Strategic Methods for Measuring Marketing Performance of Companies in the Republic of Macedonia

At Google, there is a saying that is frequently used: "Data beats opinion." In practice, this means that for any activity, we first determine our key success metrics and then measure how we are doing against them on a regular basis. This allows us to optimize and expand those programs that are working, while shutting down those that are not. In today's hyper-competitive business landscape, most marketers are compelled to take this approach versus relying on conventional wisdom, rules of thumb, or intuition that may have been sufficient in the past. The challenge, of course, is knowing what to measure and exactly how to measure it. This is where marketing metrics comes in. It is the most comprehensive and authoritative guide to defining, constructing, and using the metrics every marketer needs today. Perhaps the most pressing question in marketing today is not simply how to measure any single outcome, but understanding how all the various metrics interconnect - and the resulting financial consequences of your marketing decisions. For this reason companies need strategic methods and tools that help them put all the required metrics and build a signalling device that gives the proper information about the effectiveness of the marketing activities that were conducted in the company. This paper focuses on those strategic methods with special attention to the use of marketing dashboards, a method that is frequently used abroad but also in some of the companies in Macedonia. In order to determine the use of such methods in our country a research will be conducted on a sample of companies.