Performance Monitoring and Evaluation System (KPI)
Posted: Sat Feb 01, 2025 5:25 am
The system of control and evaluation of effectiveness in the marketing strategy is a mechanism that allows the company to evaluate the results of its marketing activities and adjust the strategy in accordance with the set goals. It is necessary in order to:
Understand which marketing activities work and which don't.
Optimize marketing costs.
Increase your marketing return on investment (ROI).
The system should include information about:
Key performance indicators (KPI) :
Measurable values that reflect the degree to which marketing armenia email list objectives have been achieved.
Examples of KPIs: number of sales, brand awareness, number of website visitors, conversion rate.
Data sources:
Where will the data for measuring KPIs be collected?
Examples of data sources: customer relationship management (CRM) system , web analytics system , sales reports.
Data Collection Process: How the data will be collected.
Data Analysis Process: How the data will be analyzed.
Reporting process: How the results of the data analysis will be presented to stakeholders.
Stages of creating a system of control and evaluation of effectiveness
Defining Key Success Indicators (KPIs)
Sales: Sales volume, revenue , market share.
Brand Awareness: The level of brand recognition among the target audience.
Customer acquisition: Number of new customers, cost of customer acquisition.
Customer Retention: Customer loyalty level, frequency of repeat purchases.
Reach and engagement: Number of ad views, activity on social networks.
ROI (Return on Investment): An assessment of the effectiveness of marketing campaigns in terms of the ratio of costs to revenues.
Understand which marketing activities work and which don't.
Optimize marketing costs.
Increase your marketing return on investment (ROI).
The system should include information about:
Key performance indicators (KPI) :
Measurable values that reflect the degree to which marketing armenia email list objectives have been achieved.
Examples of KPIs: number of sales, brand awareness, number of website visitors, conversion rate.
Data sources:
Where will the data for measuring KPIs be collected?
Examples of data sources: customer relationship management (CRM) system , web analytics system , sales reports.
Data Collection Process: How the data will be collected.
Data Analysis Process: How the data will be analyzed.
Reporting process: How the results of the data analysis will be presented to stakeholders.
Stages of creating a system of control and evaluation of effectiveness
Defining Key Success Indicators (KPIs)
Sales: Sales volume, revenue , market share.
Brand Awareness: The level of brand recognition among the target audience.
Customer acquisition: Number of new customers, cost of customer acquisition.
Customer Retention: Customer loyalty level, frequency of repeat purchases.
Reach and engagement: Number of ad views, activity on social networks.
ROI (Return on Investment): An assessment of the effectiveness of marketing campaigns in terms of the ratio of costs to revenues.