Determining KPIs to Measure Strategy
10277Overview
A good marketing plan needs to translate into quantifiable measures. Without such quantification, a plan will often fall apart. Thus, defining objectives and respective key performance indicators (KPIs) to measure the effectiveness of the plan is essential.
Your CMO has asked you to create a strategic marketing plan and share it with other regional marketing directors, so that each park follows a similar strategy. Considering the different challenges in each park, the marketing objectives must be broad enough to address each park’s challenges, with minimum or no customization.
Defining the marketing objectives and relevant KPIs will help you, the other regional marketing directors, and the CMO to pre-assess the effectiveness of the plan you have proposed and to address gaps, if any.
Prompt
Create a PowerPoint presentation with audio narration for the CMO and your fellow regional marketing directors in the course scenario. The goal of this presentation will be to share marketing objectives, associated success criteria, and methods to monitor and measure the results.
Note: Remember to use both on-screen text and audio narration or speaker notes in your PowerPoint slides to convey your information effectively. If narration is not possible due to technical challenges, develop precise and extensive speaker notes while addressing all the rubric elements in the presentation. For example, you can use brief bulleted lists on the slide and include detailed explanations in your audio narration or speaker notes.
Specifically, you must address the following criteria:
1. Identify two SMART objectives—one for each marketing strategy identified in the previous assignment. (slides 1–2)
• How does each objective align with the SMART framework? Begin this part by restating the identified marketing strategies and then state the SMART objectives.
2. Identify two KPIs—one for each marketing objective—to measure the success of the marketing strategies. (slides 3–4)
• What are your reasons for choosing each KPI?
3. Determine two methods to monitor the results of the identified KPIs. (slides 5–6)
• Why have you chosen these methods?
Guidelines for Submission
Submit a 6-slide PowerPoint presentation with audio narration or speaker notes. Consult the Shapiro Library APA Style Guide for more information.
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