MARKETING METRICS EVERY BUSINESS MUST TRACK | PACI
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Are you looking for the best marketing metrics for every business? If yes then PACI will help you in that for track all financial management metrics.
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MARGIN & PROFIT sangat penting dalam sebuah perusahaan
This document discusses key business concepts related to margins, profits, costs, and pricing. It defines margins as the difference between selling price and production costs, and explains how margins are calculated and their importance in business. Variable costs change with production volume, while fixed costs remain constant. The document also covers break-even analysis, contribution analysis, and factors that influence target volumes. Marketing spending is divided into total, fixed, and variable categories. Overall, the key to business success is effectively analyzing costs and implementing strategies to optimize margins and profits over the long run.
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The document summarizes methods for designing sales territories and setting sales quotas. It discusses procedures for designing territories using build-up and breakdown methods to equalize workload or sales potential across territories. Quotas can be set using total market estimates, territory potential, past sales experience, executive judgement, salespeople's estimates, or to fit compensation plans. Combination quotas are also used to control multiple performance metrics.
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The document discusses managing sales territories, quotas, and performance. It covers designing sales territories, assigning salespeople, and managing territorial coverage through routing, scheduling, and time management tools. It also discusses the different types of sales quotas used, including sales volume, financial, and activity quotas. Finally, it outlines several methods for setting sales quotas, including using total market estimates, territory potential, past sales experience, and executive judgement. Companies should select a few realistic quotas and administer them flexibly.
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Cost accounting is the application of costing and cost accounting methods, techniques and principles to control costs and ascertain profitability. The main objectives of cost accounting are to find the cost of goods produced or services rendered and help management detect and control inefficiencies. Cost accounting provides information to management for decision making. Costs can be classified by elements, functions, and behavior. Marginal costing is a technique that includes only variable costs in the unit cost and treats fixed costs as period costs to minimize losses and maximize contribution. Key concepts in marginal costing include contribution, profit-volume ratio, break-even point, and margin of safety. Marginal costing helps management with decision making by focusing on contribution.
Importance of metrics in marketing
This is a presentation that I had presented at a recent webinar for Lead squared CRM on the LSQ Webinar series.
Marketing Performance Report Card: 6 Metrics You Should Measure
With the shift into a data-driven marketing industry, how can you as a marketer evaluate your marketing effectiveness?
L7 Creative has created the Marketing Performance Report Card that includes the top six metrics you can use in your marketing performance evaluation.
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The document discusses analyzing sales and marketing costs through various techniques. It describes how marketing audits, sales force audits, sales analysis, and marketing cost analysis can be used to direct marketing efforts, evaluate performance, and isolate problem areas. The goal is to concentrate resources in the most profitable areas by understanding factors like costs, sales volumes, product lines, territories, and customer groups. These analytical tools provide insights to make informed decisions about areas like resource allocation, distribution channels, product mixes, and salesforce management.
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Ch4 management of territories
The document discusses management of sales territories and quotas. It describes how companies design sales territories by dividing geographic areas into regions assigned to individual salespeople. Territories are designed to maximize customer coverage and evaluate salesforce performance. Quotas set sales goals for territories to motivate salespeople and control performance. Companies use various methods like analyzing past sales, territory potential, and executive judgement to set realistic quotas.
Monitoring and control
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You need to know what a customer is worth to you on so you can figure out if you can spend more in marketing to acquire more ideal customers.
In another article we discussed Cost of Acquisition for a customer, and if your cost of acquisition fits well inside your overall customer profit then you can continue to spend on that acquisition strategy.
If your cost to acquire is too high based upon your customer lifetime value then you are spending too much in acquisition.
The best marketing campaigns acquire your ideal customers, and they are the ones with a high lifetime value to you that you actually like working with.
Sales quota and sales territory
This document discusses sales quotas and quota setting procedures. It defines what sales quotas are and their purposes. There are different types of sales quotas, including sales volume quotas, profit quotas, and activity quotas. The document outlines the quota setting procedure which involves setting parameters, adding expected growth, and allocating individual quotas. Sales territories are also discussed, including what they are, different types, and elements of territory management.
