Few marketers recognize the extraordinary range of metrics now available for evaluating their strategies and tactics. In Marketing Metrics, four leading researchers and consultants systematically introduce today's most powerful marketing metrics. The authors show how to use a "dashboard" of metrics to view market dynamics from various perspectives, maximize accuracy, and "triangulate" to optimal solutions. Their comprehensive coverage includes measurements of promotional strategy, advertising, and distribution; customer perceptions; market share; competitors' power; margins and profits; products and portfolios; customer profitability; sales forces and channels; pricing strategies; and more. You'll learn how and when to apply each metric, and understand tradeoffs and nuances that are critical to using them successfully. The authors also demonstrate how to use marketing metrics as leading indicators, identifying crucial new opportunities and challenges. For clarity and simplicity all calculations can be performed by hand, or with basic spreadsheet techniques. In coming years, few marketers will rise to senior executive levels without deep fluency in marketing metrics. This book is the fastest, easiest way to gain that fluency.
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Book Description
Editorial Reviews
Review
"In a category that suffers from a surfeit of books related to personal experiences, one-off success stories made possible by budgets and resources unavailable to most firms, outdated theories as quaint as bloodletting, or mantras devoted to 'big ideas' or 'exceeding expectations,' 50+ metrics crackles like new money. For CEOs and those in marketing trenches needing accountability, this is the best marketing book of the year." -- Nick Wreden, Strategy + Business
From the Back Cover
Few marketers recognize the extraordinary range of metrics now available for evaluating their strategies and tactics. In Marketing Metrics, four leading researchers and consultants systematically introduce today's most powerful marketing metrics. The authors show how to use a "dashboard" of metrics to view market dynamics from various perspectives, maximize accuracy, and "triangulate" to optimal solutions. Their comprehensive coverage includes measurements of promotional strategy, advertising, and distribution; customer perceptions; market share; competitors' power; margins and profits; products and portfolios; customer profitability; sales forces and channels; pricing strategies; and more. You'll learn how and when to apply each metric, and understand tradeoffs and nuances that are critical to using them successfully. The authors also demonstrate how to use marketing metrics as leading indicators, identifying crucial new opportunities and challenges. For clarity and simplicity all calculations can be performed by hand, or with basic spreadsheet techniques. In coming years, few marketers will rise to senior executive levels without deep fluency in marketing metrics. This book is the fastest, easiest way to gain that fluency.
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Customer Reviews
Most Helpful Customer Reviews
26 of 27 people found the following review helpful
Obviously, it is highly desirable to measure what matters and that is especially true of marketing initiatives. Here's the challenge which many (most?) readers will face after they finish reading this volume: Which metrics are the most appropriate for their specific organization? Co-authors Paul W. Farris, Neil T. Bendle, Phillip E. Pfeifer, and David J. Reibstein offer 50+ and in an ideal business world, every executive can - and will - master all of them. That is possible but highly unlikely. Fortunately, the authors offer a wealth of information and observations that can guide and inform the selection of those metrics that will enable executives to "gather and analyze basic market data, measure the core factors that drive their business models, analyze the profitability of individual customer accounts, and optimize resource allocation among increasingly fragmented media.
To the authors' substantial credit, they make effective use of a number of reader-friendly devices which enliven what would be an otherwise dull textbook and they do without compromising the integrity of research-driven insights which so many books on marketing lack. These devices include definitions, formulas, and brief descriptions of various metrics. They also include within individual chapters several sections, such as "Construction" (e.g. metrics issues concerning their formulation, application, interpretation, and strategic ramifications), "Data Sources, "Complications, and Cautions" (i.e. an analysis of the limitations of the metrics under consideration, and their potential inadequacies once executed), and "Related Metrics and Concepts" (briefly surveyed). This is by no means an "easy read" but will generously reward those who absorb and digest its material with appropriate rigor.
