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Continuing the series of blog posts on marketing performance measurement, today’s post is reviewing brand metrics. As a sub-process of marketing, branding refers to the development and maintenance of a brand. A brand is a „promise”, as it represents all that exists in the consumer’s mind with reference to a particular product.
It is acknowledged that performance activities have been a necessary part of the human life for as long as there have been organizations. Thus performance is a fact of life. The same is in sport, as performance is the most important goal to be achieved by each and every single “athlete” from this world no matter of the sport activity it is involved in.
When assessing the overall firm performance within the market it operates in, measurementfocuses on macro metrics, that capture data regarding the overall market, respectively firmposition within this market.
According to a study conducted in 2001 by Accenture, 68% of the marketing executives in U.S and U.K acknowledged the fact that their company was not able to measure the marketing campaign Return on Investment (ROI). Although still a major provocation for most of the companies, data-based marketing has swept recently through the business world.
Setting, monitoring targets and understanding the implications of their dynamics is not as simple as it might seem. In order to do this properly and with maximum benefits, it is important to ensure you have the following elements narrowed down:
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