|What are the specific goals for the marketing spending and how is that connected to incremental revenue and/or margins? |
|What would be the short- and long-term impacts on revenue and margins if 20% more/less was spent on marketing overall in the next 12 months? |
|Compared to relevant benchmarks (historical, competitive, and marketplace), how effective is the ability to transform marketing investments into profit growth? |
|What are appropriate targets for improving marketing leverage over the next horizon, and what key initiatives will be most effective to get there? |
|What are the priority questions to be answered with respect to current knowledge of the payback on marketing investments? How are the knowledge gaps to be closed?|
|Identifying the Right Measures|
Marketers need to measure new opportunities and the investment needed to realize them. They must quantify the value of products, customers, and distribution channels––all under various pricing and promotional scenarios.
Under these circumstances, no single metric is perfect, and thus, marketers use a "dashboard" of metrics. Metrics can help a firm maintain a productive focus on customers and markets, and help managers identify the strengths and weaknesses in both strategies and execution.
The Metrics have tremendous power in two ways.
Identifying “What to Measure” is the half the battle won.
This is the Meritus advantage - we help you recognize what key factors drive your business, and identify KPIs and Marketing Metrics. We have the proficiency and expertise at building the dashboards to monitor the KPIs and help in the measurement of impacts of the same.