Create a Measurement Plan – Module 4

For the sake of this post, we will again narrow the scope to a singular GMI brand (Larabar), and create a measurement plan to gauge the success of a new line of product known as Larabar Uber.

   

   1.     Define the goal

a.     Our goal with the Larabar Uber website is to “increase sales of the product by 25% by the end of FY 2013.”

b.     Define Success

                                               i.     Here, success would be defined as an increase in sales of the Uber line of product – increasing the overall market share of the product in the “health food bar segment.”

1.     We can measure our drive toward “success” by utilizing analytics tools, and measuring sales of the product through larabar.com. Additionally, we could track other offline data like sales at Wal-Mart or Target. Finally, we could measure metrics like unique visitors to the Larabar Uber pages, or see if one flavors page is frequented more than another.

   2.     Identify Publics

                                               i.      Some of our potential publics for Larabar Uber might be:

1.     Current Larabar Original buyers.

2.      Health conscious consumers

3.     Those on a special diet (i.e. Gluten-free, vegan, etc.)

   3.     Define Benchmarks

a.     GMI could establish sales and market share benchmarks to achieve this goal, such as:

                                               i.     Denote every 5% sales increase

                                              ii.     Denote every new retailer that agrees to carry the product.

                                            iii.     Denote increased unique visitors to the larabar.com store.

   4.     Determine KPI’s

a.     There are several KPI’s that GMI might consider here, including:

                                               i.     Tracking overall sales of Larabar Uber

                                              ii.     % Increase in checkout rate at the larabar.com store.

                                            iii.     % Increase in CV rates.

   5.     Select a Tool

a.     I imagine we would use Adobe SiteCatalyst to analyze these metrics, along with data from both SAP and other tools.

Overall, I think this would help formulate an effective foundation for increases in both the general public awareness – and subsequently, the sales – of Larabar Uber. By combining both our online and offline data, we can develop a complete picture of our target audience(s), and ensure that Larabar Uber is a major success for GMI.