AlphaRainbow structures the marketing process in 4 logical steps:
- Gather insights
- Determine destination
- Take action
- monitor progress.
After you have completed the first 3 steps of the AlphaBeta™ method, you are ready to monitor progress. You can do this using a dashboard.
Few activities go exactly as planned. If you do not track and monitor your plans and activities, you will be unable to make timely adjustments in the event of insufficient progress. It is also important that you monitor whether your activities are yielding the right results. This will allow your organisation to learn, adjust and continuously improve.
Many businesses adhere only loosely to their project plans, while neglecting to monitor progress. As a result, vital adjustments or interventions are passed over, costs go up and projects or activities sometimes even fail completely. This is why at Alpha Rainbow we believe constant monitoring and adjustment are essential to the success of every business.
At AlphaRainbow, we’re firm believers in setting up a dashboard with a number of different indicators.
The Leading Indicators: These are the input-oriented indicators or drivers of results, otherwise known as actions. For example: How many visits are being made, how many Facebook likes are you getting, how many new products have you introduced, or do you plan to introduce, which actions have been implemented, or how many training sessions have you conducted. You can control these indicators.
The Lagging Indicators: These are the output-oriented indicators or results of your activities. For example: your revenue, sales, market shares, costs. You can’t influence these directly, but it is important to keep an eye on them. They are like your rear-view mirror.
Keeping close tabs on progress and the results gives you the possibility to make adjustments and realise improvements. This will place you firmly at the wheel of your marketing activities. You will enjoy the full benefit of a marketing-oriented business approach, while achieving more than ever.