Performance Metrics

How do you know if your brand is strong?

How do you know if your brand development efforts are successful?

How do you know which strategies create the greatest return on investment?

The only way to answer these questions accurately is through Performance Metrics. Performance Metrics catalog and compare statistical data at key points in the development process. Through comparative analysis of data tracked prior to, during, and after a period of brand development efforts, it is possible to accurately gauge the value of the endeavor. In addition to tracking results, the information can serve in many areas:

• Prioritization of marketing funds • Greater awareness of market perceptions • Appropriate budget allocations • Predictability of seasonal or other external influencers The methods for tracking specific data, and for determining what data to track vary from company to company. Following is a list of classic performance metrics.

• Acquired / Lost Customers • Customer Retention • Awareness/Recall/Recognition • Buying Rate/Variety • Brand Premium/Advantage • Penetration • Purchase Frequency • Purchase Size • Purchase Cycle • Sales Rate • Community Impact (PR Value)

• Brand Loyalty • Referral Index • Market Share • Advertising Impact • Brand Preference • Customer Satisfaction • Brand Regard • Inventory Turns

Performance Metrics - To learn more about this author, visit Andrea O'Neill's Website.

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