Now that we have built the foundation for analytic marketing, it’s time that we start talking about the metrics that we need to understand to quantify and qualify our marketing performance. As I have said in earlier lectures, marketing has long been considered a “fuzzy science,” but when we are able to quantify our performance, we are able to take it out of the fuzzy and bring it into real numbers that are used to judge our success.
This is the first of a three-part lecture series that covers the first 5 metrics (and a few sub-metrics) that will quantify your brand awareness, brand equity, “test drive” and its relation to intention to purchase, and churn rates. We will also introduce you to the modern purchasing funnel which will help you to understand better the decision-making process for buyer influence. Each metric is supported with mathematics and examples from different industries to enhance your knowledge.
Please feel free to post comments and queries below.