I haven’t written about ROS (return on strategy) for a while but on the heels of my empanelment at OMMA Performance this week I’ve given it some more thought. One of the good things heard discussed at OMMA was the metric “intent to purchase.” As one person said, however, I may walk around the Jaguar dealership with an intent to purchase, but without consummation (check writing) it doesn’t makes the commerce world go round.
Another important metric discussed was the Net Promoter Score – scoring one consumer’s willingness to recommend a product. These two metrics are moving in the right direction and are good dashboard measures. Time on site, bounce rate, “like,” page views, are nice directional metrics but can’t always be attributed to a sale. The quants may disagree.
If you can’t create a value for an action, how are you going to create a value for a strategy? The strategy for a billion dollar health system was built upon the following brand planks: leading edge treatments and technology, information and resource sharing, and community integration. Combined, these 3 consumer care-abouts were projected as the business-winning marketing strategy. How do you measure the effectiveness of that strategy? Consumer attitude studies tying the brand plank metrics to KPIs such as beds filled, procedures completed, re-admits, profitability are certainly doable. But how might one measure the strategy effectiveness using the web? Thoughts? Einsteins?