Formulation -- Because the Looma Project is B2B, more attention should initially be given to quality of traffic as opposed to volume. The Looma Project needs to build brand awareness to grow their target market and brand loyalty among their current clients to generate referrals.
- Number of site visits
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Length of site visits
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Referral traffic
Pre-Commerce -- Credibility and value for the client will be critical to conversion in the commerce phase. Because there is little data available on the effectiveness of the Looma Project’s previous work, catering to SMB clients on an individual level will help to generate the personal connection and loyalty that will allow for future growth.
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Return site visits
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Likes and shares on social media
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Connections on Linkedin
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Number of coffee chats/ website inquiries
Commerce -- The Looma Project lacks a strong portfolio of previous work it is important to build a successful collection of case studies while also implementing effective marketing efforts in the commerce phase. Ensuring that they are increasing sales for clients, minimizing/eradicating cannibalization rates for retailers and increasing brand awareness for their clients are all zenith to the startup’s success.
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Conversion rate
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Contract renewals/extensions
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SLA conversion
Analysis: Because the Looma Project is still relatively nascent, it is critical that marketing efforts in the awareness and consideration phases are effective. As the primary (perhaps even sole) facilitator of sales / lead generation Cole should monitor marketing efforts closely and coordinate them with his revenue needs. Being able to identify and make changes to these marketing efforts based on these KPIs in an AGILE manner will allow the Looma Project to navigate these unique challenges.