Week 11 Marketing Implementation
and Control
Marketing in a Global Age M003LON
Today’s Learning Objectives
Uncover crucial factors in measuring marketing effectiveness
Examine tools available to help companies monitor and improve their marketing
activities
Become familiar with marketing metrics and understand why they are needed
Objective 1
Planning Summary
What is an action plan?
Action steps should include the following information:
What actions or changes will occur
Who will carry out these changes
By when they will take place, and for how long
What resources (i.e., money, staff) are needed to carry out these
changes
Communication (who should know what?)
What is an action plan?
Definition of Marketing Control
Steps that an organization takes to ensure that its
marketing plans are successful.
Building Control into you Plan
All the metrics you measure at the end of
Situational Analysis the year will be used in next year’s
Objectives SITUATIONAL ANALYSIS when analysing
Strategy performance (results).
Tactics
Action
Control
Objective 2
Definition of Marketing Evaluation
Techniques used to analyse success in achieving
individual marketing objectives and to more broadly
assess the entire organisation’s marketing efforts
Implementing strategy means putting the plans into action
• Control is all about ensuring that a plan’s objectives are going to be achieved, and taking
action to correct any problems.
• To evaluate a marketing plan means to assess it, or to weigh up its positive and negative
outcomes
• It is essential to determine how successful a marketing strategy has been.
• Or else there is no way of knowing what worked and what did not, and no way of
improving in the future
MARKETING STRATEGY
Annual Annual
Annual Marketing Marketing
Marketing Planning Planning
Planning
Implementation Implementation
Control and Evaluation Control and Evaluation
Revision Revision
Measuring What Matters
Measurement and Control
• Schedules identifying the timing of marketing tasks
• Metrics to track results over time
• Forecasts of future sales and costs
Marketing Metrics for Digital and Social Media
• Metrics for digital and social media are still evolving.
• For some social media sites:
“likes”
“followers”
“retweets”
• Do not simply look at number of “clicks,” but, rather, viewing by specific segments
at specific times.
Is your Social Media under Control and Always Enhancing
your brand?
Hootsuite Hootsuite is one of the best
free social media listening
tools available and covers
multiple social networks,
including Twitter, Facebook,
LinkedIn, WordPress,
Foursquare and Google+. It is
well known for its social media
management functions.
Is your Social Media under Control and Always Enhancing your brand?
IceRocket This tool offers blog, Twitter and Facebook
monitoring in 20 languages, as well as results
graphs that you can play with. It allows you to
choose the period of time you are interested
in monitoring.
It can be used for keeping an eye on blog
activity mentioning your brand, as they have
around 200 million blogs in their database
and they also provide the possibility of finding
the latest trend terms related to your search.
Objective 3
Using Metrics
Metrics are most valuable to the marketer when viewed in the context of:
• Expected outcomes
• Historical results
• Competitive or industry outcomes
• Environmental influences
Main Categories of Marketing Metrics
Source: Paul W. Farris, Neil T. Bendle, Phillip E. Pfeifer, and David J. Reibstein, Marketing Metrics, 2nd edition (Upper Saddle River, NJ: FT Press, 2010), p. 5, fig
1.1.
Marketing metrics (A)
Marketing metrics focusing on operations
• Competitive and customer metrics
• Profitability metrics
• Product and portfolio metrics
• Customer profitability metrics
• Sales and channel metrics
• Pricing metrics
• Promotion metrics
• Advertising, media and web metrics
• Financial metrics
Example of Objectives and Metrics – These
are not SMART
Objective Metric
To acquire new customers. Measure number or percentage of new
customers acquired by month, quarter,
year.
To retain current customers. Measure number or percentage of
customers who continue purchasing
during a set period.
To increase market share. Measure dollar or unit sales divided by
total industry sales during a set period.
To accelerate product Measure the time needed to bring a new
product to market.
development
Sample Financial Metrics - These are not SMART
Objective Metric
To increase sales revenue Measure product sales in dollars per
week, month, quarter, or year.
by product.
To improve profitability. Measure gross or net margin for a set
period by product, line, channel,
marketing program, or customer.
To reach breakeven. Measure the number of weeks or
months until a product’s revenue
equals and begins to exceed costs.
Sample Societal Metrics - These are not SMART
Objective Metric
To make products more Measure the proportion of each
product’s parts that are
environmentally recyclable or have been
friendly. recycled during a set period.
To build awareness of a Measure awareness among the
target audience after the
social issue. program or a set period.
To conserve electricity Measure amount used by
month, quarter, year.
or fuel.
Sample Societal Metrics - These are not SMART
Objective Metric
To make products more Measure the proportion of each
product’s parts that are
environmentally recyclable or have been
friendly. recycled during a set period.
To build awareness of a Measure awareness among the
target audience after the
social issue. program or a set period.
To conserve electricity Measure amount used by
month, quarter, year.
or fuel.
Comprehensive Approach to Improving Implementation
Financial
Measures
BALANCED
Learning
and
SCORECARD Customer
Innovation MANAGEMENT Measures
Measures CONTROL
SYSTEM
Internal
Business
Process
Measures
Any questions?
