Monitoring the success

There is a need for MM Inc to monitor the successful implementation of the project. MM
Inc has taken several steps to ensure the successful launching of Titan. MM Inc has thoroughly
evaluated the market that which it would like to launch its product. This report describes the key
performance indicators of organizational change and the need for a contingency plan in case of
deviation from the primary plan.
Key performance metrics
MM Inc intends to use both qualitative and quantitative measures. MM Inc intends to use
multiple metrics through a dashboard as recommended by (the Editorial board 2019). The
metrics also concern internal organizational measures and external ones as well. MM Inc will
consider revenue, marketing, and profitability metrics such as net profit, Return on Investment
(ROI), return on marketing investment, net marketing contribution. MM Inc will also analyze
customer engagement with digital marketing techniques. To measure web engagement, MM Inc
will focus on digital marketing strategies and thus engagement metrics such as impressions,
follower count, audience growth rate, and web analytics. The social media content creator
proposed in the previous reports will provide periodic reports on the social media engagement
metrics. The website will be equipped with a visitor counter and will provide additional metrics
such as the bounce rate, average session duration, dwell time, and scroll depth.
MM Inc will also measure customer engagement metrics such as Net Promoter Score
(NPS), customer effort score, customer satisfaction score (CSAT), and customer service
satisfaction (CSS). MM Inc will be committed to increasing customer satisfaction to maintain
revenues.

Contingency plan
The activities planned for so far are meant to ensure success in the organization’s product
development and launching plan. However, MM Inc will require a contingency plan to ensure
the continuity of critical activities and minimize the impact of the financial loss emanating from
a lack of return from continued investment in the product, activities, and the people involved in
the process. The contingency plan will be developed by relying on the data from monitoring the
key metrics. Using multiple metrics is to get comparative qualitative and quantitative data to
support decision-making, such as in contingency plans. For example, suppose the metrics show
that MM Inc’s previous marketing activities are not generating acceptable customer engagement
and reach levels. In that case, MM Inc may consider changing the communication message and
method to achieve better reach (Kunz et al., 2017marle). Suppose the metrics reveal that the
marketing activities do not generate the acceptable returns measured through marketing return on
investment. In that case, MM Inc may adjust its marketing budgets or adjust the acceptable levels
of marketing ROI (Khotimah 2015). Suppose the profitability metrics reveal that MM Inc is
netting higher revenues but making less profits. In that case, MM Inc may evaluate
administrative processes to identify the areas that cause inefficiencies responsible for reducing
profitability.
Therefore, MM Inc has to plan for a scenario where things may not always go according
to plan. Deviations may be due to the organization’s internal changes, such as financial
constraints, issues with production processes. External factors that may cause deviations are
competition, changes in customer needs, government policy, and changes in the political
environment. MM Inc may control internal factors but may not have much say over external
forces.

References

Editorial Board. (2019). Marketing Management, 1st Edition (1st ed.). Words of Wisdom, LLC.
Khotimah, K. (2015). Measurement of Return on Marketing Investment (ROMI) in
Manufacturing Companies. SSRN Electronic Journal.
https://doi.org/10.2139/ssrn.2926729
Kunz, W., Aksoy, L., Bart, Y., Heinonen, K., Kabadayi, S., Ordenes, F. V., Sigala, M., Diaz, D.,
& Theodoulidis, B. (2017). Customer engagement in a Big Data world. Journal of
Services Marketing, 31(2), 161–171. https://doi.org/10.1108/jsm-10-2016-0352