Create a Measurement Plan

My particular task for this blog is to select a company and develop measurement for how effective their online marketing strategies are. For this activity I will choose Procter & Gamble (P&G) as my company. I utilize the following steps as the basis for my plan:

Step 1: What is the Goal?

For P&G I would say the primary goal would be to establish a better relationship with new customers and strengthen the existing ones. Interacting with consumers via websites like Twitter and Facebook, would allow P&G the ability to gain real-time opinions from supporters and criticizers of P&G products. If P&G is able to better engage with its customers, the more effectively they can adjust their products to the customers’ needs.

Step 2: Identify the audience.

For P&G the audience would be anyone who purchases household products. The age group could anyone from college student to senior citizen. If they wanted to, P&G could narrow it down to a demographic group that occupies a large percentage of their customer base, such as housewives or mothers.

Step 3: What are the benchmarks?

P&G could monitor the types and number of conversations that reference P&G products. It is important for P&G to establish a starting point from which it can measure. Once the benchmark is established, P&G can implement a marketing strategy. From there, P&G would be able to see if the percentages increased and what percentage was related to positive feedback. Even negative feedback can provide P&G with valuable information about where improvements need to be made.

Step 4: What are the KPIs?

When considering KPIs for P&G, the results based off website data is not necessarily going to be tied to online purchases. One of the KPIs would the number of followers on social media sites like Facebook and Twitter. Other KPIs would include a percentage increase in click-throughs or a percentage increase in registration for product information.

Step 5: Select a tool.

P&G could choose between two tools, surveys and content analysis. Surveys are an inexpensive way to measure the type a relationship and reputation P&G has out in the marketplace. If a more detailed perspective of is desired, P&G could opt for conducting a content analysis. Thanks to social media people from around the world can interact as one giant focus group. P&G could use a content analysis to listen real-time opinions and gain a better understanding how consumers are responding to its business initiatives.

Reference: http://www.facebook.com/proctergamble; http://twitter.com/ProcterGamble/; http://www.youtube.com/user/ProcterGamble/custom.