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1

Metrics

a measuring system that quantifies a trend, dynamic or characteristic.

2

Metrics used for

- It’s a system not simply a number – it carries assumptions about the nature of the phenomena, mode of data collection, and even use
- Can be a KPI (Key Performance Indicator) or a diagnostic
- Can be over time or point in time
- Can be leading indicator (antecedent of future consequences)/ lagging indicator (consequence of past causes)
- Stable metric: Getting the same solution using different metrics shows a better proof for your outcome. Other metrics can complement. Don’t base decisions on one metric outcome.

3

Metrics are complex and at times difficult to measure

Data maybe approximate, incomplete or unavailable
Operationalising constructs

4

No single metric is likely to be perfect/complete

- Portfolio or dashboard of metrics is recommended for reliability, validity
- Understand various perspectives to arrive at triangulated strategies and solutions

5

Value of information

- More data or calculations don’t always help make better decisions - sometimes more data can make people more confused
- Information is only valuable if it allows us to make a better decision
- A metric value arises from its ability to improve our decisions.

6

Why metrics

- Economic slowdown, cost consciousness, short-term orientation – more proof needed about the immediate return on marketing investments.
- Technological change: more data, in some areas better data.
- Information age – moving away from intuitive decision making to data-driven management.
- Mass media fragmentation – trust shaken in traditional marketing communication effectiveness.

7

How to use metrics properly?

-Within their strategic context
- As related to objectives
- Not as end goals, but as sources of inspiration for decision making
- Weighted by their importance
- Acknowledging the primacy of creativity & insight

8

Insight

- An insight is usually not obvious nor evident;
- An insight usually comes from connecting multiple findings;
- An insight often requires a leap of interpretation;
- An insight requires thinking.

9

Professionalisation theory

not based on one outcome, but multiple. A theory in the sociology of occupations. There are special occupations in society – the professions. To reach this level, many things distinguishes them from mundane occupations (ethics code, associations, state licensing). Because of this knowledge, even occupations with a traditional small knowledge base embark on a historical quest to acquire it.

10

Metrics in the strategic planning process

- Certain metrics inform the situation analysis and thus play an important part in defining problems/opportunities
- Setting objectives is closely linked how we measure whether we achieved them with our strategies and they play a role in setting budgets
- There are metrics that are implementation focused (whether the implementation was right)
- Post-activity evaluation is where metrics play a main role