BALANCE SCORE CARD- A GREAT YOUTUBE MARKETING MANAGEMENT STRATEGY

 

YouTube marketing is being used by every business organization for their digital marketing activities. The marketing managers use a strategic management tool called Balanced Scorecard for measuring the actual performance of their marketing activities.

 

Balanced scorecard helps the managers in getting the deviations in the planned and actual performance by thoroughly analyzing and measuring all the parameters of the balance scorecard. Today, we will discuss this great YouTube marketing management strategy called Balance Score card.

 

HOW BALANCED SCORECARD IS USED AS A YOUTUBE MARKETING MANAGEMENT STRATEGY

Balanced scorecard strategic tool functions on the basis of four major elements: FINANCIAL, CUSTOMER, INTERNAL BUSINESS PROCESS, LEARNING & GROWTH. Today we will discuss how these 4 major elements are used in the YouTube marketing strategy management.

1.   FINANCIAL

One of the major elements of the balanced scorecard's Financial perspective. Finance is the life blood of every business organization. Every manager of the business organization has to keep keen control on the financial activities of business processes. YouTube marketing activities also involve some amount of cost. This cost is not high in numbers but has a high influence on the overall budget of the whole digital marketing activity.

 

In fact, for effective YouTube marketing, the marketers rely on Professional YouTube marketing services. These services also involve cost. So, the digital marketer has to keep full track on the overall budget and make satisfactory arrangements which do not affect the overall budgetary policy of the digital marketing function.

2.   CUSTOMER

Another major element of a balanced scorecard strategy is the customer. Customer is the major element for every business organization. YouTube marketing uses different kinds of media content to promote our products and services. This content is created for the customers. One of the major objectives of YouTube marketing is increasing the customer base through the YouTube marketing activities.

 

This element involves:

●       Segmentation of the target audience

●       Audience engagement

●       Social media marketing

●       Content creation

●       Variety of content

●       Cross referencing through YouTube videos

●       YouTube advertising

●       Copyright

●       Safety of transactions

●       Customer preferences

●       Number of subscribers

All these thighs need to be tracked and managed through YouTube marketing strategic management tool called balanced scorecard.

3. INTERNAL BUSINESS PROCESSES

Another major element of YouTube marketing strategy named Balanced scorecard is internal business processes. YouTube marketing strategy can be implemented through the internal operations of the marketing department of business management. YouTube marketing strategy is designed, planned and executed like other business marketing processes and it also involves high influence of internal business processes.

 

This element of YouTube marketing strategic management involves content distribution process, launch of advertising campaigns, account subscription and ad views, overall content creation processes, development and implementation of technology, maintaining copyright policy, influencer marketing activities and many more internal processes of YouTue marketing. This element basically involves implementation of strategies.

4. LEARNING AND GROWTH

Learning and growth is the last element of YouTube's strategic tool called balance scorecard. Growth is the major goal of every business process. The growth rate through YouTube marketing strategies in the marketing function is measured through this element. In this perspective the manager measures how much the advertising campaign influences the brand image? How much th company earn through YouTube advertising? This element involves:

●       Total market share of YouTube channel

●       Revenue through YouTube advertising

●       Search engine rankings

●       Customer base

●       Target customers

●       Growth of sales

●       Innovation

●       Impact of technology

●       Overall brand positioning

●       Success rate of digital marketing through YouTube

This element basically involves the results of all YouTube marketing activities. Through the result report of this element the marketer can analyze the direction in which he has to move further for the future development. They analyze the success rate of their YouTube marketing strategy implementation.

CONCLUSION

Balanced scorecards are found to be a financial tool. But it is also a strategic management tool for measuring the overall performance of a particular strategic process. YouTube marketing strategy is also very crucial for getting the successful results of the YouTube marketing activities. Balanced scorecard strategy can help the YouTube marketer in controlling the overall performance of their YouTube marketing operations.