Chapter 6: Marketing Productivity Metrics
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COSLA of Chapter 6: Marketing Productivity Metrics from the book Marketing 4.0 by Philip Kotler By Team Digigimons of UP Diliman enrolled in BA 178 Digital Marketing class
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Chapter 6: Marketing Productivity Metrics
- 1. MARKETING PRODUCTIVITY METRICS CHAPTER SIX Barreiro | Bautista | Billones | Tappa
- 2. THE OUTLINE Purchase Action Ratio & Brand Advocacy Ratio II Marketing Productivity Metrics I Decompose P.A.R. and B.A.R. III Driving Up Productivity (It’s Game Time!) IV
- 3. Introduction to Marketing Productivity Metrics Brand Awareness Brand managers regularly conduct research to know how well the market remembers and recognizes their brand
- 4. Introduction to Marketing Productivity Metrics Customer Satisfaction and Loyalty Tracked by service managers; it can be reflected in a high loyalty index Loyalty Willingness of a customer to recommend a certain brand Brand Advocacy
- 5. Introduction to Marketing Productivity Metrics Weaknesses Outcome > Process B r a n d m a n a g e r s d o n ’ t communicate with service managers
- 6. Purchase Action Ratio & Brand Advocacy Ratio Purchase Action Ratio How well companies convert brand awareness into brand purchase Brand Advocacy Ratio How good companies convert brand awareness into brand advocacy
- 7. Purchase Action Ratio & Brand Advocacy Ratio Brand Advocacy Ratio = Spontaneous Awareness Spontaneous Advocacy Purchase Action Ratio = Purchase Action Spontaneous Awareness
- 8. Decomposing P.A.R. & B.A.R.
- 9. Driving Up Productivity Awareness > Appeal
- 10. Driving Up Productivity Increase Attraction - humanized brands, authentic differentiation, strong appeal Social and environmental values • Every jelly bean = 1 seed planted Personalized products (dell laptops) and mass customization • Have a bag of jelly beans while choosing your own flavors
- 11. Driving Up Productivity Lifestyle Movements, Unorthodox Way of Doing Things • e.g. CASPER • Only sells 2 types of mattresses • sells online and compresses a queen-sized mattress into a shipping friendly 21-by-21-by-42-inch box • 100-night trial, free shipping and returns
- 12. Driving Up Productivity Appeal > Ask
- 13. Driving Up Productivity Optimize Curiosity 1. Provide appealing knowledge without giving too much away 2. Done through content marketing • Seemingly random content, figure out later it’s by a company. e.g. A video series of a man with machete saving the world. People find out it’s Marcell’s Machetes. • Distribution and amplification of content • Make it accessible and searchable 3. Zero Moment of Truth (ZMOT) - pre-purchase phase, search online and talking with friends and family. Precedes First Moment of Truth (FMOT) 4. Note: Only curiosity level should not be closer to 1.
- 14. Driving Up Productivity Ask > Act
- 15. Driving Up Productivity Increase Commitment 1. Improve channel availability and ability to deliver superior customer experience 2. Omnichannel marketing, Intergrated online and offline experience for customers • Physical store, website, mobile application, call centers, etc. • Seamless experience 3. Break down organizational silos • M a r k e t a n d P r o d u c t specialists to Activity Specialists
- 16. Driving Up Productivity Act > Advocate
- 17. Driving Up Productivity Increase Affinity 1. Increase touchpoints for interaction, customer- engagement programs. • Empower Staff • Social Media - less emotionally demanding interaction, easier for people to reach out a. JetBlue Airways - known for Twitter engagement 2. Gamification - milestones, perks, benefits (Starbucks) • e.g. For every 20 nuts, you get a free drink and Nyan will give you a dance
- 19. Aware Commitment Act Attraction Advocate Appeal Curiosity Affinity Ask Purpose of all these numbers: to bridge awareness to advocacy, improve marketing productivity and avoid unnecessary waste in marketing spending.