Quantitative Marketing: Continual Improvements to Your Strategy
Posted by Ryan Nokes 7/28/09
(Part 6 of 6 on the Marketing Analytics Method)
We’re back with our last post of this series on quantitative marketing analytics. The last two blogs we posted were special entries to answer questions from our followers on Twitter. This returns to and concludes the marketing analytics series we’ve been working on.
In part 1 of our series, we showed that most organizations work like this soccer team: http://www.youtube.com/watch?v=9QPsL5oqwiA
Over the past several blog posts, we’ve endeavored to show how your organization can perform like this: http://www.youtube.com/watch?v=YWFpPST94wU
That’s incredible coordination. What separates clip 1 from clip 2 is their level of understanding. The first team has only a rudimentary understanding of what they are supposed to be doing and how to act in sync. The second team acts like a well-oiled machine, because they have a common vision that they understand how to translate into results.
We’ve used the vinyl wall art industry as a case study, highlighting specifically www.ellemenopea.com. Each post developed in some detail each of the following steps in the marketing analytics cycle (the text next to the boxes is from the case study):
We proved that by communicating the corporate vision to all employees, and then linking that vision to measurable goals, and then executing the strategy and monitoring progress – again communicating to the organization – that Ellemenopea would be much more able to achieve what they wanted. By linking the high-level vision into daily operations, bottom-line improvements can be made.
As you do the same things in your organization, you can achieve similar results. However, we understand that the difficulty of the above process comes not in setting the vision or goals, but in measuring those and adjusting the strategy accordingly. Our next posts will dive deeper into how to become a company driven by analytics.
Let us know how you compete on marketing analytics and turn them into strategic advantages or share with us your questions. We appreciate your feedback!