Key performance indicators as a basic element for a marketing efficiency measurement

Abstract

In today’s highly competitive environment it is not easy to acquire and retain customers. In or-der to develop business it is necessary to closely monitor the needs of the customers and offer them prod-ucts and services of high quality. The process of improvement of business performance also requires pro-viding the highest added value to the customers. Businesses are not able to follow their own visions without a clearly articulated strategy. Key Performance Indicators (KPIs) are an essential element for measuring performance to help organizations in achieving their objectives. Nowadays, many processes may be used measuring the efficiency of any business. It is need to improve the performance of estab-lished processes and achieve the set goals. Therefore it is good to monitoring the actual indicator values and compares them with established values. Individual KPIs are clearly anchored in the procedural struc-ture of the organization. KPIs usually progress from top to bottom – from strategic business objectives to the operational objectives of the individual processes. The goal of this article is to assess the possibilities and benefits of using KPIs for measuring marketing effectiveness. The primary objective of this paper is based on a case study and is dedicated to determine the possibilities of using existing theory regarding KPIs in process of evaluation of efficiency of marketing activity.