Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know
Marketing is frequently viewed with skepticism by non-marketing business executives and when times are tough is often one of the first budget cuts. For marketing executives, the challenge of providing concrete results is amplified due to the 'fuzzy' nature of branding and awareness. Marketing in the post-collapse economic era will become much more rigorous and data-driven, as marketing budgets are cut and each campaign has to prove its ROI. New research at the Kellogg School of Management on return on marketing investment (ROMI) shows how organizations can deliver significant performance gains from marketing. The Author's survey of 252 firms captures $53 billion of annual marketing spending and forms the foundation for this book. This research is complemented by experience teaching ROMI to executives at Microsoft, DuPont, Nisan, Philips, Sony and many other firms. The 15 Marketing Metrics: Brand Awareness; Test Drive; Chum; CSAT=Customer Satisfaction; Take Rate; Profit; NPV=Net Present Value; IRR= International Rate of Return; Payback; CLTV= Customer Lifetime Value; CPC= Cost Per Click; TCR= Transaction Conversion Rate; ROA= Return on Add Dollars Spent; Bounce Rate; and WOM= Word of Mouth Social Media.
