How to choose marketing metrics for a successful marketing plan?

You got your product ready and now want to reach your target audience. To do that a solid marketing plan is must.

Business Metrics

How to build solid plan? You need analysis, strategy, marketing mix and metrix setup perfectly to define your objectives underlined in your strategy. Out of all 4 requirements for successful marketing plan, the most important one is your strategy which define your obejectives and last one metrics which define how you measure success of your objective

Key metrics to track:

  • Financial metrics
    • Sales and Profit
    • SQL
    • Revenue
    • Net profit
    • Total opportunity Won
    • Market share
    • Billed revenue
    • Received revenue
    • Total checkout
  • Non- financial metrics
    • Internet Marketing Metrics
      • Unique website visitors
      • Recurring visitors
      • New visitors
      • Bounce rate
      • CTR
      • Funnels
    • Email marketing metrics
      • Number of impressions
      • Email opened
      • Email clicks
      • CTR
    • Offline Advertisement
      • Number of inbound enquiries
  • Strategic metrics
    • Brand awareness
    • Brand perception
    • Buying intention from brand
    • Target market positioning
  • Customer metrics
    • Customer attraction or new customer s added
    • Customer retention or churn
    • Customer product usage
    • Net promoter score

You may not include all metrics in your marketing plan but need to include them as per your objective.

Most important factor which is not spoken yet is marketing budget which will impact our entire marketing plan. We need to figure out all important objectives in qualitative term and map metrics as quantitative term and to get this metrics ready, get estimated budget which will be required in our marketing plan.

This was quick summary for all those who want to kick start on promoting their products and get real sales and revenue streams.

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