In Part 1 of this series, we discussed how organizational objectives may change the implementation of a media mix and optimization platform. Once the objectives have been set, it’s time to formulate a plan around how to measure the efficacy of your efforts.
With the advent of big data, media mix measurement and optimization have become a required staple in the marketer’s toolbox. Effectively, media mix measurement and optimization are comprised of seven elements:
More and more, the zombie apocalypse is looking like people wandering the streets, driving, eating out, and doing just about everything with their faces buried in their screens. Communications have gone the way of messaging, leaving face-to-face, and even phone, conversations a novelty. We’re all guilty of it – or at least half of us are.
There are many different strategies for measuring the value of your customers both individually and collectively. While collective measurements like Average Revenue Per Customer (ARPC) can offer you a holistic view of your entire customer base, it can often be misleading. ARPC can become significantly skewed by the presence of a few big-spenders.
Executing and developing the most effective marketing campaign requires a combination of forethought, research and analysis. There are a number of marketing optimization methods and technologies that can help you succeed. Sirius Decisions recently highlighted 8 keys to a successful marketing campaign. We made an infographic highlighting the eight most important strategies for successful marketing campaigns and took a deep dive into them below.
Aberdeen reported in February that 100% of businesses are using more than one channel to interact with customers. Multi-channel hasn’t been new for years, as their CEM report pointed out. Not only is the term tired but pointing out that businesses use more than one channel to communicate and drive sales is old news and completely misses the point of modern marketing.
Your customer walks in to the store to purchase a widget. Two scenarios could happen:
Scenario 1
The customer walks up to the register and the associate asks if they were able to find everything they were looking for. The customer says yes, pays and leaves.
Or...
More and more, consumers are bombarded with messages—from advertisements under the ice at a hockey game to mobile phone apps, or one of the thousands of other places ads are placed in today's media-rich environment. What stands out is how marketers are slowly taking up the concepts of offer optimization:
With a lot of predictions pointing to an emphasis on ROI, 2013 stands to be the year that marketing analysis gets a facelift. CMOs are looking for more results and analytics to prove the value of their efforts. And the world is moving quickly so there’s pressure to keep up.