Revenue Metrics for the Revenue Marketer
This document discusses the transformation of marketing roles to focus on revenue generation. It notes that roughly 50% of B2B marketers now have direct revenue accountability. Marketers are engaging prospects earlier in the buying process and staying involved through sales and after. As their role changes, marketers need new metrics to demonstrate business impact, moving from measuring activities to measuring revenue results. The document provides examples of key revenue metrics and outlines challenges in accurately calculating marketing ROI across the entire customer lifecycle. It emphasizes the importance of alignment between marketing, sales, finance, and IT to define common definitions, processes, and key performance indicators tied to revenue.
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This document discusses how marketing and sales can better align through defining key terms, setting expectations, and tracking results. It recommends that teams 1) agree on what makes a lead "sales-ready", 2) define stages contacts progress through, 3) set a service-level agreement outlining lead volume and follow-up expectations, and 4) establish shared dashboards to close the reporting loop and monitor progress. Examples are provided for how to calculate lead needs based on revenue goals and conversion rates to create an effective SLA.
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This presentation is for startups who understand who their customers are and have their product market fit.
We take a look at how you can scale and grow your acquisition and retention. Looking at some cool tips and techniques for both customer acquisition and retention.
1.The element of the marketing mix used to increase awareness of.docx
1.
The element of the marketing mix used to increase awareness of a product or company is
Answer
[removed]
communication.
[removed]
product.
[removed]
price.
[removed]
distribution.
[removed]
2.
Customer costs include anything the buyer must give up in order to obtain the benefits the product provides. The most obvious customer cost is
Answer
[removed]
risk.
[removed]
time.
[removed]
monetary price.
[removed]
effort.
[removed]
availability.
3.
Marketing knowledge and skills
Answer
[removed]
are not necessary for a nonprofit organization.
[removed]
enhance consumer awareness and help provide people with satisfying goods and services.
[removed]
constitute the marketing mix.
[removed]
were most important during the production era.
[removed]
are most valuable for advertising executives but less important for wholesalers and distributor
4.
The focal point of all marketing activities is
Answer
[removed]
products.
[removed]
the marketing mix.
[removed]
profits.
[removed]
sales.
[removed]
customers.
5.
____ is the degree to which an exchange helps achieve an organization's objectives.
Answer
[removed]
Controlling
[removed]
Effectiveness
[removed]
Success rate
[removed]
Efficiency
[removed]
Objectivity
6.
In managing customer relationships, the three primary ways profits can be obtained are by
Answer
[removed]
acquiring new customers, enhancing the profitability of new customers, and shortening the duration of relationships with existing customers.
[removed]
enhancing the profitability of existing customers, eliminating customers who provide smaller profits, and finding new customers.
[removed]
extending the length of relationships with customers, cutting organizational costs, and enhancing the profitability of new customers.
[removed]
eliminating long-term customers who have decreased purchases, finding new customers, and increasing sales to existing customers.
[removed]
enhancing the profitability of existing customers, extending the duration of relationships with customers, and obtaining new customers.
7.
The marketing concept is best defined as
Answer
[removed]
a second definition of marketing.
[removed]
a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allows the organization to achieve its goals.
[removed]
the performance of business activities that direct the flow of goods and services from producer to customer or user.
[removed]
a philosophy stating that an organization should attempt to accomplish its goals with no regard for the needs of customers.
[removed]
the inclusion of marketing activities in the activities of an organization.
8.
The equation a buyer applies to assess a product's value is
Answer
[removed]
value = monetary price – customer benefits.
[removed]
value = customer costs – customer benefits.
[removed]
value = customer benefits – customer costs.
[removed]
value = customer benefits – monetar.
Sales budget, quotas and sales territories
The document discusses sales budgets, quotas, and sales territories. It provides details on:
- How sales budgets are made based on sales forecasts and help plan resources to achieve sales objectives.
