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Marketing metrics

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Now that GGI has decided to implement your marketing plan, the management team wants to know how they can measure efforts listed in your marketing plan. Marketing metrics are usually used to determine effectiveness of marketing efforts. If you can demonstrate to GGI that your strategy and techniques had positive, tangible results, you will likely have their business for the long term.

This following article contains success stories of companies using marketing metrics to measure marketing results and may be useful to you:

Marketing Metrics: Where to get them? Which ones work?
(http://www.ad-mkt-review.com/public_html/docs/fs059.html)

List the major recommendations in your team's marketing plan.

1. Identify some key marketing metrics for your team's marketing plan and how each metric can be applied to a recommendation made in your marketing plan.
2. Provide recommendations for how GGI might improve upon that particular metric.
3. Describe which of the metrics should be considered most important to GGI at this stage and why.

Some marketing metrics concepts include but are not limited to: Advertising and Direct Mail response rates, CRM (Customer Relationship Management) activity, wallet share, market share, Return on Investment (ROI), and so on.

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Marketing metrics

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1. Identify some key marketing metrics for your team's marketing plan and how each metric can be applied to a recommendation made in your marketing plan.
2. Provide recommendations for how GGI might improve upon that particular metric.

1) Sales/ Revenue Growth Rate: The growth in sales/ revenues, actual is the best metric for evaluating the efficiency of the marketing plan. Sales or revenue growth clearly reflect the performance of the marketing department on a periodical basis. It shows how well the recommended marketing strategies is performing. A decline in sales or revenue or less than expected growth is a cause of concern that should be investigated by the marketing department.

GGI can improve upon the particular ...

Solution provided by:
Sheetal Jain, PGDM
Education
  • BComm, University of Delhi
  • Post Graduate Diploma in Management (Equivalent to MBA), All India Management Association
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