The Marketing Metrics Monitor™ recognises that for business executives to be successful today, they have to relentlessly focus on their core business. But to ensure success, both marketing insight and foresight are needed (normally obtained through marketing research), as well as a mechanism to monitor whether the goals and objectives set in the marketing plan are being achieved – through the measurement of marketing metrics.
But executives face two dilemmas: Firstly, what to measure? Secondly, the cost of continuous measurement could be high!
The Marketing Metrics Monitor™ solves both of these challenges. The marketing metrics literature and global business practice reveal that there are in excess of 150 metrics that can be used by a firm, which creates a major challenge – which metrics to use? The Marketing Metrics Monitor™ makes this process easy as it pre-selects the most important metrics that you need to measure based on the industry that your organisation is in, and your business model – based on the distribution, communication and service channels that you use. Reporting is also made simple and the emphasis is on using metrics to monitor and improve business results, not produce a plethora of fancy charts and graphs. And this is provided at an extremely affordable price compared to traditional marketing research.
But the real value of the Marketing Metrics Monitor™ also lies in its unique conceptual approach informed by the latest marketing thinking. At DIY Metrics™ we believe that marketing efforts should focus both on the long-term to build marketing assets (such as brands and relationships), where marketing spending is viewed as an investment which will generate future returns, as well as the short-term where the marketing assets are leveraged to produce cash flows (through for instance, sales and promotion). In this shorter-term context marketing is viewed as an expense. But to monitor the health of the organisation the performance of the marketing assets have to be carefully tracked as each marketing action can sustain value, increase value, or if badly done even destroy value!
Other services
Companies can subscribe to the Marketing Metrics Monitor™ through this website, but we also offer additional consulting services for firms wishing to customise the system to their needs or to develop metrics and measurements unique to their business.