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Metrics for CMO performance
Dimitri Maex, Admap, April 2013, pp. 36-37
Chief marketing officers find themselves with greater influence in the boardroom than ever before, as the tools they use grow more sophisticated.
Chief marketing officers find themselves with greater influence in the boardroom than ever before, as the tools they use grow more sophisticated. This article offers five steps, illustrated with real-life examples from a major campaign for UPS, that CMOs can use to show the boardroom how a more collaborative approach to the marketing function can help to make more money for the company. These are to jointly plan for measurement, balance financial with non-financial metrics, distribute results in real time, be clear about expectations, and measure short- and long-term effects and plan accordingly.
RapidMMM: Richer, faster and affordable marketing mix models
Patralekha Bhattachary and Krishna Mehta , ARF Key Issue Forum, Re:Think conference, 2013
This paper argues that the time and costs involved in building a marketing mix model implies that model rebuild is an infrequent phenomenon and often the performance of these models deteriorate significantly - before they are evaluated and improved.
This paper argues that the time and costs involved in building a marketing mix model implies that model rebuild is an infrequent phenomenon and often the performance of these models deteriorate significantly - before they are evaluated and improved. This can limit the ability of firms to react quickly to changing market conditions. This paper discusses RapidMMM, a proprietary solution which uses advanced statistical and machine learning techniques to build marketing mix models within hours. The authors argue this solution reduces the time and costs involved with building a marketing mix model, making these models affordable to a larger cohort of media planners.
Second-by-Second Analysis of Advertising Exposure in TV Pods: The Dynamics of Position, Length, and Timing
Srinivasan Swaminathan and Robert Kent, Journal of Advertising Research, Vol. 53, No. 1, 2013, pp. 91-100
This study explores how message delivery may differ for television commercials that appear in various pod positions.
This study explores how message delivery may differ for television commercials that appear in various pod positions. Channel changing at the onset of commercials often may lead to higher exposure levels for advertisements in the first pod position. When advertising pods are relatively long, viewers may return within the pod, so commercials in the first and last pod positions may have higher exposure levels than commercials in middle pod positions. The set of advantageous pod positions, however, can differ in commercial breaks that appear near the beginning and end of programs. Ideas for audience measurement, media buying, and advertising creative are developed.
Are we zeroing in on the wrong things?
Sue Unerman, Warc Exclusive, MAP: Measuring Advertising Performance, March 2013
This presentation discusses media measurement and ROI in the UK. It questions if planners are focussing on the wrong KPI metrics.
This presentation discusses media measurement and ROI in the UK. It questions if planners are focussing on the wrong KPI metrics. Instead it is suggested that the formation of genuine media partnerships and the 'shareability' of a campaign may serve as better performance indicators.
What the world thinks: Understanding advertising in the age of connected data
Andy Morris and Shaun Austin, Warc Exclusive, MAP: Measuring Advertising Performance, March 2013
This presentation suggests that using "connected data" - overlaying precise media consumption and brand perception data - can enable brands to understand which of their advertising channels are most effective.
This presentation suggests that using "connected data" - overlaying precise media consumption and brand perception data - can enable brands to understand which of their advertising channels are most effective. The presentation discusses a case study from mobile phone brand BlackBerry, which was facing declining reputation and market share. Connected data was used for the campaign launching BlackBerry's Z10 handset in the UK: the media plan was fused with YouGov's media consumption data to track behaviour. The campaign used newspaper and TV ads; the data tracked BlackBerry's brand metrics during the campaign. Among the findings from the project are that BlackBerry faces an uphill struggle to turn its fortunes around, but that ads in quality newspapers work well.
Google, MediaCom and Millward Brown: New marketing trends and techniques at MAP 2013
Brian Carruthers, Event Reports, Measuring Advertising Performance, March 2013
A round-up of presentations from Measuring Advertising Performance (MAP) 2013 – a conference organised by Warc and featuring latest insights on planning, measuring and executing great ad campaigns.
A round-up of presentations from Measuring Advertising Performance (MAP) 2013 – a conference organised by Warc and featuring latest insights on planning, measuring and executing great ad campaigns. Many presentations showed shared themes, including the various ways marketers can analyse consumer emotions and distinguish between rational and subliminal thinking. There was also a trend towards defending more traditional ways of advertising, with TV revealed to remain an effective media channel, despite the hype around new media.
Carat, Twitter and HSBC: Channel, data and lead generation strategies from the AOP B2B Conference
Joseph Clift, Event Reports, AOP B2B, March 2013
A round up from the annual B2B Conference organised by the UK Association of Online Publishers (AOP).
A round up from the annual B2B Conference organised by the UK Association of Online Publishers (AOP). The main points from the day's presentations, which came from media agencies and clients as well as publishers, include: that content will remain king for B2B marketers; that the complexity of the media and marketing landscape has vastly increased recently – and the industry has a way to go before developing appropriate measurement metrics; and that clients are increasingly likely to adopt integrated solutions and are increasingly open to using new platforms and services to reach a human, rather than a business, audience.
Strengthen multichannel analytics - Observations on strengthening digital capability
Research on Warc, CEB Marketing Leadership Council in partnership with Google, 2012
Despite high hopes for applying rigorous multichannel analytics to the rapidly growing volumes of digital marketing data, progress has been slow and constrained for many organizations.
Despite high hopes for applying rigorous multichannel analytics to the rapidly growing volumes of digital marketing data, progress has been slow and constrained for many organizations. This chapter contains an exploration of the roadblocks to analytical progress, focusing specifically on the areas where organizations are most likely to find immediate performance gains. Principles are offered for deepening the analytic talent bench with constrained budget, including shifting the analytics budget away from tool investments and toward the acquisition of top talent. It is suggested that organisations can gain greater value from data already available, and organisations are advised to focus on three key areas: contact scoring and pipeline analytics, conversion pathway and attribution modelling, and structure experimentation.
Are You Ready for the Next Big Thing? New Media Is Dead! Long Live New Media!
Jenni Romaniuk, Journal of Advertising Research, Vol. 52, No. 4, 2012, pp. 397-399
The growth in new-media channels is a major challenge for advertisers and researchers, who have to assess whether each 'next big thing' is worthy of marketing investment or just an over-hyped fad.
The growth in new-media channels is a major challenge for advertisers and researchers, who have to assess whether each 'next big thing' is worthy of marketing investment or just an over-hyped fad. This paper outlines four stages advertisers often go through when a new channel emerges (curiosity, worship, justification and acceptance) and makes some recommendations that will help marketers make the right decision (and optimise their ROI). Recommendations include: know the type of audience the new channel attracts; understand which consumers are willing to engage with new media channels; be wary of metrics and sceptical of 'bought' research.
The evolution of attribution: Giving credit where credit is due
Marketing NPV, Volume 8, Issue 1
It is difficult to measure and attribute specific campaign activities to overall campaign results. This article examines different methods to improve establishing the connection between the two.
It is difficult to measure and attribute specific campaign activities to overall campaign results. This article examines different methods to improve establishing the connection between the two. Marketers must move on from the "last-click" approach that relies too heavily on the traditional funnel and take into account the Consumer Decision Journey. Models such as allocated attribution, media mix and algorithmic modelling have all come forward to try and measure multiple touchpoints. For attribution to continue to evolve, marketers must get much more granular with their analytics and find ways to integrate offline and online metrics. To do this, they must take advantage of the depth of data that is being collected for deeper insights, that then need to be incorporated back into an analytical framework which measures cross-tactical attribution.
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