Although I believe this volume can be of substantial value to executives in almost all organizations (regardless of size or nature), I think it will be of greatest benefit to those - probably in larger companies -- who have an urgent need for accurate and consistent measurement of, for example, the dynamics behind their market share; the profitability of producing, pricing, selling, distributing, and servicing what they offer; and the ROI of marketing initiatives within the framework of enterprise financial metrics.
Those who share my high regard for this volume are urged to check out Enterprise Architecture As Strategy: Creating a Foundation for Business Execution by Jeanne W. Ross, Peter Weill, and David Robertson as well as Ram Charan's Know-How: The 8 Skills That Separate People Who Perform from Those Who Don't, Lynda Gratton's Hot Spots: Why Some Teams, Workplaces, and Organizations Buzz with Energy - And Others Don't, Robert J. Herbold's Seduced by Success: How the Best Companies Survive the 9 Traps of Winning, Jack Alexander's Performance Dashboards and Analysis for Value Creation, and Michael Useem's The Go Point: When It's Time to Decide--Knowing What to Do and When to Do It.
To the authors' substantial credit, they make effective use of a number of reader-friendly devices which enliven what would be an otherwise dull textbook and they do without compromising the integrity of research-driven insights which so many books on marketing lack. These devices include definitions, formulas, and brief descriptions of various metrics. They also include within individual chapters several sections, such as "Construction" (e.g. metrics issues concerning their formulation, application, interpretation, and strategic ramifications), "Data Sources, "Complications, and Cautions" (i.e. an analysis of the limitations of the metrics under consideration, and their potential inadequacies once executed), and "Related Metrics and Concepts" (briefly surveyed). This is by no means an "easy read" but will generously reward those who absorb and digest its material with appropriate rigor.
Although I believe this volume can be of substantial value to executives in almost all organizations (regardless of size or nature), I think it will be of greatest benefit to those - probably in larger companies -- who have an urgent need for accurate and consistent measurement of, for example, the dynamics behind their market share; the profitability of producing, pricing, selling, distributing, and servicing what they offer; and the ROI of marketing initiatives within the framework of enterprise financial metrics.
Those who share my high regard for this volume are urged to check out Enterprise Architecture As Strategy: Creating a Foundation for Business Execution by Jeanne W. Ross, Peter Weill, and David Robertson as well as Ram Charan's Know-How: The 8 Skills That Separate People Who Perform from Those Who Don't, Lynda Gratton's Hot Spots: Why Some Teams, Workplaces, and Organizations Buzz with Energy - And Others Don't, Robert J. Herbold's Seduced by Success: How the Best Companies Survive the 9 Traps of Winning, Jack Alexander's Performance Dashboards and Analysis for Value Creation, and Michael Useem's The Go Point: When It's Time to Decide--Knowing What to Do and When to Do It.
17 of 18 people found the following review helpful
Every executive who is responsible for the way their company competes should study the metrics in this book
July 25, 2006
Personally, I love these kinds of handbooks. Having a ready resource for these dozens of metrics can help any executive understand their business and think about ways to compete in the marketplace in new ways. Too often marketing is thought of in terms of advertising and sales, but it is so much more than that. Marketing is everything your company does or needs to do to choosing a marketplace, the products to compete with, how to promote and sell them, and how to better understand your market, your competition, and how it is changing over time.
This excellent book has eleven chapters. The first provides an introduction to the book, its layout and purpose. The last chapter takes you through what the authors call the marketing x-ray. It explains the practical aspects of the ratios provided and how they can reveal things about apparently healthy companies that can help you make changes before it is too late, just as an x-ray can alert you to a health problem before things become dire.
The other nine chapters take the reader through various business ratios for measuring your share of the hears, minds, and markets of your customers, margins and profits, product and portfolio management, customer profitability, sales force and channel management, pricing strategy, promotion, advertising media and web metrics, and marketing and finance.