- The purposes of sales budgets which include profit planning, coordination between departments, and performance control.
- How sales quotas are set as goals for marketing units and used to measure, control, and motivate performance.
- Different types of quotas including sales volume, financial, and activity quotas.
- Methods for setting quotas such as territory potential and executives' judgment.
- What sales territories are and factors that influence them such as size, market potential, and salesperson assigned.
- Steps in territory planning like salesperson capacity
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73% of your fellow executives don’t believe that marketers are focused enough on results that truly drive incremental customer demand.
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This cheat sheet cuts through the unfocused metrics and guides you through the only 6 marketing metrics you need to be focus on:
Marketing % of Customer Acquisition Cost
Ratio of customer lifetime value to CAC
Time to Payback
Marketing Originated Customer %
Marketing Influenced Customer %
1Running head SALES MANAGEMENT PROCESS2SALES MANAGEME.docx
1
Running head: SALES MANAGEMENT PROCESS
2
SALES MANAGEMENT PROCESS
STATISTICAL PROCESS CONTROL PROCEDURE
Student Name
Institution Name
Professor Name
Course Name
Date
The discipline which mainly stresses the practical improvement of sales methods and management of an organization is defined as a Sales management process. It is an essential part of business as every sale as to go through the sales section either be products or services and getting profits. These are considered as indicators of performance and aim of sales management. It is the practice of controlling the sales department and its work. I have a sales team, and I manage it in a corporate firm. The process includes some elements which are very necessary to look into before proceeding into these stages:
· Planning of the sales
· helps to develop a proper and measured strategy for having profited from any angle and sets on the targets, resources, and activities. Marketing, strategic planning and the business plan with a more in-depth explanation of how the objectives can be achieved through sales (Baldauf, 2015).
· Appointing of the sales team
· is a very tough job as this leads to the future. It includes the job description, job analysis, and job qualifications.
· Incentives- Proper incentives should be prepared as sales quotas for the benefit of the company.
· Forecasting about the future weeks and months based on the data gathered
· Sales operations to move along forecasts. Our fashion company brings the shoes into market and color, finally producing the required item on time (Baldauf, 2015).
· Managing through a process of recognizing heads, better leads, growing opportunities and proposals, and excellent customer service.
· The main tool of sales is information technology, which helps to increase sales.
· Creating valuable customer and market information about the market and
· The setting of the aim and management doing for sales teams
· Creating the spirit of team development by training to bring out good skills
· Using techniques to move according to the fast competitive situations
· To remove the risk of sales failures.
· Having proper knowledge about the products, (Sharif, 2014).
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The manager creates a team of a salesperson who helps to gather data. They help to get a proper place in the sales department as well as an organization as a whole. Specific training is given for the implementation of learning basics of selling and the main objectives of selling (Baldauf, 2015).
OBJECTIVE:
In this section, the main aim is to get the deal done with maximum profit. It is very uncommon that the sales professional goes through everyday positive sales with a customer from the beginning till the end. The salesman should from beginning till the end has to work for in this competitive market to convince and satisfy the customers about the value of the proposal. Objection handling should be a major point in the sales training program, (Carry, 20 ...
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2. It describes the purpose and process of salesforce audits to assess performance and recommend improvements. Key aspects include analyzing what happened, why, and what to do about issues.
3. It outlines methods to evaluate salesforce effectiveness through sales, cost, profitability and productivity analysis. This includes techniques like hierarchical sales analysis and contribution approach to profitability analysis.
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The document discusses various aspects of controlling the salesforce, including salesforce expense plans, salesforce audits, evaluating sales organization effectiveness, and controlling salesperson performance. It covers criteria for effective expense plans, types of plans, purposes of audits and the evaluation process. It also explains analyzing sales, costs, profits and productivity to evaluate effectiveness, and setting standards, reviewing performance, and taking actions to control salesperson performance. Finally, it discusses ethical, social and legal responsibilities of sales managers.
