Assessing the relationships between qualitative, quantitative and efficiency metrics can help growth

New Ideas in MarketingEssential news for marketers, summarised by YouGov
May 11, 2020, 6:47 PM UTC

It can help brands drive better customer experience and empower teams in the process.

This piece argues it is essential for businesses not to prioritise a single metric and look at various metrics to identify areas of improvement. The three crucial sets of metrics that need to be looked at are; quantity metrics to determine revenue, quality metrics to assess the customer experience and efficiency metrics to determine ROI.

Depending upon their requirements, marketers should focus on a particular metric and marking the others as thresholds. Regularly reassessing the relationship between quantity, quality, and efficiency can help organisations better understand their business.

Balancing the three metrics can also help brands recognise and include the whole organisation in the process. Appropriate metrics can also help teams understand how their work positively impacts the business.

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[6 minute read]