy<br /> ◦ Methodology to collect data<br /> <br /> 4<br /> <br /> 9/18/2015<br /> <br /> Developing a marketing<br /> metrics system<br /> <br /> Contents<br /> • Data needed for developing marketing metrics<br /> system<br /> • Building process for measuring marketing activities<br /> <br /> Type of metrics<br /> • Activity-based metrics: track and assess marketing<br /> activities<br /> • Operations performance metrics: evaluate<br /> performance of marketing department<br /> • Outcome-based metrics: measure marketing<br /> efforts to defined objectives<br /> <br /> • Leading-indicator metrics: help company in<br /> making strategic decisions.<br /> <br /> 5<br /> <br />