MKTG08052 2021 Marketing Metrics

General Details

Full Title
Marketing Metrics
Transcript Title
Marketing Metrics
Code
MKTG08052
Attendance
N/A %
Subject Area
MKTG - Marketing
Department
MKTS - Marketing, Tourism & Sport
Level
08 - NFQ Level 8
Credit
05 - 05 Credits
Duration
Semester
Fee
Start Term
2021 - Full Academic Year 2021-22
End Term
9999 - The End of Time
Author(s)
Aine Doherty
Programme Membership
SG_BMARK_H08 202000 Bachelor of Business (Honours) in Marketing
Description

Measuring and evaluating marketing effectiveness has been a contentious issue for many decades; the recent widespread availability of data has led to a fundamental move away from assumptions and guessing which aspects of the marketing plan are working. Students on this module will learn about the important role of marketing accountability by exploring marketing metrics and models used to evaluate the efficiency and contribution of the marketing budget. Students will learn how to harness data for insight; to refine and optimise marketing strategies and how to improve decision making by imposing accountability into marketing planning.

The Marketing Metrics and Accountability module will equip students with skills to analyse the impact of marketing so that it may be justified to influence business decision making and future budgeting.

The module will heighten your awareness of marketing metrics and will encourage you to consider their broader meaning. A basic level of numeracy is required for this module.

Learning Outcomes

On completion of this module the learner will/should be able to;

1.

Examine the role of marketing accountability within Strategic Marketing Planning.

2.

Critically analyse the application of an evaluation framework into marketing planning.

3.

Critique appropriate marketing metrics and models to measure the efficiency and contribution of the marketing spend.

4.

Comprehend how to optimise marketing activities by using marketing metrics.

Teaching and Learning Strategies

This module is designed for blended learning. It will be assessed using 100% continuous assessment.

Module Assessment Strategies

This module is 100% continuous assessment. There are three pieces of assessment.

Individual Essay 30%

Group Case Study 50% and Presentation 20%

Repeat Assessments

Students will have an opportunity to resubmit failed elements of the continuous assessment.

Indicative Syllabus

Examine the role of accountability within Strategic Marketing Planning

  • Analyse the evolution of accountability within the marketing discipline.
  • Examine the stages in Marketing Planning.
  • Appreciate the link between business objectives and marketing objectives and how they can be integrated through marketing strategies, tactics, budgeting, KPIs and evaluation.
  • Demonstrate a critical appreciation of the concept of marketing accountability and why it is vitally important that marketers can demonstrate the effectiveness and ROI of the marketing spend.

Critically analyse the application of an evaluation framework into marketing planning

  • Examine evaluation frameworks and models with a focus on; objectives, KPIs, metrics, data collection, analysis, reporting, and decision making.
  • Examine structures to support marketing evaluation and accountability including: reporting structures, accountability and responsibility, frequency, transparency and collaborative communication.
  • Examine the influence of technology on marketing metrics.
  • Evaluate contemporary software used to assist with marketing data collection, analysis, and communication.
  • Appreciate the importance of working collaboratively with finance and other teams’ central to marketing accountability.

Critique appropriate marketing metrics and models to measure the efficiency and contribution of the marketing spend.

  • Review marketing metrics for evaluation of marketing promotion channels including (but not limited to): TV, Print, Radio, Email marketing, social media marketing, search engine optimisation, pay per click advertising, mobile marketing, ecommerce, events marketing, experiential marketing, sponsorship, affiliate, and influencer marketing.
  • Examine Share of Hearts, Minds and Market metrics including (but not limited to): Market share, loyalty, competitors, brand awareness, brand equity, price sensitivity, customer satisfaction, net promoter score and retention.
  • Investigate Marketing and Finance Metrics including (but not limited to): Return on Investment, Marketing ROI and Return on Sales.

Comprehend how to optimise marketing activities by using marketing metrics.

  • Evaluate marketing campaign data and make recommendations to optimise future activity.
  • Demonstrate the ability to communicate marketing metrics in an accessible format.

