Marketing Metrics: Introduction

Course Overview

Marketers are increasingly in the spotlight and under pressure to answer questions such as how successful was that last event or email campaign? or what's the relationship between marketing activity and market performance? This workshop will help you begin to answer such questions.

This workshop is intended to provide an overview of how metrics can be used to measure marketing performance as well as the likely key metrics which should be used.

Audience

This workshop is designed for people and organisations that understand the critical importance of measuring and evaluating their marketing activities and expenditure and are keen to do something about it.

The content is broad in coverage and therefore whilst it covers all of the key aspects, it does so in 'fundamentals' as opposed to 'in depth' manner. If your specific need is to develop tactical marketing metrics such as marketing communications efficiency and effectiveness, you should attend our one day workshop 'Marketing Metrics - the Marketing Mix'.

Skills Gained

Benefits for your organisation:

Your organisation will benefit from your better understanding of your value proposition, the key drivers (and hence likely metrics) and how the various marketing tools and techniques contribute to value delivery. Using focused measurement, delegates will be able to establish the link between effort expended and rewards won.

Benefits for you as an individual:

You will understand the critical importance of measuring marketing performance, as well as assessing the efficiency and effectiveness of your activities. The insight gleaned should boost your confidence in allocating scarce marketing resources and in communicating more positively with your senior managers and directors.

You will learn how to:

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

Course Outline

• What are metrics and why is there so much interest in both metrics and ROMI at the moment?
• Designing a marketing performance measurement system - best practice and pitfalls to avoid
• Calculating ROI/ROMI - basic formula(e)
• Generating and measuring shareholder, stakeholder and brand value
• Assessing product and service quality (customer satisfaction and 'ServQual')
• Evaluating the performance of both your strategic and tactical marketing activities
• Maximising the efficiency and effectiveness of marketing expenditure - getting 'the biggest bang for your buck'
• The use of information technology in both marketing and measurement, including basic maths/statistics and the role of 'econometric modelling'

Pre and post learning support:

In preparation for a fruitful experience and in order to hit the ground running, delegates will receive some 'prep' along with their joining instructions. This will include a scene setting article as well as a self-completion metrics questionnaire. Post event, all delegates are given the facility to run their marketing plan/metrics past their Course Director with a view to enhancement and/or 'signing off'.

To take away from the course:

• Checklists, templates, tools and techniques you can utilise to develop and implement an effective marketing performance measurement system when you return to your organisations
• An Excel(R) spreadsheet enabling you to determine 'go/no go' on your defined marketing activity based on a specified 'target return'
• A free marketing metrics textbook