Understanding your customer leads to more effective programming.
Marketing strategy should be built around the customer – with products or services that address a specific need, or set of needs. Essential to the success of a marketing strategy are insights into how customers perceive this need, how and when they will make a purchase decision, and at what price point and with what incentives. It is also important to understand the post-sale relationship with the customer in order to earn on-going loyalty and additional business in the future. A Customer Insight and Measurement plan, in concert with other tactics, serves to guide a marketing organization towards successful execution of the marketing strategy.
MarketSphere partners with our clients to develop the required processes and acquire the supporting technologies to gather, store and use customer and marketing campaign data. Through the data, and using business intelligence applications like Oracle Hyperion, marketers can answer the questions that lead to a deeper understanding of customer behavior. With the insights generated from the data, marketers can develop highly targeted marketing campaigns across multiple channels of communication, to drive customer behavior.
Equally important is measurement of marketing programs, to ensure the right resources are applied to the right opportunities. MarketSphere helps our clients design and adopt a measurement mindset with which to better understand the effectiveness of marketing programs. MarketSphere promotes a “marketing return on investment" (mROI) approach to measuring marketing effectiveness, along with the traditional financial and customer measures.
MarketSphere sponsored the 2009 Marketing ROI and Measurement Study conducted by Lenskold Group.
To learn more about how companies of all sizes employ measurement and metrics in marketing, contact us today!
