Join Drew Boyd for an in-depth discussion in this video Measuring key performance indicators (KPIs), part of Marketing Fundamentals.
…Before you launch your marketing campaign you want to…set up key performance indicators, or KPIs for short.…Key performance indicators help you keep track of your overall strategy and…your individual marketing programs.…They alert you when it's time to intervene.…And take action to get things back on track.…Without KPIs, you're flying blind so…to speak, and you run the risk of falling short of your overall goal.…To be most effective, each KPI should be quantifiable and measurable.…
You can have as many as you want.…But don't measure a KPI just because you have the data.…If you're not going to use, don't bother.…It's a waste of time.…Measure something only if you plan to take action from it.…That's why we set thresholds around each one.…Each KPI should have a target of what you expect to happen.…Plus a high and low number around that target.…For those thresholds, you and your planning team should agree in…advance what action you'll take if those thresholds are exceeded.…
Here's an example.…Assume you create a KPI around the number of new customers acquired each month.…
You'll also learn to address tactical challenges and present the plan to get buy-in throughout an organization, from the C-suite to the sales team, as well as use the marketing plan to guide outside agencies and vendors. Finally, you'll learn how to launch the campaign and measure its performance.
- Marketing in an organization
- Assembling the team
- Creating the marketing plan
- Analyzing your products, customers, and market
- Segmenting customers
- Creating a value proposition
- Developing a strategy
- Setting goals
- Setting prices
- Using social media
- Presenting your plan to leadership
- Budgeting your plan
- Measuring success
Skill Level Beginner
Understanding Marketing's Role
Analyzing Your Business
Developing Your Strategy
Developing the Tactical Phase
Aligning the Organization
Launching and Measuring Your Plan
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