Mintz, O. (2023). Metrics for Marketing Decisions: Drivers and Implications for Performance. NIM Marketing Intelligence Review, 15(1), 18-23. https://doi.org/10.2478/nimmir-2023-0003
Metrics for Marketing Decisions: Drivers and Implications for Performance
Abstract:
Marketers are using metrics to diagnose, coordinate and monitor customer relationships and marketing efforts, set benchmarking goals to guide marketing implementation, and communicate the results of marketing outcomes with internal and external stakeholders.
Even if the number of available metrics is striking, some studies found support for the idea that the more metrics managers employed for their decisions, the better the marketing performance. Studies by the author also showed that using non-financial marketing metrics, such as awareness, willingness to recommend and loyalty, seemed to be associated with better marketing mix performance outcomes than using financial metrics, such as target volume, NPV and net profit. Developing a customer-centric organizational structure encourages managers to consider and develop a greater reliance on metrics.
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