Limited Time Offer: Save 30% on PRO with code GETRESULTS »

Real-World Education for Modern Marketers

Join Over 600,000 Marketing Professionals

Start here!
N E X T
Text:  A A

The Balanced Scorecard: Prelude to a Marketing Dashboard

by Pat LaPointe  |  
March 29, 2005
  |  23,623 views

No matter how much we advocate the science of marketing, its art has not disappeared.

Take the balanced scorecard, for instance. In the tradition of marketing creativity, a graphical document—the balanced scorecard—translates marketing strategy to operational terms and sows the seeds for marketing accountability as measured and highlighted on the marketing dashboard.

Balanced scorecards, very simply, help marketers and the executives to whom they answer visualize strategic project planning.

But the scorecards don't end with their simplicity or their coordinated colors. They represent an approach to strategic management that surfaced in the early 1990s with Robert Kaplan and David Norton, the same guys who brought us Success Mapping.

Recognizing some of the weaknesses and vagueness of previous management approaches, the pair wrote a 1992 Harvard Business Review article about a format that communicates what companies measure in order to "balance" their marketing goals with broader corporate aims.


The balanced scorecard provides feedback around both business processes—from employee communications and training to launching a pilot program with print, outdoor and online advertising—and outcomes. When fully deployed, the balanced scorecard transforms strategic planning from a creative exercise into the interim tool for organizations migrating from purely intermediary metrics—brand awareness, customer satisfaction and the like—to a marketing dashboard of hard metrics like ROI.

Kaplan and Norton introduced four perspectives to include on the balanced scorecard: financial, customer, internal business processes, and learning and growth.

Whether you subscribe strictly to their outline or adapt it for your own use, the balanced scorecard suggests that you view the organization from different perspectives, developing metrics, setting goals, defining timeframes, and analyzing data relative to each. It relates corporate missions to marketing efforts—or vice versa—through a tool in which even unrelated key objectives such as brand development metrics, customer satisfaction scores and channel penetration can be plotted and tracked. This mix-and-match illustrates how individual initiatives and integrated campaigns work toward fulfilling enterprise-wide goals.


Sign up for free to read the full article.Read the Full Article

Membership is required to access the full version of this how-to marketing article ... don't worry though, it's FREE!

WANT TO READ MORE?
SIGN UP TODAY ...
IT'S FREE!

We will never sell or rent your email address to anyone. We value your privacy. (We hate spam as much as you do.) See our privacy policy.

Sign in with one of your preferred accounts below:

Loading...

Pat LaPointe is managing partner at MarketingNPV (www.MarketingNPV.com) and the author of Marketing by the Dashboard Light: How to Get More Insight, Foresight, and Accountability from Your Marketing Investments.

Rate this  

Overall rating

  • Not rated yet.

Add a Comment

Comments

  • by Nahed Matarid Sun Mar 9, 2008 via web

    The article is very useful , but i need to know how to apply BSC step by step in marketing

  • by Mohamed Kassem Sat Jun 20, 2009 via web

    Yes,it is a great article, however, lt lacks any refrence to it application in marketing

MarketingProfs uses single
sign-on with Facebook, Twitter, Google and others to make subscribing and signing in easier for you. That's it, and nothing more! Rest assured that MarketingProfs: Your data is secure with MarketingProfs SocialSafe!