Econometrics, also known as marketing mix modelling, has become a popular method of measurement in marketing. This chapter outlines the key benefits and challenges of this approach, and how marketers can implement it effectively. Econometrics/marketing mix modelling (MMM) Econometrics, or marketing mix modelling (MMM), is an approach that brings together data from a variety of […]
Controlled experiments and incrementality tests are used in many fields to assess effectiveness and enhance data-driven decision-making. The benefits and challenges of these approaches are explored in this chapter. Controlled experiments and incrementality tests Controlled experiments measure the impact of marketing by creating test and control groups, and then exposing them to different marketing messages, […]
Brand studies and panel-based methodologies are proving to be strong alternatives to third-party cookies. They are popular for a number of reasons, but not without their challenges, as this chapter explores. Brand studies After first-party data, according to Econsultancy’s Future of Marketing report, brand studies are the second most popular option being used and considered […]
Market research provides vital insight into customer behaviour. This best practice guide defines a framework for conducting market research and demonstrates how data can be turned into insight, and then into action.
In an increasingly privacy-conscious web, contextual ad targeting is having a moment. Discussion website and self-proclaimed ‘front page of the internet’, Reddit, recently announced the acquisition of Spiketrap, an audience contextualisation company. As well as further building out Reddit’s advertising offering, the move to acquire Spiketrap highlights Reddit’s intention to capitalise on advertising that matches […]
In an ideal world, every company hopes to build legions of loyal, satisfied customers who will not only provide them with repeat business, but enthusiastically promote their company to friends and family.
The world of social media is vast and full of potentially useful conversations for brands.
According to many of today’s advocates for data-driven organisations, predictive analytics sounds the most exciting. It apparently lets us ‘predict the future using data from the past’.
While being able to see the future sounds great, the reality of predictive analytics is a bit more mundane. It does, however, still have the potential to make real business impact in the present.
Following Brexit and the US presidential election, many brands have responded to the polarized times by choosing to weigh in on political and social issues.
But brands face numerous challenges in trying to do this successfully. Chief among them: how do brands connect with consumers at a time when so many of them don’t see eye-to-eye on some of the most important issues of our time?
Starbucks is one of the brands that isn’t afraid to get political in an increasingly polarized world.
Its most recent political statement: it announced plans to hire 10,000 refugees following US President Donald Trump’s enactment of a temporary travel ban targeting individuals from a number of predominantly Muslim countries.
Social media has dominated my working life since its inception.
It’s been fascinating to see the evolution of brand communication as it moved away from brands talking at people, towards the creation of a dialogue with customers, fans and followers.
In the Mad Men era of marketing, appealing to the customer’s emotional drivers was the standard – the “go-to” play.
Appeals to the heart won the wallet. Take a more recent example, from a category with a very emotional appeal: the Budweiser Clydesdale horse campaign.