Introduction

Question 1

Metrics

Answer 1

a measuring system that quantifies a trend, dynamic or characteristic.

Question 2

Metrics used for

Answer 2

• It’s a system not simply a number – it carries assumptions about the nature of the phenomena, mode of data collection, and even use
• Can be a KPI (Key Performance Indicator) or a diagnostic
• Can be over time or point in time
• Can be leading indicator (antecedent of future consequences)/ lagging indicator (consequence of past causes)
• Stable metric: Getting the same solution using different metrics shows a better proof for your outcome. Other metrics can complement. Don’t base decisions on one metric outcome.

Question 3

Metrics are complex and at times difficult to measure

Answer 3

Data maybe approximate, incomplete or unavailable

Operationalising constructs

Question 4

No single metric is likely to be perfect/complete

Answer 4

• Portfolio or dashboard of metrics is recommended for reliability, validity
• Understand various perspectives to arrive at triangulated strategies and solutions

Question 5

Value of information

Answer 5

• More data or calculations don’t always help make better decisions - sometimes more data can make people more confused
• Information is only valuable if it allows us to make a better decision
• A metric value arises from its ability to improve our decisions.

Question 6

Why metrics

Answer 6

• Economic slowdown, cost consciousness, short-term orientation – more proof needed about the immediate return on marketing investments.
• Technological change: more data, in some areas better data.
• Information age – moving away from intuitive decision making to data-driven management.
• Mass media fragmentation – trust shaken in traditional marketing communication effectiveness.

Question 7

How to use metrics properly?

Answer 7

• Within their strategic context
• As related to objectives
• Not as end goals, but as sources of inspiration for decision making
• Weighted by their importance
• Acknowledging the primacy of creativity & insight

Question 8

Insight

Answer 8

• An insight is usually not obvious nor evident;
• An insight usually comes from connecting multiple findings;
• An insight often requires a leap of interpretation;
• An insight requires thinking.

Question 9

Professionalisation theory

Answer 9

not based on one outcome, but multiple. A theory in the sociology of occupations. There are special occupations in society – the professions. To reach this level, many things distinguishes them from mundane occupations (ethics code, associations, state licensing). Because of this knowledge, even occupations with a traditional small knowledge base embark on a historical quest to acquire it.

Question 10

Metrics in the strategic planning process

Answer 10

• Certain metrics inform the situation analysis and thus play an important part in defining problems/opportunities
• Setting objectives is closely linked how we measure whether we achieved them with our strategies and they play a role in setting budgets
• There are metrics that are implementation focused (whether the implementation was right)
• Post-activity evaluation is where metrics play a main role