Tracking of Marketing Campaigns ultimately lead to a handful of numeric measurements.
These are a marketers KPIs (Key Performance Indicators).
These few numbers provide an overall at-a-glance view of the effectiveness, growth, and 'health' of your marketing campaigns.
The Aggressive Marketer seeks to have under-the-thumb control of those KPIs through a series of Tracking Reports that track and measure the progress of each and every marketing campaign, source of revenue, and influence on the bottom line that exists for the business.
Your KPI's must be measured with vigor to validate any and all marketing campaigns you run.
One of the most important types of KPI is LTV = Life Time Value, such as the LTCV (life time customer value).
LTCV: What is the long-term average dollar value of my customer?
Most marketers do not know their LTCV. It's one of the holy grails of marketing numbers.
Another good KPI is 'new customer acquisitions' per time scale, say per month. I.e. How many new customers did you get last month?
To calculate KPIs you will need Tracking Reports (spread sheets that contain marketing data).
First, start off with constructing Tracking Reports that reflect data you do know about your aggressive marketing activity.
To do that you first need a complete list of current marketing activities.
Summary:
- Work towards identifying your most important KPIs.
- Develop Tracking Reports to reflect your marketing activity
- Start off with a list of current marketing activity and think about how to put numbers to it.
When working for a client, or one of my own marketing projects, I need a lot of data. In future posts I will reveal the Tracking Reports of Aggressive Marketing.
Originally posted 2008-03-30 10:13:32.
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