How are we doing?
Measuring the output in terms of effectiveness.
Using technology to measure the effectiveness of ads, PR and events.
Operational metrics could measure sales per region or cost per customer.
Marketers must customize metrics since they are brand-specific.
There are different industries, different sales trends and different customer segments.
Measuring financial performance
Measuring customer satisfaction
Measuring public impact
Measuring new customers acquisition
Perform your own internal review
Interview your staff and customers
Predictive Analysis: Using statistics to examine and determine patterns in data. Involves big-data analysis.
Predictive analytics is the “Moneyball” approach to measuring marketing effectiveness.
Analytics help find patterns that brands can use to predict and understand customer behavior.
For example, predictive analytics can help to understand and predict customer behavior such as shopping habits and purchasing trends.
Data is the new gold!
Independent Indices: Quantifies how well a brand performs within a market, compared with its average performance among all markets.
Measures the relative strength of a brand within a specific market.
Quantifies the relative performance of a brand within specified customer groups.
Helps marketers identify strong and weak segments (usually demographic or geographic) for individual brands.