Performance Monitoring and Evaluation System (KPI)

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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.