From the course: CMO Foundations: Measuring Marketing Effectiveness (ROI)

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Measuring product and service performance

Measuring product and service performance

From the course: CMO Foundations: Measuring Marketing Effectiveness (ROI)

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Measuring product and service performance

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- As a chief marketing officer, you should think of yourself as an investment manager overseeing a mutual fund. Hey, think about it. A mutual fund is a bundle of individual stocks that have to perform to certain expectations. Your portfolio is a bundle of individual products and services that also must perform to certain expectations. So, you have two key metrics here. First, do you have the right portfolio? And second, are the individual components meeting expectations? Let's start with the second question. Think of your individual products and services as having a specific role to play. They either lead the charge in acquisition of new customers, or they're primarily about the retention of existing customers. Let's look at Apple, for example. It has a great portfolio because of how well the components work together. Apple acquires new customers into the brand primarily with the iPhone. It retains customers with…

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