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Chapter 15
The document discusses analyzing sales and marketing costs through various techniques. It describes how marketing audits, sales force audits, sales analysis, and marketing cost analysis can be used to direct marketing efforts, evaluate performance, and isolate problem areas. The goal is to concentrate resources in the most profitable areas by understanding factors like costs, sales volumes, product lines, territories, and customer groups. These analytical tools provide insights to make informed decisions about areas like resource allocation, distribution channels, product mixes, and salesforce management.
Marketing Performance & Profitability
This document discusses various metrics and strategies for measuring marketing performance and profitability. It outlines internal metrics like unit costs and overhead expenses, as well as external metrics like market share, customer satisfaction, and sales growth. It also discusses calculating return on marketing investments, analyzing variances from marketing plans, and using scorecards to measure customer retention and satisfaction. The overall aim is to help organizations quantify, compare, and improve their marketing performance and profitability over time.
Ch4 management of territories
The document discusses management of sales territories and quotas. It describes how companies design sales territories by dividing geographic areas into regions assigned to individual salespeople. Territories are designed to maximize customer coverage and evaluate salesforce performance. Quotas set sales goals for territories to motivate salespeople and control performance. Companies use various methods like analyzing past sales, territory potential, and executive judgement to set realistic quotas.
Monitoring and control
Marketing control involves measuring results against budgets and goals, analyzing variances, and taking remedial steps. Key aspects of marketing control include budget control, profitability analysis, and measuring efficiency. Various metrics are used to evaluate the efficiency of marketing expenses like sales force, advertising, sales promotion, and distribution. Financial analysis also examines metrics like return on net worth and profit margins.
Economics of crm 3
You need to know what a customer is worth to you on so you can figure out if you can spend more in marketing to acquire more ideal customers.
In another article we discussed Cost of Acquisition for a customer, and if your cost of acquisition fits well inside your overall customer profit then you can continue to spend on that acquisition strategy.
If your cost to acquire is too high based upon your customer lifetime value then you are spending too much in acquisition.
The best marketing campaigns acquire your ideal customers, and they are the ones with a high lifetime value to you that you actually like working with.
Sales quota and sales territory
This document discusses sales quotas and quota setting procedures. It defines what sales quotas are and their purposes. There are different types of sales quotas, including sales volume quotas, profit quotas, and activity quotas. The document outlines the quota setting procedure which involves setting parameters, adding expected growth, and allocating individual quotas. Sales territories are also discussed, including what they are, different types, and elements of territory management.
Revenue Metrics for the Revenue Marketer
This document discusses the transformation of marketing roles to focus on revenue generation. It notes that roughly 50% of B2B marketers now have direct revenue accountability. Marketers are engaging prospects earlier in the buying process and staying involved through sales and after. As their role changes, marketers need new metrics to demonstrate business impact, moving from measuring activities to measuring revenue results. The document provides examples of key revenue metrics and outlines challenges in accurately calculating marketing ROI across the entire customer lifecycle. It emphasizes the importance of alignment between marketing, sales, finance, and IT to define common definitions, processes, and key performance indicators tied to revenue.
Setting Up A Strong Sales & Marketing Alignment Using HubSpot
This document discusses how marketing and sales can better align through defining key terms, setting expectations, and tracking results. It recommends that teams 1) agree on what makes a lead "sales-ready", 2) define stages contacts progress through, 3) set a service-level agreement outlining lead volume and follow-up expectations, and 4) establish shared dashboards to close the reporting loop and monitor progress. Examples are provided for how to calculate lead needs based on revenue goals and conversion rates to create an effective SLA.
Grow and scale customer acquisition (and retention)
This presentation is for startups who understand who their customers are and have their product market fit.
We take a look at how you can scale and grow your acquisition and retention. Looking at some cool tips and techniques for both customer acquisition and retention.
1.The element of the marketing mix used to increase awareness of.docx
1.
The element of the marketing mix used to increase awareness of a product or company is
Answer
[removed]
communication.
