• MARKETING PERFORMANCE MANAGEMENT

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  • MARKETING PERFORMANCE MANAGEMENT

    TAKE A FREE TEST DRIVE!

    Find Musqot at Salesforce AppExchange & see how
    You can enhance Your marketing performance.

    Go to AppExchange

Marketing Performance Management (MPM)

Marketing Performance Management is the analysis and improvement of the efficiency and effectiveness of marketing. This is accomplished by focus on the alignment of marketing activities,

strategies, and metrics with business goals. It involves measuring, managing, and analyzing marketing performance to maximize effectiveness and optimize the return of investment (ROI) of marketing.

 

To effectively apply a Marketing Performance Management approach,
organizations need some sort of IT solution to support them.

  • Data and analytics
  • The collection and analysis of relevant data is a crucial part of Marketing Performance Management. By thoroughly analyzing the data, organizations can gather actionable business insights to improve the marketing effectiveness and marketing efficiency. Companies can, for example, optimize marketing spending by measuring the impact of marketing activities on sales of a product.

    For such measurements, data is used to create a model that establishes the link between marketing spend, in specific channels and geographies for example, and incremental sales. IT-systems that support Marketing Performance Management often offer various dashboards that graphically illustrate correlation between data, in order to simplify the analytics process.
  • Use your metrics to prove value
  • Measurement and metrics enable marketing professionals to justify budgets based on returns and to drive organizational growth and innovation. As a result, marketers use these metrics to prove value and demonstrate the contribution of marketing to the organization.

    Popular metrics used in analysis include activity-based metrics that involves numerical counting and reporting. For example, tracking downloads, Web site visitors, attendees at various events are types of activity-based metrics.
  • Use your metrics to prove value
  • Linking marketing to business outcomes, such as sales figures and market share growth, is in some ways even more important, even if sometimes more difficult as well.

    While metrics data can be manually populated in a Marketing Performance Management system, any efficient management of larger volumes of information typically requires the Marketing Performance Management system to be integrated with external data sources. Examples of such data sources are Social media platforms, CRM-systems and ERP-systems.

    The content of this specific page is Musqot Marketing Technology’s edited version of content from Wikipedia, and is released under the Wikipedia main license (CC-BY-SA).

INTERESTING MARKETING FACTS

Thin Orange Line

Mobile channels

34% of US marketers plan to significantly increase spending on mobile channels in 2015, compared to 14% for search.

Customer satisfaction

62% of US marketers view improving customer satisfaction as the top reason to invest more in technology.

Content activity

51% of business to business marketers do not connect content activity to business value.

Social media

74% of US marketers use social media to keep up with the latest industry shifts.