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    CH 15 Slides

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    KhanHeena
    This document discusses the importance of marketing performance metrics for businesses. It describes common barriers to using metrics, such as perceived complexity, and recommends starting with high-impact metrics that are easy to measure and report. The document also explains the benefits of forward-looking metrics like customer satisfaction and backward-looking metrics like customer retention.

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    CH 15 Slides

    Uploaded by

    KhanHeena
    95 views15 pages
    This document discusses the importance of marketing performance metrics for businesses. It describes common barriers to using metrics, such as perceived complexity, and recommends starting with high-impact metrics that are easy to measure and report. The document also explains the benefits of forward-looking metrics like customer satisfaction and backward-looking metrics like customer retention.

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    This document discusses the importance of marketing performance metrics for businesses. It describes common barriers to using metrics, such as perceived complexity, and recommends starting with high-impact metrics that are easy to measure and report. The document also explains the benefits of forward-looking metrics like customer satisfaction and backward-looking metrics like customer retention.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    95 views15 pages

    CH 15 Slides

    Uploaded by

    KhanHeena
    This document discusses the importance of marketing performance metrics for businesses. It describes common barriers to using metrics, such as perceived complexity, and recommends starting with high-impact metrics that are easy to measure and report. The document also explains the benefits of forward-looking metrics like customer satisfaction and backward-looking metrics like customer retention.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 15

    Marketing Performance Metrics

    MBM6
    Chapter 15

    Chapter 15 Objectives
    Barriers to Getting Started
    Using Marketing Metrics
    Forward-Looking vs.
    Backward-Looking Metrics
    Successful Strategy
    Implementation
    Variance Analysis

    If you cant measure it, you cant manage it. from The
    Balanced Scorecard
    by Robert Kaplan and David Norton, Harvard Business School
    Press, 1996
    Copyright Roger J. Best, 2012

    Marketing Metrics Solutions

    MBM6
    Chapter 15

    Marketing Metrics Resources


    White Paper Getting Started Using Marketing Metrics
    Marketing Metrics Blogs - Advanced Application and Best Practices
    Available at www.marketingmetricssolutions.com
    Copyright Roger J. Best, 2012

    Marketing Performance Metrics

    MBM6
    Chapter 15

    Businesses are obsessed with financial results because they tell


    what has happened. But rarely do businesses fully understand all
    the reasons for their financial results.

    Marketing performance metrics measure the factors that are


    actually driving profits in the market.
    Copyright Roger J. Best, 2012

    Need for Marketing Performance Metrics

    MBM6
    Chapter 15

    Barriers to Getting Started Using Marketing Metrics


    They are too complex and too difficult to use.
    They do not solve my businesss problems.
    There are too many; I dont know where to start.
    I do not have the data nor the budget to gather the data.
    I do not have the time for this type of work.
    Copyright Roger J. Best, 2012

    Marketing Metrics Scorecard

    MBM6
    Chapter 15

    Marketing managers of a large chemical company decided


    to start with the three metrics that had the most
    meaning for the company and that would be easy to
    present to management as credible measurements.
    Copyright Roger J. Best, 2012

    Marketing Performance Scorecard

    Copyright Roger J. Best, 2012

    MBM6
    Chapter 15

    Customer Satisfaction Forward-Looking

    MBM6
    Chapter 15

    Businesses that effectively use measures of customer


    satisfaction have a forward-looking metric that enables them
    to take corrective action in time to avoid a negative impact
    on financial performance.
    Copyright Roger J. Best, 2012

    Customer Retention Backward-Looking

    MBM6
    Chapter 15

    The average customer lifetime value with an 80 percent


    customer retention increases to $490, five and a half times
    more with the same 20 percent market share.
    Copyright Roger J. Best, 2012

    Sales Impact of Successful Strategy

    MBM6
    Chapter 15

    What should have been done to avoid the lack of aligned


    execution that this business suffered in the implementation
    of their marketing strategy?
    Copyright Roger J. Best, 2012

    Successful Plan Implementation

    Copyright Roger J. Best, 2012

    MBM6
    Chapter 15

    Action Plan for Channel Strategy

    MBM6
    Chapter 15

    When individuals take ownership of particular aspects of


    the process, a business breaks the business-as-usual
    routine, creating an environment that fosters successful
    implementation of the plan.
    Copyright Roger J. Best, 2012

    Assessing Plan Implementation

    MBM6
    Chapter 15

    A good marketing plan with this level of implementation


    effort will enable a business to achieve its desired level of
    performance within the timeframe allotted.
    Copyright Roger J. Best, 2012

    Variance Analysis
    Why is Variance
    Analysis employed to
    measure
    performance?
    Compares actual with
    expected performance
    Isolates components of
    Marketing Performance

    15-13

    What components of
    marketing
    performance can
    Variance Analysis
    evaluate?

    Volume
    Marketing Expense
    Margin
    Demand
    Share
    Price
    Cost

    Variance Analysis

    Marketing
    MBM6
    Performance
    Tools 15.1-15.3
    Chapter
    15

    The actual NMC at the end of year 1 was $86,800 less than
    estimated in the plan. What was the primary cause of this
    shortfall in performance?
    Copyright Roger J. Best, 2012

    Variance Analysis

    Marketing
    MBM6
    Performance
    Tools 15.1-15.3
    Chapter
    15

    A business that does not track marketing performance metrics will


    usually discover too late that its marketing plan is not working.
    What does the analysis above reveal?
    Copyright Roger J. Best, 2012

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