Marketing KPIs

The organization’s marketing strategy is primarily based on digital marketing strategies
around mobile banking and social media marketing. The organization will monitor digital
marketing Return on Investment (ROI) to assess effectiveness. Digital marketing ROI evaluates
the monetary benefits or losses for the investment in digital marketing strategies (Saura et
al.,2017). While social media ads may be relatively easy to develop, there may be costs incurred
in designing and promoting the ads on social media platforms. This KPI can be measured over a
span that can be monthly, quarterly, or annually, depending on the frequency with which the
organization invests in social media marketing. The ROI is computed as:
Digital marketing ROI = (Sales growth – marketing investment)/ Marketing investment.
Another KPI for monitoring is the lead-to-customer ratio. This ratio encompasses all the
organization’s marketing activities to determine its effectiveness in generating leads. The parks
would have to monitor both sales qualified leads and sales accepted leads in determining this
ratio. This KPI would help the organization determine if marketing activities capture leads and
how successful the parks are in closing potential leads.
Feedback loops

3

Collect
information

Analyze

Change

Test

The feedback loop above can be implemented to monitor the efficacy of marketing
activities and KPIs. Feedback loops become functional when information is flowing between
nodes in the loop. Feedback loops are essential in monitoring and controlling business processes.
Marketing activities have financial implications, and as such, organizations need to evaluate their
effectiveness over time. The first process is collecting information from the performance of KPIs
done by the marketing staff. This information can be qualitative or quantitative, as in the case of
marketing ROI, and lead to customer ratio.
The next step is to analyze the data collected. This process can involve both the
marketing team and other team leaders. Suppose the information collected shows that there is a
slow lead to conversion ratio or a negative marketing ROI for the organization. In that case, the
team can develop modalities of changing the strategies. The results should be reported in
periodic meetings, where the reporting team should create presentations to deliver quality
information to critical stakeholders. The organization may feel the need to get additional

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information by developing new KPIs. If the KPIs deliver the same negative results, it could
indicate that the strategies are not working, and a change of marketing strategy is required. A
shift in marketing strategy requires organizational planning, financial and human resource
investment, and research into the key areas that the marketing would like to focus on. As such,
the organization can conduct brand awareness research. Such analysis can be carried out on
social media and mobile platforms since they are the key marketing avenues for the firm. The
parks marketing team can design engaging content that will enable them to interact with
customers and get useful feedback for continuous improvement. Brand awareness research can
also help the organization determine customer metrics such as customer decision journey, brand
image, and brand loyalty which are crucial in converting leads (Bilgin, 2018).
The parks can use the Plan-Do-Study-Act as a means of continuous improvement. This
enables the organization to improve processes over time while monitoring the results and making
gradual changes. PSDA enables organizations to anticipate and quickly manage risks by gaining
and acting on knowledge over short time cycles. From the research, the parks marketing team
through PDSA can prioritize activities and develop and implement short-term solutions to
understand what works and what does not.

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References

Bilgin, Y. (2018). The Effect of Social Media Marketing Activities on Brand Awareness, Brand
Image And Brand Loyalty. Business & Management Studies: An International Journal,
6(1), 128–148. https://doi.org/10.15295/bmij.v6i1.229
Saura, J. R., Palos-Sánchez, P., & Cerdá Suárez, L. M. (2017). Understanding the Digital
Marketing Environment with KPIs and Web Analytics. Future Internet, 9(4), 76.
https://doi.org/10.3390/fi9040076