What are marketing metrics?

A company want to well operate their business can use marketing metric to measure the influence of their business. Marketing metric can be characterized as a “framework that evaluates a pattern, dynamic or trademark. It can analyze causes and venture future occasions (Farris 2010:1). The marketing metric has turned into an estimation framework, whether in both business and examination, marketing metrics incorporate characterizing goals, measuring the level of consummation and giving the criticism on procedures subject to change. In addition, marketing metrics are considered as a standard of estimation and they are utilized as a relating benchmark (Milichovsky & Simberova, 2015).

Marketing metrics include six measurement method, financial metrics, behavioral metrics, memory metrics, physical availability metrics, marketing activity metrics, and customer profile metrics.

  1. Financial metrics:

In any business campaign, there is a definitive point to produce beneficial deals. Shareholders, steward and advertisers anticipate that organization will amplify benefits to have most elevated profit for their speculations. For this organization use financial metrics to quantify deals incomes, minimize overhead costs, expanding gross edges and overseeing ventures to suitable hazard and expected returns (Lenskold, 2003).

Figure 1

 mmf2

HTC, is a smartphone company, according to the measurement (figure 1) can find out that during 2014 to 2015, revenue and operate profit have a slight change. In 2014 Q4 (NT$47.9 billion) the revenue was high but in 2015 Q2 decreased to NT$33.0 billion. In 2014 Q4 to 2015 Q2 the gross margin also decline to 19.3%. Therefore, through the measurement results HTC can make adjustments to their marketing plan, and apply financial metrics to increase company profit.

  1. Behavioral metrics

Behavioral metrics consist of sale, market share, market penetration, purchase frequency, share of category requirements, solely loyal customers, defection rate, and customer complaints and recommendations. In the other word, it have to consider how many unit did company sell? How much market share does company hold? How often do clients purchase? (Sharp, 2013).

  1. Memory metrics

Memory metrics portray data that buyers have in their recollections in connection to a product or a brand. In addition, this measurement include brand awareness, brand image associations, mental availability, attitude, customer satisfaction and service quality, and Intention to buy a brand in the future (Sharp, 2013).

There is an example for behavior metric and memory metric:

Nowadays smartphones are popular all around the world, and is an important communication tools for people to use. Following will shows that which brand and type of phone for clients are willing to buy.

Figure 2

 mmb1

Figure3

mmb2

Resource for figure 2 & 3: Zach, 2016

According to figure 2 & 3 can find out that in 2015 and 2016 Q1 Samsung’s market share is the highest, which means for clients Samsung is the most popular brand in the market. The second place is Apple. In addition, the result from the figure 3 points out android system is more popular then ios system. Therefore, it can clearly show that Samsung is the top brand in smart phone.

Apple vs. Samsung: A Battle Bigger Than Your Phone

This video is compare between Samsung and Apple, and also have an investigation point out that Samsung is the most popular brand for clients.

  1. Physical availability metrics

Physical availability implies making a brand as simple to notice and purchase as would be prudent, for as many clients as possible. It incorporates more than retail infiltration and incorporates hours of accessibility, and simplicity of encouraging the buy. Following physical availability metric include: Number of distribution points, Hours of opening, and Geographical coverage of distribution points, Geographical coverage of delivery points, Number of display points in store, and Number of shelves devoted to the brand(Sharp, 2013).

Following is an example for Physical availability metrics. Woolworths is one of the big supermarket in Australia. It not only have physical shop provide clients to go shopping. It also provide on-line shop for clients can shop everywhere and it also will deliver to house for you. Therefore, Woolwealth give client easy shopping.

Woolworths Shop Online

 

  1. Marketing activity metrics

Marketing activity metrics is essential to quantify what advertising exercises the association is really doing. Fundamental for the association to monitor its promoting venture (Sharp, 2013).

  1. Customer profile metrics

Customer profile metrics is for advertisers recognize and achieve the greater part of the distinctive purchasers in a brand’s classification. The measurements incorporate client’s sexual orientation, age or income. What’s more, advertisers need to comprehend who their distinctive purchasers are; the place they live; what media they expend; how, when and where they shop.

Following is an example about customer profile metrics, it use marketing dashboard to identify where smartphone clients are.

Figure 4 mmc

Resource: mobile marketer, 2014

Reference list

Farris, P 2010, Marketing metrics : the definitive guide to measuring marketing performance, Upper Saddle River, N.J. : FT Press, c2010.

Lenskold, J. (2003). Marketing ROI. New York: McGraw-Hill., retrieved 24 September 2016.

Milichovsky, F, & Simberova, I 2015, ‘Marketing Effectiveness: Metrics for Effective Strategic Marketing’, Engineering Economics, vol. 26, no. 2, pp. 211-219., retrieved 24 September 2016.

Sharp, B. (2013), Marketing: Theory, Evidence, and Practice. Oxford University Press, Melbourne, Australia.

Figure:

  1. Chilin C. & Edward W. 2015, “HTC CORPORATION 2Q15 BUSINESS REVIEW”, HTC 2015 investor
  2. Zach E., 2016, Whatever you do, don’t buy these smartphones
  3. Mobile marketer, 2014, U.S. Smartphone Ownership Reaches 71.8 Percent Mobile Market Penetration

Video:

  1. Apple vs. Samsung: A Battle Bigger Than Your: Phonehttps://www.youtube.com/watch?v=cPE-0nV5g0M
  1. Woolworths Shop Online:  https://www.youtube.com/watch?v=w9rIi_lNCJw

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