What is good about working through these metrics is that you will be asking yourself questions that you need to ask. Even if the metric doesn't apply to your specific situation, finding out that it doesn't will help you think more clearly about your situation. You may find that some of them will help you think through things that are important to your business with a new perspective. Some of the data for the metrics is hard to come by, and thinking that through will help you think about your business in a more focused way because your assumptions will have to be more explicitly made rather than the kind of vague impressions we too often let suffice for thinking about our business.
This book is an excellent resource and all executives responsible for the way their business competes in the marketplace should have this book. I believe there are also seminars being offered that teach the metrics on this book. While I have no idea of their quality, they do sound interesting for the right audience.
This excellent book has eleven chapters. The first provides an introduction to the book, its layout and purpose. The last chapter takes you through what the authors call the marketing x-ray. It explains the practical aspects of the ratios provided and how they can reveal things about apparently healthy companies that can help you make changes before it is too late, just as an x-ray can alert you to a health problem before things become dire.
The other nine chapters take the reader through various business ratios for measuring your share of the hears, minds, and markets of your customers, margins and profits, product and portfolio management, customer profitability, sales force and channel management, pricing strategy, promotion, advertising media and web metrics, and marketing and finance.
What is good about working through these metrics is that you will be asking yourself questions that you need to ask. Even if the metric doesn't apply to your specific situation, finding out that it doesn't will help you think more clearly about your situation. You may find that some of them will help you think through things that are important to your business with a new perspective. Some of the data for the metrics is hard to come by, and thinking that through will help you think about your business in a more focused way because your assumptions will have to be more explicitly made rather than the kind of vague impressions we too often let suffice for thinking about our business.
This book is an excellent resource and all executives responsible for the way their business competes in the marketplace should have this book. I believe there are also seminars being offered that teach the metrics on this book. While I have no idea of their quality, they do sound interesting for the right audience.
18 of 20 people found the following review helpful
As the former chief marketing officer of a major engineering services firm (0ver 3,000 employees), I wish I could have had the benefit of having read Marketing Metrics -- first.
My strategic marketing group was more anecdotal than strategic. While they did the best that they could with the resources they had, anecdotal data is just that.
The principles found in Chapter 5, "Customer Profitability," could have enabled the strategic marketing group to more accurately measure our effectiveness in delivering value-added services to our many customers. Other sections of the book, particularly Chapter 6, could have had equal applicability in other facets of our analytical work.
With the material found in this book, our strategic future in a fast changing marketplace could have been plotted with far greater discipline.
The book would have made my strategic marketing group truly strategic.
In conclusion, I believe that the detailed, yet easy to read, Marketing Metrics is as applicable (and necessary) in a service industry as it is in a product environment.
My strategic marketing group was more anecdotal than strategic. While they did the best that they could with the resources they had, anecdotal data is just that.
The principles found in Chapter 5, "Customer Profitability," could have enabled the strategic marketing group to more accurately measure our effectiveness in delivering value-added services to our many customers. Other sections of the book, particularly Chapter 6, could have had equal applicability in other facets of our analytical work.
With the material found in this book, our strategic future in a fast changing marketplace could have been plotted with far greater discipline.
The book would have made my strategic marketing group truly strategic.
In conclusion, I believe that the detailed, yet easy to read, Marketing Metrics is as applicable (and necessary) in a service industry as it is in a product environment.
Most Recent Customer Reviews
VERY COMPLETE
This is a very complete book on Marketing Metrics. You need to know many marketing concepts from Business, Finance, Operations and other areas. Read more
Published 3 months ago by JOSE LUIS
INFORMATIVE, but a little technical for lay readers
The book was definitely worth buying, and I recommend it, but with the caveat that having some kind marketing background--even an introductory college course--is a tremendous... Read more
Published 15 months ago by RobinJ
Must-have Book
As per the in-depth reviews shown below, I rate this book as simply outstanding. Not to repeat what has been written, I must say that anyone who deals with marketing-related... Read more
Published 16 months ago by Randall Ponder
Essential Reading for Entrepreneurs, Sales, and Consulting...
