MKT 574 Wk 6 - Practice: Evaluating Performance Using Marketing Metrics Case Study

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MKT 574 Wk 6 - Practice: Evaluating Performance Using Marketing Metrics Case Study

Outline:

1. Introduction
2. Sample Case
3. Practice Case 

One aspect of the overall marketing plan that is frequently overlooked or minimized is the evaluation. Without that piece it is difficult to determine how successful the campaign has been. Knowing the return on investment (R.O.I.) on a campaign helps businesses make more fiscally informed decisions on where to put their marketing efforts.

Why This Matters: When companies spend money on marketing campaigns, it may be viewed as non-essential funds—or even sometimes frivolous spending. Setting up performance metrics allows the marketing team to monitor and evaluate the outcomes of the marketing plan. It’s also important to be able to measure what’s really happening with the marketing plan to know when/if to make modifications as well as determine future spending in each of the measured areas. With budgets becoming increasingly tight, it is imperative to use metrics that demonstrate the benefits, or return on the investments of marketing dollars.