360° Marketing Measurement

Marketing Measurement Done Right In 2024​

Marketing is one of the largest expenditures for many businesses – and basing budget decisions on wrong or biased data can easily cost you millions. Additionally measuring what works and what doesn’t is only becoming harder – GDPR, CCPA, ePrivacy, iOS 14+, adBlockers, missing consents – just to name a few factors. 

According to CMO Survey 2023 “Demonstrating the impact of marketing on financial outcomes” is the top challenge for marketing leaders

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CMOs and marketing directors find it challenging to demonstrate marketing impact on financial results

The solution is in adopting a system based on 4 components that work toghether

For strategic ROI measurement of all channels (online and offline) and for media spend & budget optimization.

For proving incrementality and calibrating other methods.

For detailed results of selected digital channels and daily /weekly optimizations.

Data collection and processing to make sure models and tests are fed high fidelity data. Data vizualization.

Measurement Framework

Marketing Mix Modelling

MMM demo results
MMM demo results

MMM  is a way to measure the impact of marketing activities and other factors on revenue, number of acquired users or similar KPI using statistical modelling. Traditionally used by Fortune 500 companies to measure TV, it has undergone major upgrades recently – modern versions are always-on, heavily automated and use AI / machine learning. However, an experienced MMM analyst is still indespensable in most cases to complement the automation.

Budget & ROI optimization
  • Optimal channel budget allocation. Brands actively using MMM for spend optimization typically achieve double digit ROI improvement.
Online and Offline Marketing
  • Search, display, video, social, influencers, TV, OOH and others. Impact of events, external factors and competition.
All Sales Channels
  • Measures impact of marketing on all your sales channels - online and offline. Web, app, marketplaces, own retail stores, retail partners,...
Strategic focus
  • Tool for marketing leaders for overall performance measurement, planning and budget decisions.

Attribution Modelling

Attribution in a laptop scren
Attribution in a laptop scren

Attribution models are an important tool in digital marketer’s toolbox – they are a complement to MMM and experiments, not their replacement or alternative. They provide the necessary granularity and almost real-time results needed for tactical daily decisions. Modern approaches to attribution include using AI / neural networks, regression based attribution or game theoretic principles. 

Model & Tool selection
  • Choosing the right attribution model and tool for your business. Does it make sense to invest into sophisticated custom attribution or are standard solutions like GA4 DDA actually sufficient?
Application & Consulting
  • Help with change management and incorporating the results into your operational processes in digital marketing - something often overlooked.
  • Be it implementation of a 3rd party tool or developing a custom attribution model for your specific needs. Data collection, preparation and processing.
Validating Attribution Model
  • Already have an attribution model in place? But not sure if and when you can trust it and what its limits are?

Tests & Experiments

Experiments & Tests help measure the “ground truth” – true incrementality of media channels, specific campaigns or promotions or other changes and interventions – free delivery, change in pricing, changes in distribution etc.

They are used both for incrementality and optimization purposes and their results can be used to calibrate both MMM and attribution models.

They are an indespensable (if often underused) tool for marketing optimization – firms using experiments achieve more effective and efficient advertising programs (as shown in research by J.Runge and H.Nair)

Test & Learn Program
  • Companies often know they should use testing but struggle to translate this into practice. Rely on our experience on how to operationalize successful Test&Learn programs.
  • For organizations doing tens or hundreds or tests and evaluations, it makes sense to automate large parts of the process - there are ways to do it.
Experiment Design and Evaluation
  • Choosing the right experiment design and tools for evaluation is critical for success. Geo-experiments, user-based tests, synthetic control gourps, time-based tests...we can support you or deliver end-to-end solution.
Training & Consulting
  • Custom training & consulting for your team - Marketing, Commercial, Data & Analytics, BI

Data Excellence

Attribution in a laptop scren
Data quality
  • Data collection, cleaning and transformation to make sure all models and reports are based on rock-solid high fidelity data.
Marketing Data Strategy
  • Making sure you collect and process the data that are valuable for your business in a fully-compliant way. Designing processes and systems to ensure this outcome.
Data Vizualization
  • Improve decision making with dashboards and reports customized to your needs. Clarity in data presentation and story-telling.
Data Infrastructure
  • Designing and building reliable and secure data infrastructure. Cloud platform infrastructure management.

Let's Talk About 360° Marketing Measurement

Get in touch with Marketingintelligence team.