Marketing Metrics
Measuring and controlling the performance of the marketing strategy for maximum return on investment.
Level 1 Introductory: Demonstrates introductory understanding and ability and, with guidance, applies the competency in a few, simple situations. Can direct people to the appropriate source for further information.
BEHAVIORS
- Demonstrates awareness of marketing measurement and control concepts and principles.
- Recognizes measurement and control data that are related to marketing.
- Uses technology to extract, run queries and report on data requests.
- Collects data from organizational control systems as they relate to marketing (e.g. feed-forward, concurrent and feedback controls).
- Follows prescribed methods to produce thorough and accurate reports that summarize findings based on measurement information.
QUESTIONS
- Describe a situation when you followed prescribed methodologies to produce thorough and accurate summary reports of measurement information.
Probing Questions
* What was the situation?
* What was your role in the reporting process?
* What aspects of the process were guided by prescribed or standardized methods and formats?
* What were the reactions of the stakeholders to the report(s)?
- Please tell us about a time when you collected data to support the evaluation of the marketing strategy.
Probing Questions
* What was the marketing strategy?
* What did you do?
* How did you determine what information to collect?
* How was it collected?
* How was the information used by the organization?
* What was the result?
Level 2 Basic: Demonstrates basic knowledge and ability and, with guidance, can apply the competency in common situations that present limited difficulties.
BEHAVIORS
- Demonstrates an understanding of basic marketing measurement and control principles (e.g. use of metrics to measure progress against objectives).
- Collects measurement data to inform the evaluation of the marketing strategy (e.g. rates of penetration, adoption, customer feedback, reach, etc).
- Produces reports summarizing results of data analyses to support the evaluation of the marketing strategy.
QUESTIONS
- Tells us about a time when you collected data to inform the evaluation of the marketing strategy.
Probing Questions
* What was the situation?
* What were your role and responsibilities?
* How did you determine what information to collect?
* How was it collected?
* How was the information used by the organization?
- Please describe a situation where you had to use different sources to create a market report.
Probing Questions
What was the situation?
* What did you do?
* How did you determine which sources to use?
* What methodologies did you use to extract the data?
* What was the result?
- Describe a situation where you had to analyze data included in a market report.
Probing Questions
* What data did you analyze?
* What methodologies did you use?
* How was the analysis used?
* What was the result of your efforts?
Level 3 Intermediate: Demonstrates solid knowledge and ability, and can apply the competency, with minimal or no guidance, in the full range of typical situations. Would require guidance to handle novel or more complex situations.
BEHAVIORS
- Analyzes measurement data to inform the evaluation of the marketing strategy.
- Interprets outputs from organizational control systems to inform the monitoring of the marketing strategy.
- Uses a variety of metrics and methodologies to measure the progress of marketing activities against objectives.
- Participates in the review of marketing activities using established measurement criteria.
- Develops metrics and Key Performance Indicators to assist in the evaluation of marketing activities.
QUESTIONS
- Tell us about a time when you used a variety of metrics and methodologies to measure the progress of marketing activities against organizational objectives.
Probing Questions
* What were the marketing activities being measured?
* What did you do?
* What metrics and methodologies were used to measure the progress of marketing activities?
* What key information was identified by the measurement tools?
* How was this information used by the organization?
- Describe a situation when you used outputs from organizational control systems to inform and support the monitoring of the organizational marketing strategy.
Probing Questions
* What was the situation?
* What did you do?
* What organizational control systems were utilized?
* How did you use and interpret the information from organizational control systems?
* What was the impact of the information gleaned from organizational control systems?
Level 4 Advanced: Demonstrates advanced knowledge and ability and can apply the competency in new or complex situations. Guides other professionals.
BEHAVIORS
- Uses findings from the evaluation of marketing activities to identify improvements and make recommendations to the marketing strategy.
- Uses appropriate financial tools to evaluate the impact of marketing initiatives on an organization’s performance, e.g. budgets, ROI, profit-loss, brand value, etc.
- Uses appropriate financial tools to evaluate the impact of marketing initiatives e.g. budgets, ROI, profit-loss, brand value, etc.
- Measures the effectiveness of marketing, advertising, and communications programs and strategies.
- Coaches others in marketing evaluation concepts, principles techniques and methods.
- Uses relevant techniques such as forecasting to detect potential opportunities or threats to the product/organization to inform marketing strategy.
QUESTIONS
- Tell us about a time when you coached others in marketing evaluation concepts, principles and their application.
Probing Questions
* What was the situation?
* Who were the people being coached?
* What were the key interventions that you made?
* What were the outcomes of those interventions?
- Describe a situation when you used appropriate financial tools (e.g. budgets, ROI) to evaluate the impact of marketing initiatives.
Probing Questions
* What financial tools were used?
* What was your role in the process?
* What key information was acquired through the use of these tools?
* How did this information impact marketing initiatives?
- Tell us about a situation where you were responsible for the productivity and performance of marketing work teams.
Probing Questions
* What teams were involved and what were their areas of responsibility?
* How did you set team and individual objectives?
* How did you evaluate the individual and team objectives and what did you do when performance was not at acceptable levels?
* What were the contributions of each of these teams to the achievement of the organization’s results?
Level 5 Expert: Demonstrates expert knowledge and ability, and can apply the competency in the most complex situations. Develops new approaches, methods or policies in the area. Is recognized as an expert, internally and/or externally.
BEHAVIORS
- Determines changes to marketing activities based on a comparison of output from measurement and control systems and marketing strategy objectives.
- Establishes various control systems and processes such as sales forecasts, customer relations management systems, and supply chain management systems, to ensure an integrated approach to controlling marketing resources.
- Creates a system of critical review and evaluation to inform the marketing strategy.
- Measures the financial returns achieved on specific investments in marketing activities and compare them with the original business objectives.
- Establishes and promotes the use of performance measures to evaluate marketing activities and improve their effectiveness.
QUESTIONS
- Tell us about a time when you used relevant techniques to forecast potential threats to and opportunities for the organization and its product/services as part of the marketing strategy development or adjustment process.