Introduction to Marketing Metrics and ROI

Overview

This workshop is intended to provide an overview of how marketing metrics can be used to measure marketing performance as well as the likely key metrics which should be utilised to assess the efficiency and effectiveness of your marketing efforts. It will also demystify the ubiquitous concept of ROI (Return on Investment) as well as give you a widely used basic formula (with sample calculations and associated spreadsheet).

Benefits to you and your organisation

You should return to work with much greater confidence – and a toolkit – to help you better allocate and manage scarce marketing resources. This new quantitative approach should also result in marketing being perceived as fundamental and driving rather than and superficial and ‘fluffy'!

Your organisation will benefit from your better understanding of your value proposition, the key drivers (and hence likely metrics) and how the various marketing tools and techniques contribute to value delivery. Using focused measurement, delegates will be able to establish the link between effort expended and rewards won (ROI).

Who this course is for

This workshop is designed for people and organisations that understand the critical importance of measuring and evaluating their marketing activities and expenditure. The content is broad in coverage and therefore whilst it covers all of the key aspects, it does so in ‘fundamentals’ as opposed to ‘in depth’ manner.

What you will learn

• Set ‘SMART’ marketing driving objectives.
• Design a basic marketing performance measurement system.
• Avoid common design, implementation and management pitfalls.
• Utilise common performance measurement frameworks (‘Balanced Scorecard’, ‘ServQual’...).
• Develop internally consistent metrics (linked to SMART objectives) using a ‘Metric Definition’ template.
• Calculate the ROI at strategic (client/customer/consumer) and tactical (mix) level.
• Measure the efficiency and the effectiveness of strategic and tactical marketing activities.
• Develop marketing plans with emphasis on good implementation, evaluation and feedback.
• Design and deliver appropriate and targeted marketing activity reports and indicators.
• Ensure that marketing is seen as focused, accountable and adding value.

Course content

• What are metrics and why is there so much interest in both metrics and ROMI at the moment?
• Designing a marketing performance measurement system – best practice and pitfalls to avoid.
• Calculating ROI – basic formula(e)
  Generating and measuring shareholder, stakeholder and brand value.
• Assessing product and service quality (customer satisfaction and ‘ServQual’).
• Evaluating the performance of both your strategic and tactical marketing activities.
• Maximising the efficiency and effectiveness of marketing expenditure – getting 'the biggest bang for your buck'.
• The use of information technology in both marketing and measurement, including basic maths/statistics and the role of 'econometric modelling'

Learning approach

A mixture of slides, exercises/mini workshops and discussion, with the emphasis on application!