METRICS
MARKETING
The steps that companies follow
in order to achieve customer
preference and its own goals.
Serves to increase marketing accountability
within the firm and to justify spending valuable
firm resources on marketing initiatives to top managers.
Restaturant
Metrics
Non Financial
Average response time on SM
Metric
Measure
Is a calculation between two measures.
A "measure" is a number that is derived from taking a measurement (height, weight or temperature).
Tecnology
A very powerful and helpful
mean of measurement.
Calculate prices
Store data
Measure frecuency
Internet
Availavility and complexity of metrics
Identification of new divers
Choosing the right metrics in order to quantify marketing activities is complex and difficult
(Farris, et al., 2006: 3).
In Finance
Metrics are either monetary based, based on financial ratios, or readily converted to monetary outcomes such as net profit, ROI, target volume.
For Practitioners
It is a way of identifying your trends within your business, it's a way of benchmarking yourselves against your competitor. They must be SMART.
In Management
A metric is described as “a measuring system that quantifies a trend, dynamic or characteristic”
Ambler (2000 p.61)
“C performance measure that top management should review”, that “matters to the whole business” and that “implies regularity”.
Academically
The term metrics is more related to mathematics,
where metrics defines the notion of distance.
FINANCIAL METRICS
MARKETING METRICS
Brand value
Customer value
Word of mouth and referral value
Retention and acquisition
Cross buying and up buying
Product return
Multichannel shoping
Website Traffic
Number of customer contacts
Average response time on review sites
Financial
Inbound Sources
LTV (Life time value)
ROI (Return of investment)