Practicum (498-0-20)

Topic

Marketing Metrics

Instructors

Roy Wollen

Meeting Info

McCormick Foundation Ctr 3119: Thurs 6:00PM - 8:50PM

Overview of class

Marketing Metrics are an essential part of Integrated Marketing Communications (IMC). They are a feedback loop on Marketing strategies and investments. They are also at the heart of what it means to be data-driven, especially when it comes to audiences, user experiences and media; any moment where a brand touches a customer.

Part one of the course establishes the metrics needed to evaluate Marketing as a function of a firm. These skills are essential for budgeting, estimating Return on Marketing Investment (ROMI), setting pricing strategy, making channel decisions etc. Being able to prioritize the metrics of a firm and communicate how Marketing adds value is critical to being an effective Marketing leader.

Part two of the course explores metrics as a way to optimizing Marketing Communications. As a foundation, students will understand the types of data needed to measure customer loyalty, predict customer value and manage the owned, earned and paid media that reaches them. Students are expected to analyze marketing campaign results, as well as communicate their findings as it relates to business outcomes, whether over email, in a presentation or visualizing metrics in a dashboard.

Finally, part three of the course is about the metrics needed to support Marketing as a science. Topics covered extend the knowledge of experimentation with the goal of being able to establish a Center of Excellence (COE) around innovation and testing. Students will be expected to apply these learnings as they optimize Marketing plans and measure results against them.

Class sessions will consist of readings, online discussions and active learning. Homework assignments are meant to reinforce the topics and show students how to use Marketing Metrics to grow as leaders.

Enrollment Requirements

Enrollment Requirements: Registration is reserved for IMC Full-Time Students only.