Question

You are the marketing manager of a company that provides home cleaning services within your state. You have launched a new marketing mix strategy and tactics into the marketplace. What types of information should you monitor to judge the plan’s implementation and effectiveness?

Answer 1

Answer:

There are several key performance indicators (KPIs) that you should measure in order to determine if the marketing strategy was successful or not:

• incremental sales: your new marketing strategy increased total sales by
• return on investment: how much did your sales revenue increased since you launched the new strategy
• cost per win: how much did each extra sale cost your company
• cost per lead: how much did each extra lead cost your company (similar to the above, but not every lead ends up in a successful sale)
• conversion rate: how many leads turned into actual sales
• customer lifetime value: was there an increase in the customer value (average sale per customer x number of yearly sales per customer)
• and others more specific to each industry

Explanation: