Effective Measure and PPT Slides
MEASURING EFFECTIVENESS
PRE-EXECUTION |
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Obj. # |
WHAT measuring |
Lab or Field |
HOW Measured |
1 |
The popularity of Starbucks products and brand awareness of the customers prior to an applied strategy and after it’s an application (25% increase in popularity and brand awareness) |
lab |
Monitoring direct and referral traffic. Every aspect of a business strategy is based on monitoring it’s existing direct customer base through website navigation and following the popularity of a newly developed customer base either by reference on the internet or offline as well. Tracking search volume data measures the volume of searches made on the internet. |
2 |
Customer response and review on the renewed product outlook based on their participation interest. (50% participation of customers and shared experiences) |
field |
Customer satisfaction (Csat) metric for individual and collective behavioural segments. Creating a scorecard with areas of quality, experience and feedback for improvement. Net Promoter Score (NPS) is good for checking customer loyalty. Linking KPIs and customer metrics with one another broadens the value of customer feedback. |
3 |
To measure the sales value of Starbucks beverages and its other products (5% of increased sales of Espresso, 1% increased sales of food items and 2% increased sales of other items combined)
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field |
Lead Conversion Rates keeps sales and marketing teams in alignment with customer demand. Certain KPIs (Key Performance Indicator) such as performing rapid analysing of sales and tracking sales growth revolves around the ability to grow revenue and track present performances against a business objective. |
4 |
Comparing and Reviewing financial targets set for a given year. Effect of the application of brand promotion through various media platforms (10% increase in profits in beverages) |
lab |
Operating Cash Flow (OFC) indicates the total amount of money generated by the brand’s daily operation as compared to the money generated after application of a new strategy. Tracking the Current Ratio (CR) will indicate the financial flow required for achieving a profitable target. |
5 |
To calculate the availability of business resources and usage of the existing resources (2% increase in availability of resources and no change in the existing ones) |
field |
Return on Investment (ROI) will calculate the amount of return against the investment made on buying resources. benefits like increased output and cost savings will be affected by ROI. dividing all the input units with the output units will indicate the productivity rate. |
6 |
To measure the performance and satisfaction of the employees in all three stages of execution. (20% increase in performance and 30% increase in work satisfaction) |
field |
Absenteeism Rate (AR) will indicate employee engagement. Turn Over Rate(TOR) will see how the retention effort works. recruiting Conversion Rate (CR) and Cost Per Hire(CPH) will analyse and find the best recruitment. Average Time-Stay (ATS) will indicate overall employee satisfaction. |
POST-EXECUTION |
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Obj. # |
WHAT measuring |
Lab or Field |
HOW Measured |
1 |
To track the popularity and basic brand awareness of Starbucks products. |
lab |
Apart from tracking website traffic and searching volume data, brand impression through social media engagement offers an increase in metrics and robust analytics tools. |
2 |
Customer response and review based on participation in Starbucks promotional workshop. |
field |
Apart from Net Promoter Score (NPS) and Customer satisfaction (Csat), Average Resolution Time (ART) helps a business to calculate the average time taken to resolve customer queries, effecting review and response accordingly. |
3 |
Measuring sales value of Starbucks beverages over other products. |
field |
Upsell-Rate (UR) and Net-New Revenue (NNR) combined, affects the sale value as much as lead conversion rates. The former defines the power to convince people to buy more than planned and the latter calculates the sales from the new customers. |
4 |
Reviewing financial targets and comparing them with the objectives of the given year. |
lab |
After direct costs have been taken into account, Gross-Profit Margin defines the money required thereafter. Measurement of financial performance is important through Operating Cash Flow and Current Ratio as mentioned above. |
5 |
To calculate the availability of resources and usage of existing one for promoting product sales. |
field |
Return On Investment (ROI) was used to measure the availability of resources. Mean Time Between Failure(MTBF), Mean Time To Failure(MTTF) and Mean Time To Repair(MTTR) were also later used for correct measurement. |
6 |
To measure overall employee satisfaction and performance in the designated fields. |
field |
Absenteeism Rate (AR) indicated employee engagement. Turn Over Rate(TOR) Cost Per Hire(CPH) will analyse and find the best recruitment along with Average Time-Stay (ATS). |