[removed]
product.
[removed]
price.
[removed]
distribution.
[removed]
2.
Customer costs include anything the buyer must give up in order to obtain the benefits the product provides. The most obvious customer cost is
Answer
[removed]
risk.
[removed]
time.
[removed]
monetary price.
[removed]
effort.
[removed]
availability.
3.
Marketing knowledge and skills
Answer
[removed]
are not necessary for a nonprofit organization.
[removed]
enhance consumer awareness and help provide people with satisfying goods and services.
[removed]
constitute the marketing mix.
[removed]
were most important during the production era.
[removed]
are most valuable for advertising executives but less important for wholesalers and distributor
4.
The focal point of all marketing activities is
Answer
[removed]
products.
[removed]
the marketing mix.
[removed]
profits.
[removed]
sales.
[removed]
customers.
5.
____ is the degree to which an exchange helps achieve an organization's objectives.
Answer
[removed]
Controlling
[removed]
Effectiveness
[removed]
Success rate
[removed]
Efficiency
[removed]
Objectivity
6.
In managing customer relationships, the three primary ways profits can be obtained are by
Answer
[removed]
acquiring new customers, enhancing the profitability of new customers, and shortening the duration of relationships with existing customers.
[removed]
enhancing the profitability of existing customers, eliminating customers who provide smaller profits, and finding new customers.
[removed]
extending the length of relationships with customers, cutting organizational costs, and enhancing the profitability of new customers.
[removed]
eliminating long-term customers who have decreased purchases, finding new customers, and increasing sales to existing customers.
[removed]
enhancing the profitability of existing customers, extending the duration of relationships with customers, and obtaining new customers.
7.
The marketing concept is best defined as
Answer
[removed]
a second definition of marketing.
[removed]
a philosophy stating that an organization should try to satisfy customers' needs through a coordinated set of activities that allows the organization to achieve its goals.
[removed]
the performance of business activities that direct the flow of goods and services from producer to customer or user.
[removed]
a philosophy stating that an organization should attempt to accomplish its goals with no regard for the needs of customers.
[removed]
the inclusion of marketing activities in the activities of an organization.
8.
The equation a buyer applies to assess a product's value is
Answer
[removed]
value = monetary price – customer benefits.
[removed]
value = customer costs – customer benefits.
[removed]
value = customer benefits – customer costs.
[removed]
value = customer benefits – monetar.
Sales budget, quotas and sales territories
The document discusses sales budgets, quotas, and sales territories. It provides details on:
- How sales budgets are made based on sales forecasts and help plan resources to achieve sales objectives.
- The purposes of sales budgets which include profit planning, coordination between departments, and performance control.
- How sales quotas are set as goals for marketing units and used to measure, control, and motivate performance.
- Different types of quotas including sales volume, financial, and activity quotas.
- Methods for setting quotas such as territory potential and executives' judgment.
- What sales territories are and factors that influence them such as size, market potential, and salesperson assigned.
- Steps in territory planning like salesperson capacity
6 Marketing Metrics CEO's Should Care About
73% of your fellow executives don’t believe that marketers are focused enough on results that truly drive incremental customer demand.
To get the most from your business’s marketing efforts expect data driven reports on total costs of marketing, salaries, overhead, revenue and customer acquisitions.
This cheat sheet cuts through the unfocused metrics and guides you through the only 6 marketing metrics you need to be focus on:
Marketing % of Customer Acquisition Cost
Ratio of customer lifetime value to CAC
Time to Payback
Marketing Originated Customer %
Marketing Influenced Customer %
1Running head SALES MANAGEMENT PROCESS2SALES MANAGEME.docx
1
Running head: SALES MANAGEMENT PROCESS
2
SALES MANAGEMENT PROCESS
STATISTICAL PROCESS CONTROL PROCEDURE
Student Name
Institution Name
Professor Name
Course Name
Date
The discipline which mainly stresses the practical improvement of sales methods and management of an organization is defined as a Sales management process. It is an essential part of business as every sale as to go through the sales section either be products or services and getting profits. These are considered as indicators of performance and aim of sales management. It is the practice of controlling the sales department and its work. I have a sales team, and I manage it in a corporate firm. The process includes some elements which are very necessary to look into before proceeding into these stages:
· Planning of the sales
· helps to develop a proper and measured strategy for having profited from any angle and sets on the targets, resources, and activities. Marketing, strategic planning and the business plan with a more in-depth explanation of how the objectives can be achieved through sales (Baldauf, 2015).