Coursework & Assessment Breakdown

Coursework & Continuous Assessment
100 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Essay Continuous Assessment Individual Project 30 % Week 6 1,2
2 Case Study Continuous Assessment Group Project 50 % End of Semester 2,3,4
3 Presentation Continuous Assessment Practical Evaluation 20 % End of Semester 2,3,4

Full Time Mode Workload


Type Location Description Hours Frequency Avg Workload
Lecture Lecture Theatre Lecture 2 Weekly 2.00
Tutorial Computer Laboratory Tutorial 1 Weekly 1.00
Independent Learning Not Specified Independent Learning 4 Weekly 4.00
Total Full Time Average Weekly Learner Contact Time 3.00 Hours

Required & Recommended Book List

Required Reading
2015-08-27 Marketing Metrics Ft Press
ISBN 0134085965 ISBN-13 9780134085968

Today's Definitive Guide to Marketing Metrics Choosing Them, Implementing Them, Applying Them New quantitative formulas, applications, and analytical techniques Best practices for measuring promos, ads, distribution, perception, market share, pricing, margins, portfolios, channels, dashboards, and more All-new chapter on leveraging today's rich online, email, and mobile metrics Expert guidance for clarifying what to measure, and testing reliability and validity Now extensively updated, this award-winning book will help you apply today's most effective metrics to all your marketing investments, get accurate answers, and use them to systematically improve ROI. You'll find practical techniques for measuring everything from brand equity to social media, market share to email performance. For each metric, the authors present real-world pros, cons, and tradeoffs--and help you understand what the numbers really mean. You'll learn how to design and interpret marketing dashboards to identify emerging opportunities and risks, and use powerful modeling techniques to optimize every decision you make. A brand-new chapter on online metrics brings desperately needed clarity to metrics such as pageviews; rich media display time and interaction rates; clickthrough rates; cost-per-click, order, and customer acquired; visits, abandonments, and bounce rates; friends, followers, supporters, and even "likes." This Third Edition adds important new coverage of topics ranging from brand valuation to neuromarketing, as well as crucial insights for selecting the right metrics, and making sure you can trust your data. www.management-by-the-numbers.com Marketing Metrics, Third Edition, is the definitive guide to today's most valuable marketing metrics. In this thoroughly updated and significantly expanded book, four leading marketing researchers show exactly how to choose the right metrics for every challenge. The authors show how to use marketing dashboards to view market dynamics from multiple perspectives, maximize accuracy, and "triangulate" to optimal solutions. You'll discover high-value metrics for virtually every facet of marketing: promotional strategy, advertising, and distribution; customer perceptions; market share; competitors' power; margins and pricing; products and portfolios; customer profitability; sales forces and channels; and more. This edition adds a rigorous and comprehensive discussion of the latest web, online, social, and email metrics, helping you navigate today's many new metrics to gain usable and trustworthy information. The authors have added new insights into measuring marketing ROI and brand equity, as well as practical advice for managing complex issues such as advertising elasticity and "double jeopardy." You'll also find updated and expanded discussions of prioritizing the right metrics for your business, and ensuring the information you capture is valid, reliable, and actionable. Choose the right metric for every marketing challenge Understand the full spectrum of marketing metrics: pros, cons, nuances, and application Gain a deep and thorough understanding of Marketing ROI (MROI) Quantify how your marketing spending actually contributes to profits Understand and apply web/online metrics far more effectively Get actionable knowledge from new web, rich media, and social metrics--including Google Analytics Measure what matters, and measure it reliably Choose the right metrics, and ensure accurate, valid data for decision-making

Required Reading
2014-01-01 Marketing Value Metrics Kogan Page Limited
ISBN 0749468971 ISBN-13 9780749468972

"The second edition of Marketing Accountability now called Marketing Value Metrics introduces and guides readers through a metrics model that shows not only how marketing systematically contributes to shareholder value but also provides a metrics-based framework for developing and implementing marketing strategies that are measurable and accountable. The key steps in the modelling process are described in detail, as are the procedures for applying it in practice. Updated throughout, this new edition also includes the latest digital and social media metrics and advice on measuring the effectiveness of multichannel strategies. Marketing Value Metrics will enable marketing executives to measure more effectively the impact of marketing activity against organizational goals, and will empower marketing teams and their managers to justify and defend their plans and strategies to their CEOs and CFOs"--

Required Reading
2017 Digital Analytics for Marketing
ISBN 1138190683 ISBN-13 9781138190689

Preface -- The evolution of digital analytics and the internet -- Search engines & the internet -- Social media history -- Digital analytics industry players -- Basic web analytics and web intelligence -- Advanced web analytics and web intelligence -- Understanding and working with third-party data -- An introduction to social media analytics -- Leveraging social media content and analytics -- Advanced text analytics & algorithms -- Geolocation analytics -- Social media actions analytics -- Social media hyperlink analytics -- Network analysis and social network mapping -- Mobile analytics -- Aligning digital media with business strategy -- Applying digital analytics to a social network

Module Resources

Non ISBN Literary Resources
Journal Resources
URL Resources
  • Hubspot Help Centre
  • Google Skillshop
  • Google Analytics Help Centre
  • Moz
  • www.mckinseyquarterly.com
  • www.hbr.com
  • Hootsuite
  • Trello
  • Asana
  • MailChimp
Other Resources
Additional Information