The latest and essential marketing metrics

Trivia Corner  For you New York fans: Where did the term “The Big Apple” come from?Answer- Next time

    

Last week I was in my local bookstore and I saw a book whose title stated “50 mandatory marketing metrics.”  My reaction was WOW, 50!  So I went home and after only five minutes of surfing the web found about 200 MORE marketing metrics!  I had two reactions; one, boy most of us are really out of touch, and market research vendors should add marketing metrics as a separate industry segment.

 After reviewing the 200+ metrics (not really) such as RFM, CPA, CPL, CRM, clicks, leads, ROI, and #$%@; I realize there are some keys ones missing.  So if you want to be a top-notch marketer then include these (these are for consumer marketing only, don’t want to give too much away) in your research.

 WMW   -This measures the Willingness of My Wife to let me buy it

 KUJ      -Does buying this Keep me Up with the Jones?

 BME     -Does the product Boost My Ego?

 CFB      –Can I Fudge the Budget to buy it (let’s just charge it anyways)?

 HII       -Does this have High Impressive Index?

 CCI      -What is the Celebrity Correlation Index?

 And of course a very key one!

 PCI     –Politically Correct Index

If none of these really works, then I would suggest that you cut the 200+ list down to the following:

  • Understand your targeted audience
  • Create some real metrics that you can measure
  • Actually follow up and measure them. 

 Stop insulting your customers with all the marketing spin, be honest, give them a real value for the product or service, and make it a favorable experience!

RHL 11/3/09

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