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SigmaWay Blog

SigmaWay Blog tries to aggregate original and third party content for the site users. It caters to articles on Process Improvement, Lean Six Sigma, Analytics, Market Intelligence, Training ,IT Services and industries which SigmaWay caters to

Measuring Right Things With Big Data

Maximizing ROI has become the ultimate goal for Marketers. Increasing visibility, likes, followers and tweets seems to be the major indicators. Daniel Newman, author of The Millennial CEO and a Forbes contributor, in an article in Forbes term these indicators as vanity metrics which distract marketers from the actual story. Rather than measuring likes, focus should be on how many of the likes were converted into new customer and other measures which go beyond customer acquisition and sales that will help discern their real growth story. 

He lists out 7 things that marketers should measure: 

• Top of funnel conversions

• Engagement

• Customer satisfaction

• Customer Retention 

• Employee satisfaction 

• Employee retention 

• Attributable Revenue

For more on this, follow the link http://www.forbes.com/sites/danielnewman/2015/05/12/7-things-marketers-should-measure-big-data-can-help/

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Measuring Social Media ROI

Every company needs to stand out from other companies. So, measuring ROI in social media becomes a necessity. Measuring social media ROI depends on what your company goals are. A smaller company may want to track their measurements monthly, whereas a larger organization will want to track measurements on a daily basis. To know how to measure social ROI, follow Dawn Ellis (Content Outreach Executive, alldayPA), article link: http://www.socialmediatoday.com/content/ultimate-guide-determining-roi-your-social-media-campaigns

 

 

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Building Customer Loyalty: Some Tips

Customer loyalty is very important for any organization. Organizations must focus on how to build customer relationship and create customer loyalty. Chris X. Moloney (Director of Market Development and Strategy for Maritz Loyalty Marketing) writes about some tips on how to build customer loyalty and improve customer retention. They are: 1. Forget Price, Quality and Service Levels. 2. Satisfaction does not equal Loyalty. 3. Know your Best Customers. 4.  Treat Different Customers Differently.5. Understand and Use Marketing ROI. To know more details about these tips, follow: http://www.customerfocusconsult.com/articles/articles_template.asp?ID=19#.VB-mgZSSyJI

 

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