MBA 645-Determining KPIs to Measure Strategy

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Jan 9, 2024

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DETERMINING KPI S TO MEASURE STRATEGY SUCCESS MBA 645 OPTIMIZING THE BRAND Thuymy Pham Professor Ron Evans November 24, 2021 2021 1
SMART OBJECTIVES SMART COMMUNICATION CREATIVE MARKETING 2021 This Photo by Unknown Author is licensed under This Photo by Unknown Author is licensed under CC BY-NC-ND
SMART OBJECTIVES COMMUNICATION OBJECTIVE Increase social media networks to inform visitors of the new safety measure to build positive image by 5% over a three-month period. CREATIVE MARKETING OBJECTIVE 2021 Build positive image specific outcome Build positive image specific outcome 5% is a measurable amount 5% is a measurable amount Increase social media is both achievable & relevant Over a three-month period is the specific time to achieve results Over a three-month period is the specific time to achieve results The company needs to host free events to build network at the local level, shooting for a 5% increase in visitors over a three-month period. Build network at the local level– specific outcome Build network at the local level– specific outcome 5% is a measurable amount 5% is a measurable amount Increase in visitors is both achievable & relevant Increase in visitors is both achievable & relevant Over a three-month period is the specific time to achieve results Over a three-month period is the specific time to achieve results
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KPI IDENTIFICATION SOCIAL MEDIA Increase in conversation, applause & amplification. MARKETING STRATEGY Increase the percentage of new visitors to the theme park. 2021
KPI IDENTIFICATION SOCIAL MEDIA Determine the success of the company’s marketing campaigns. For example, there is significant value in the number of people who tweet and retweet positive mentions of the theme park on Twitter, the number of “likes” on the theme park’s Facebook page . MARKETING STRATEGY Acquired number of visitors. Number of new and returning guests. For example, how many tickets, packages, deals, products, and services were sold in the first three months of the theme park reopening. 2021
METHODS FOR RESULTS MONITORING ANALYTICAL TOOL Google Analytics (GA) is a web analytics service provided by Google. GA is used to monitor the performance and status of a website. TICKET SALES DATABASE The theme park can use ticket sales database which can provide accurate data about the visitor levels. 2021
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METHODS FOR RESULTS MONITORING ANALYTICAL TOOL Google Analytics provide the company with various types of information and data about the theme park’s site, such as the number of visitors, conversion data, sources of traffic, geographical data about the theme park’s website visitors (Google). TICKET SALES DATABASE The theme park can use ticket sales database, especially on the theme park’s website to create a filter showing people who purchased tickets in the past, but have not yet purchased tickets to this year reopening. The company then send a targeted message through email, or SMS. 2021
REFERENCES Bonchek, M. & France, C. (2017). What creativity in marketing looks like today . Harvard Business Review. https://hbr.org/2017/03/what-creativity-in-marketing-looks-like-today Google (n.d.). Analytics tools & solutions for your business. https://marketingplatform.google.com/about/analytics / Kenny, G. (2020). Create KPIs that reflect your strategic priorities . Harvard Business Review. https://hbr.org/2020/02/create-kpis-that-reflect-your-strategic-priorities Scanlon, J. (2020). Innovation or growth: How to plan your market strategy for next year. Forbes. https://www.forbes.com/sites/forbesbusinesscouncil/2020/11/16/innovatio n-or-growth-how-to-plan-your-market-strategy-for-next-year/? sh=55d2fa2e4fe8 2021 8