Whether you have an idea for the next blockbuster widget, or you consider your own personal knowledge and experience a "product" to be sold (for hefty profits), you will have to... Read more
Published 18 months ago by Rob Ryley
This book saved my confidence!
Marketing Metrics is great! I struggled with some reports at work and couldn't always remember formulas or ways to "think" like a Marketer with such a demanding job. Read more
Published on January 13, 2010 by M. Daria
A great catalog of Metrics
One of the problems with Marketing is that it typically has not spent any real time looking at measuring its successes, performance, etc. Read more
Published on August 21, 2009 by Brian K. Seitz
This will become part of your 'core' collection
Covers all the fundamentals.great tips on when to use, how to use and when not use. Also provides good tips on dealing with data issues and impact of assumptions and estimations on... Read more
Published on May 7, 2009 by LoreDog
Should be required for all MBA programs.
This is a great book. I bought it AFTER I finished my MBA program. I've now read most of it, and I only wish that I would have had it before I started on my MBA. Read more
Published on December 12, 2008 by Rick Wingender
ok
While most of these metrics are true, they are not always relevant. I guess if you use it as a reference, this is a good book and will do fine. Read more
Published on April 26, 2008 by SDB
Good Primer for Marketing People
This is a good fundamental description of different marketing measurments. These metrics used to be taught to people in the business as they worked their way up the ranks. Read more
Published on October 10, 2007 by Mark J. Scott
Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
Inside This Book
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Key Phrases - Statistically Improbable Phrases (SIPs):
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incremental sales, customer profitability, unit margin, trial population, gross rating points, trial rate, customer margin, customer lifetime value, repeat buyers, frequency response function, brand penetration, direct product costs, target volume, marketing investment, consumer promotion, active account, target revenue, abandonment rate, average inventory, effective reach, last channel, ending value, heavy usage index, prospect lifetime value, price per statistical unit Key Phrases - Capitalized Phrases (CAPs): (learn more)
Data Sources, Metric Construction Considerations Purpose, Selling Price, Pricing Strategy, Share of Hearts, Big Block, Prestige Luggage, Retention Rate, Share of Requirements, Total Sales, Average Frequency, Repeat Rate, Percentage Unit Sales, Introduction Metrics, Net Profit, Break-Even Volume, Thousand Impressions, Advertising Cost, Marketing Plan, New York, First-time Triers, Target Population, Aircraft International, Total Population, Sales Goal New!
Concordance | Text Stats Browse Sample Pages:
Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
incremental sales, customer profitability, unit margin, trial population, gross rating points, trial rate, customer margin, customer lifetime value, repeat buyers, frequency response function, brand penetration, direct product costs, target volume, marketing investment, consumer promotion, active account, target revenue, abandonment rate, average inventory, effective reach, last channel, ending value, heavy usage index, prospect lifetime value, price per statistical unit Key Phrases - Capitalized Phrases (CAPs): (learn more)
Data Sources, Metric Construction Considerations Purpose, Selling Price, Pricing Strategy, Share of Hearts, Big Block, Prestige Luggage, Retention Rate, Share of Requirements, Total Sales, Average Frequency, Repeat Rate, Percentage Unit Sales, Introduction Metrics, Net Profit, Break-Even Volume, Thousand Impressions, Advertising Cost, Marketing Plan, New York, First-time Triers, Target Population, Aircraft International, Total Population, Sales Goal New!
Concordance | Text Stats Browse Sample Pages:
Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
Citations (learn more)
This book cites 23
books:
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- Management Science by Laurence Moore on page 154, Back Matter (1), and Back Matter (2)
- Power Pricing: How Managing Price Transforms the Bottom Line by Robert J. Dolan on page 238, Back Matter (1), and Back Matter (2)
- Building Strong Brands by David A. Aaker on page 127, and Back Matter
- Marketing Research by Donald R. Lehmann on page 261, and Back Matter
- Managing Brand Equity by David A. Aaker on page 127, and Back Matter
See all 23 books this book cites
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