Presentation: Determining KPIs to Measure Strategy Success
Overview
You are the regional marketing director of a theme park in the southeastern United States that is part of a global brand. The chief marketing officer (CMO) of global operations has called upon you to help coordinate the marketing tasks related to rolling out an emergency response due to a recent safety and injury incident at one of the parks resulting in serious injuries to employees and customers. The parks were closed immediately following the incident to ensure safety measures for customers and employees and to deploy the needed safety measures.Now, as the theme park is all set to reopen, the CMO has called you to take a lead in planning the marketing strategy for the same. Your responsibility is to design a phased strategy for marketing and the reopening of all parks. Your strategy should address critical objectives such as maximum safety, crisis communication, customer satisfaction, and profit potential. You must coordinate marketing strategy with corporate strategy, as failure or success of the marketing strategy can have a direct impact on the brand.
A good marketing plan needs to translate into quantifiable measures. Without such quantification, a plan will often fall apart. Thus, defining objectives and respective key performance indicators (KPIs) to measure the effectiveness of the plan is essential.
Your CMO has asked you to create a strategic marketing plan and share it with other regional marketing directors, so that each theme park follows a similar strategy. Considering the different challenges in each park, the marketing objectives must be broad enough to address each park’s challenges, with minimum or no customization.
Defining the marketing objectives and relevant KPIs will help you, the other regional marketing directors, and the CMO to pre-assess the effectiveness of the plan you have proposed and to address gaps, if any.
Prompt
Create a PowerPoint presentation for the CMO and your fellow regional marketing directors in the course scenario. The goal of this presentation will be to share marketing objectives, associated success criteria, and methods to monitor and measure the results.
Specifically, you must address the following criteria:
- Identify two SMART objectives (Slides 1–2)
- Choose two of the marketing methods identified in Milestone Two (attached) and identify SMART objectives for each.
- Begin this part by restating the identified marketing strategies and then state the SMART objectives. How does each objective align with the SMART framework?
- Identify two KPIs—one for each marketing objective—to measure the success of the marketing strategies (Slides 3–4)
- What are your reasons for choosing each KPI?
- Determine two methods to monitor the results of the identified KPIs. (slides 5–6)
- Why have you chosen these methods?
- Describe the feedback loops to be implemented in this case (Slides 7-8)
- Identify the specific feedback loops you will monitor and how often.
- How should results be reported to the key stakeholders needing this information?
Guidelines for Submission
Submit a PowerPoint presentation with 8-10 slides, APA style. Use speaker notes to address critical elements of the presentation