In part 3 of our series on In-House Marketing Effectiveness Measurement, we discuss how marketing analytics platforms can be used by different kinds of organizations to streamline their marketing effectiveness and ROI measurement.
Missed the previous part of the series? Read Part 2: Building an In-House Marketing ROI Program
Different advertisers have different needs, and different decision-making cultures. Some rely on internal expertise and capabilities to analyze and guide their marketing investments. Others use outside help, asking consultants or their agencies to drive the process and offer expertise on key decisions. Regardless of which approach your organization uses, you need a way to make decisions about your marketing investments quickly and cost effectively across your entire business.
Achieving that kind of broad, responsive marketing analytics support requires efficiency. Expertise is pivotal, but modern marketers also need to scale their decisions across an enormous range of brands, markets, and campaigns. Providing the kind of ‘always on’ support required to navigate a constantly changing marketplace requires an analytic process that can expand quickly when required. Speed and repeatability also help to minimize costs and maintain strategic agility. As we discussed in our last post, having a common platform that automates key process steps, and which can be reused across brands and markets, is critical. It’s how we achieve the efficiency required to deliver ‘always on’ support through our Demand DriversTM service.
The good news is that it’s possible to achieve this kind of efficiency regardless of your decision-making culture. With the right analysis platform, consultants can offer expert guidance to clients with ‘always on’ support that can scale built into the package. We do this by using Demand DriversTM to automate our consulting engagements and provide ongoing ‘always on’ decision support for the advertisers we work with. Under this approach an advertiser can still choose the consultant and the expertise they prefer, without having to settle for a less responsive, less scalable approach that can’t keep up with their decision-making needs.
On the other end of the spectrum, we’ve also worked with advertisers to help them build their own ‘DIY’ MMM and attribution programs. Implementing Demand DriversTM allows them to move directly to an ‘always on’ framework, without the expense or risk of building the whole system themselves. Demand DriversTM can be implemented on their cloud, with their data and reporting tools, and used by their existing data science teams (who typically cover much more ground with an integrated system). We add as much or as little training as those teams require to learn specific methods and best practices. These ‘DIY’ clients move to an ‘always on’ framework using their existing teams and resources faster, and with lower risk or cost than a home-grown effort.
Regardless of their decision-making culture, any advertiser can benefit from an integrated marketing analytics platform like Demand DriversTM. Using technology to streamline the entire decision-making cycle is the foundation of the ‘always on’ support that most advertisers need. It’s an unfamiliar idea in an industry that’s traditionally been built around custom projects and ‘proprietary’ (if barely different) black box methods. But it’s one worth considering if your brands need faster, more agile support. Technology has made other business processes radically more efficient. Measuring the return on your marketing investments should be no different.
Analytic Edge’s Demand DriversTM is available to support this journey. Demand DriversTM is an end-to-end MMM solution that integrates the entire MMM workflow into a single platform, helping marketers achieve the strategic view they need, with ‘always on’ decision support, and no need to build their MMM system alone. As a cloud-based solution, it allows for easy implementation and integration with existing data sources and visualization tools, and it comes with training and technical support as part of the package.
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