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Set Your Sites on Success with New eMarketing Metrics
BY Doug Cogswell, President & CEO
Advizor Solutions( formerly Visual Insights)
January 21, 2002
The single biggest pitfall facing most business managers and marketers today is the lack of universal eBusiness metrics to gauge success and justify online investments. To successfully measure Web-based ROI, companies must apply the principles of eBusiness Performance Management (eBPM). Simply put, eBPM means aligning Web performance with overall business objectives.
Here are five easy steps to engage eBPM for your business:
1. Start with Strategy
Know the top-level goals of your company inside and out and apply these to your eBusiness strategy. For example, these might include driving the cost of sales down, increasing brand awareness, growing revenues or improving customer satisfaction ratings.
2. See Success
Envision up front how your Web initiatives can support your overall business objectives. Who is the target of your next eBusiness campaign? Who will it serve? Who do you expect to sell to? If your eMarketing program were an offline initiative instead, how would you measure it?
3. Measure Early and Often
Throughout the program, even hours after launch, it is important to assess results, even preliminary, so that execution can be fine-tuned throughout a campaign. Understanding results is not a "post mortem" task.
4. Design and Plan
Plan for how your vast data reserves not only will be mined and stored, but how the company's key decision-makers can readily leverage data from disparate sources - e.g., customer databases used by sales and service, sales transaction records stored in the corporate mainframe, etc. - to complement your Web-based initiatives.
5. Make it Real
Share results - both successes and failures. eBusiness stakeholders - executives, line of business management, and others - must have access to critical information so that timely and accurate decisions can be made. Killing an unsuccessful Web-based program early can still be considered a "win.
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