Review of Marketing Performance in Marketing Plan Template

Review of Marketing Performance

Why you need to review your Marketing Performance? There is a saying, ‘”IF YOU CAN’T MEASURE IT, YOU CANNOT MANAGE IT”. What it implied is that you need to measure every Key Performance Indicators that you wish to manage. In this Marketing Plan Template, it is essential that you include a template that can allow you to track and review the Marketing Performance with the appropriate establishment of the key performance indicators ( KPI ) for all important Strategies or Key Action Plans.

Frequency of Marketing Performance Reviews

By tracking, it can allow you to know the progress and hence for part of the critical review of the Marketing Performance. The frequency of the review should be often enough to alert any out of control situation. But then the frequency should vary from type of marketing performance. The key is to enable you to have an early warning sign. In any case, you should be at review the Marketing Performance or part of least once a month. And it should coincides with a monthly performance review for the rest of the operation in your business.

In the business environment total, there are tons of things for leaders to deal with. Some company perform their review of Marketing Performance in a informal manner, meaning mere get some update of some numbers from their respective Marketing personnel. For some well organized business, the leaders will conduct the review in a formal way. Firstly, the schedule of review is planned ahead, secondly, the agenda for the review is prefixed and lastly, the agenda for the review is also fixed.

Take action on out of track Marketing Performance

When you conduct the review session, it is important to keep to the time schedule and agenda. Quite often, I have seen personnel went out of topic when come to certain discussion of non performing issues and left not enough time to review the rest of the items in the agenda. Then it ended up an incomplete review of the Marketing Performance. This is more so if the Marketing Performance is out of track.

Since you are reviewing the marketing performance in your marketing plan, you need to do such as way that you can act on it for recovery in the event any key performance indicators are not meeting expectations. Therefore, the selection of key performance indicators play an important role in this aspect. In order to help in your selection, you need to appreciate the concept of a Balanced Scorecard developed by Dr. Kaplan and Dr. Norton. In their teaching, there is a concept called the Lead and Lag Indicators.

In conclusion, the key to Marketing Performance is Track and Act

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