Tag: COVID-19

Adapting MMM models to COVID-related changes

Evaluating media budget effectiveness and finding optimal media mix has always been an important and difficult task, and it’s even more so in the current situation during the COVID-19 outbreak. In this article we will discuss Facebook and experts’ advice on adjusting marketing mix models to the situation on the market and explain how our solution can be useful to marketers today. We are trying to keep you updated on all marketing measurement trends, that’s why we prepared an article on the use of measurement tools after the phase-out of cookies and IDFA. Get ready to privacy changes and apply solutions that won’t be affected by the new conditions. See how MMM, MTA, brand studies and other approaches are going to function without third-party cookies. Marketing budget allocation is a very important strategic process. And making the right decision is especially difficult when game-changing situations like the COVID-19 outbreak happen. Today it’s necessary to invest in channels that will bring measurable results. Marketing Mix Modelling is a well-tried, reliable tool that has been helping marketers to make well-informed strategic decisions and measure the effectiveness of advertising campaigns. In a previous article we said that modern MMM solutions meeting advertisers’ requirements… Read more »

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How to change marketing strategy during the coronavirus outbreak?

The coronavirus pandemic is forcing the whole world to face unexpected challenges and adapt to the new conditions. Millions of people working in different industries including marketing are looking for ways to succeed or at least remain stable in such a volatile climate. In a recent interview Kathy Bachmann, General Manager of Americas in a global consultancy company, Analytic Partners Inc., shared her opinion on a few strategic problems that suddenly appeared on marketers’ agenda. The trend of growing online sales and lower offline sales, that had been around before the pandemic, has strengthened even further over the last month. Even though customers will return to regular shops once everything gets back to normal, the increasing shift to e-commerce will not go away, so it makes sense to focus on developing this capability. Taking into account the impact on media consumption, consumer mobility and supply chains, it’s necessary to review and adjust some marketing mixes companies currently use. Marketers need to wisely, but quickly plan every next move to benefit from any arising opportunities or mitigate losses. There is no universal strategy, so changes will vary from business to business: some advertisers need to boost spends while others should keep… Read more »

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Effective marketing strategy, marketing effectiveness, coronavirus pandemic, COVID-19, marketing investments, ROMI increase, crisis marketing strategy, adapt marketing strategy, e-commerce, media budget reallocation, media budget optimization