Marketing Strategy Question

[LPark]

Hi,

What are some examples of the below please and how would you go about setting them?

- Growth Objectives & KPIs to measure commercial performance
- Growth Objectives & KPIs to measure brand activity performance

Thank you

 

[fisicx]

A google search gives me:

Use KPIs to assess business performance | nibusinessinfo.co.uk

How to select key performance indicators that are well-defined and quantifiable to measure your business performance.

www.nibusinessinfo.co.uk

10 Critical Brand Marketing KPIs You Should Be Measuring in 2020 - OpenView

When it comes to creating new marketing campaigns for your brand, data is king. Using a data-driven strategy ensures that you can not only create but even

openviewpartners.com

There are many more sites you can research to give a fuller picture.

 

[Mark T Jones]

This has a hint of college question about it

If I'm wrong, and it's to do with your business or your employer, then some more context will help get better response

If I'm right, then start by giving your own thoughts and ideas then others will pitch in

 

[marydee]

@Mark T Jones has it, i think. These are essay questions, aren't they?

Let's take your first one, 'Growth Objectives & KPIs to measure commercial performance'

So we decide what our objectives are. Let's say we want to sell 120 widgets by the end of year. That breaks down to 10 per month.

But we know we sell more widgets in summer, and fewer in winter. So we might rework our figures to focus on selling 5 widgets in Jan/Feb/Mar/Apr/Oct/Nov/Dec, and 17 in each of the warm months (May/Jun/Jul/Aug/Sep) assuming you're in the Northern Hemisphere.

That is your basic sales projection.

Now we allocate our marketing budget accordingly. How you do this will depend on your product. A high-end product (e.g. summer holiday) will need more push than a cheaper one. So here you might want to start your advertising in about Dec/Jan/Feb for the £££ product, and leave it later for the cheaper one.

So to come back to the original question (and assuming a high end product):

Your growth objective is 120 sales over a 12 month period.
Your KPI will be 15 sales by first quarter and with first round marketing and advertising signed off, running, and retargeted by end of First Quarter.

Does that make sense?

 

[MBE2017]

Congrats, your BA is in the post marydee.

 

[HFE Signs]

I'm just going to throw in the mix 'KPIs to measure commercial performance' could be a whole magnitude of things that can be measured to have an impact on profit. Don't just look at sales, also consider efficiency, waste reduction and other measurable processes that could generate a cost savings.

 

[The Byre]

These poor mites just seem to learn useless jargon that masks a lack of knowledge. As a result, they will never be able to run so much as a whelk stall. And they get conned out of £9k p.a. for that drivel.

I assume that our protagonist is hoping to graduate from the Wysuckie College for the Totally Dumb.

 

[marydee]

Congrats, your BA is in the post marydee.

What do you mean?

 

[MBE2017]

What do you mean?

You did the assignment lol.

 

[marydee]

You did the assignment lol.

Ahhhhh! ??

 

[AstEver]

- Growth Objectives & KPIs to measure commercial performance

For example market penetration as growth objective with market share, NOPAT(?), sales analysis, etc. as KPIs?