Marketing Skills: Metrics: Introduction

Course Overview

Marketers are continually in the spotlight and under pressure. Big questions such as 'what exactly do we get in return for our substantial expenditure on marketing?' are being asked.

This one day workshop is designed to help marketers begin to answer such questions by giving a process, some metrics, tools and techniques to measure marketing performance and, where appropriate, determine the return on marketing investment (ROMI).

Audience

This workshop is designed for people and organisations that understand the critical importance of measuring and evaluating their marketing activities and expenditure. This will ensure that you are doing the best you can with the resources you've got.

The content is broad in coverage (including both strategic and tactical elements of the process and marketing). If your need is to develop tactical marketing metrics, such as marketing communications efficiency and effectiveness, you may need to register for our one day workshop 'Marketing Metrics - The Marketing Mix' or the residential course 'Marketing Metrics - Measuring Marketing Performance'.

Skills Gained

You will gain a better understanding of your value proposition and drivers and how the various marketing tools and techniques contribute to value delivery. Using focused measurement you will be able to appreciate the effort expended and rewards won. This will lead to a better ROMI and more confidence when allocating resources to the marketing function (in particular, annual budget).

You will understand the critical importance of measuring marketing performance, as well as critically assessing the efficiency and effectiveness of both your strategic and your tactical marketing activities. Learning from others' successes and failures, with reference to best and worst practice, you should be able to improve the ROMI. This will also help you to communicate more appropriately and effectively with your senior managers and directors.

You will leave the course with a series of tools, templates, checklists, exercises and techniques that will give you a good start in developing a 'state of the art' marketing performance measurement system.

Course Outline

• Set 'SMART' marketing driving objectives
• Design a marketing performance measurement system
• Avoid common design, implementation and management pitfalls
• Utilise common performance measurement frameworks (Balanced Scorecard, quality measurement processes, etc.)
• Develop internally consistent metrics (linked to 'SMART' objectives) using a 'Metric Definition' template
• Calculate the ROMI at strategic (customer) and tactical (mix) level
• Develop marketing plans with the emphasis on good implementation, evaluation and feedback
• Measure both the efficiency and the effectiveness of strategic and tactical marketing activities
• Design and deliver appropriate and targeted marketing activity reports and indicators
• Ensure that marketing is seen as focused, accountable and adding value