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The Marketing Performance Measurement Toolkit

David Raab | Resources > From the section: Book Reviews

September, 05, 2014 |

Marketing Performance Toolkit

SLMA Staff Reviewer
$34.95 6 X 9 hardcover , 304 pages Pub: Rancom Communications www.racombooks.com

We recently reviewed Marketing Measurement in Action. While providing a little more of the"30,000-foot view," this book has many similar positive qualities and could be a good companion piece. Specifically, it is well-written and explains a complex subject in an easy-to-understand presentation In the past some books and other information products were described as"a consultant in print" or"a your consultant in a box." This one doesn't, but it could."Do- it-yourself consultant" could be another moniker.

The subject is what is on everybody's minds these days. CMOs and CEOs have been very interested—maybe more so than ever--in measuring marketing performance and determining marketing productivity. And for good reason: the general economy is in crisis, and falling marketing productivity and response rates area a considerable threat to company (and executive and investor) welfare. This is more than just a bad month or a bad quarter.

That is one of this book's special strengths. Most savvy executives realize that the answer isn't going to be found in the"one magic formula or magic number" or some one-size-fits-all theory, and this book responds to that need to get serious. Like a solid business analysis, it begins (in Chapters 1 and 2) by focusing on the basic questions: What are the goals of your projects? What are their scope, and what has to happen to be successful. The next two chapters show how and what kind of necessary background information about the company to ensure that recommendations are both specific and achievable.

In the next four chapters, the focus shifts to the specifics of marketing performance measurement. Chapter 5 shows how to use the"Balanced Scorecard" approach to defining your business strategy, while Chapter 6 shows how to align marketing plans and your measurement project with that strategy. Together these chapters ensure that your new system measures the right things with the right target values. Chapter 7 describes the types of measures available, Chapter 8 describes some of the advanced analytic techniques in more detail, and Chapter 9 provides advice on selecting the best metrics for your own situation. Chapter 10 describes important technologies used in marketing performance measurement solutions. Chapters 11 and 12 provide advice on vendor selection, project implementation, and ongoing enhancements. The book concludes with a comprehensive Appendix providing hundreds of examples for specific applications and an exhaustive Index for reference.

By the end of the book you have the overall framework for crafting your own marketing performance measurement kit. But perhaps most important is that each chapter includes of the book includes handy, easy-to-use worksheets that will enable you to craft your own customized measures and reports for your organization's projects.

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