· Appointing of the sales team
· is a very tough job as this leads to the future. It includes the job description, job analysis, and job qualifications.
· Incentives- Proper incentives should be prepared as sales quotas for the benefit of the company.
· Forecasting about the future weeks and months based on the data gathered
· Sales operations to move along forecasts. Our fashion company brings the shoes into market and color, finally producing the required item on time (Baldauf, 2015).
· Managing through a process of recognizing heads, better leads, growing opportunities and proposals, and excellent customer service.
· The main tool of sales is information technology, which helps to increase sales.
· Creating valuable customer and market information about the market and
· The setting of the aim and management doing for sales teams
· Creating the spirit of team development by training to bring out good skills
· Using techniques to move according to the fast competitive situations
· To remove the risk of sales failures.
· Having proper knowledge about the products, (Sharif, 2014).
TEAM FORMATION
The manager creates a team of a salesperson who helps to gather data. They help to get a proper place in the sales department as well as an organization as a whole. Specific training is given for the implementation of learning basics of selling and the main objectives of selling (Baldauf, 2015).
OBJECTIVE:
In this section, the main aim is to get the deal done with maximum profit. It is very uncommon that the sales professional goes through everyday positive sales with a customer from the beginning till the end. The salesman should from beginning till the end has to work for in this competitive market to convince and satisfy the customers about the value of the proposal. Objection handling should be a major point in the sales training program, (Carry, 20 ...
Day 3,4 sales & didtri sess 6
This document discusses controlling and evaluating salesforce performance. It covers several topics in 3 paragraphs or less:
1. It discusses criteria for effective salesforce expense plans and four types of plans: salespeople pay all, company pays all, company partially pays, and combination plans.
2. It describes the purpose and process of salesforce audits to assess performance and recommend improvements. Key aspects include analyzing what happened, why, and what to do about issues.
3. It outlines methods to evaluate salesforce effectiveness through sales, cost, profitability and productivity analysis. This includes techniques like hierarchical sales analysis and contribution approach to profitability analysis.
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- 2. RETURN ON MARKETING INVESTMENT 1 This is a metric that points to the profits from incremental sales that are contributed by marketing activity. It gives insights into the value each marketing activity generates and as well understands which mix of channels performs well and which don’t. ROI = (Sales growth – Marketing cost) / Marketing Investment x 100
- 3. CUSTOMER ACQUISITION COST (CAC) 2 This is one of the most popular marketing measurements that consider all marketing and sales costs including sales team salaries, and benefits to the ad spend. Customer acquisition cost = Total marketing and sales spend / Number of new customers
- 4. CUSTOMER RETENTION 3 This brings home the percentage of existing customers who remain during a specific period of time. Customer retention = (Number of customers at end of a period – Customers added during the period) / Number of customers at beginning of the period
- 5. COST PER LEAD (CPL) 4 Understanding how much it costs to onboard and retains a customer is an important marketing metric that will help in developing marketing strategies. CPL = Total marketing spend / Number of new leads
- 6. CUSTOMER LIFETIME VALUE (CLV) 5 This metric calculates the total profit earned by the company from a customer over the entire time they remain a customer. CLV = (Average transaction value x Average number of transactions in a year x Average customer retention in years) x Profit margin
- 7. CREATED BY PACI FINANCE THANKYOU We hope you found this post helpful. Tracking all these marketing metrics will help you know the performance of your marketing team.