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. Demonstrate to GGI that your strategy and techniques had positive, tangible results, that will likely have their business for the long term.
This following article contains success stories of companies using marketing metrics to measure marketing results.
Marketing Metrics: Where to get them? Which ones work?
-List the major recommendations in your team's marketing plan.
-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.
-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.
A marketing plan includes "everything from understanding your target market and your competitive position in that market, to how you intend to reach that market (your tactics) and differentiate yourself from your competition in order to make a sale."
Reasons of preparing Marketing Plan are:
1) To communicate to the key stakeholders.
2) To accomplish the objectives of the organization.
Marketing plan includes the following:
1) Market Research: First step is to lay down clearly the objectives of the consumer research process and then an action plan. One should collect data ...