Tag: effective marketing

Marketing Spend Management in a Downturn

Why cutting marketing spends during a downturn is not the most reasonable solution and how marketers can negotiate and justify the necessary investments when the company is trying to save money. In this article you will learn about four tips on managing marketing spends during a slowdown more efficiently. During crises and downturns budgets are especially strictly controlled as companies try to save resources, so marketers find themselves under even more pressure to communicate the value of their investment decisions. Simply reducing media spends will not do because in the long term it will negatively affect brand equity and future sales. Here we will discuss some advice from a recent McKinsey article that can be useful for weathering challenging periods like we are currently going through. The Covid-19 pandemic has dramatically changed the market conditions and consumer behaviour, that’s why companies need to take prompt actions to stay competitive and secure future growth. If you use Marketing Mix Modelling to evaluate marketing performance, you need to adjust your models so that they would account for Covid-19 factor. We will also tell you how our solution helps to optimize budgeting and give the best performance with limited and fixed funds. Since… Read more »

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’s 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 »

CMA Reveals Digital Advertising Market Problems in the UK

The digital marketing spend is growing putting marketers under pressure to justify huge investments. And even with a variety of measurement techniques it’s not easy to find what really works, especially taking into account transparency issues. In this article we discuss new problems related to digital media and how to cope with them. An independent government department in the UK that promotes competition and consumer law – Competition and Markets Authority’s (CMA) – carried out an investigation of digital advertising sphere as a part of the new strategy designed to better handle quickly growing digital economy. In July 2019, they started looking into operations of online platforms, including the two biggest ones – Google and Facebook. The report voices concerns about transparency of the business, but before we go deeper in detail, let’s take a look back and see how we got to the current situation. It all started with the 2016 ANA/K2 Intelligence report on media transparency in the U.S., which was a true wake-up call for the advertising industry. The report revealed numerous non-transparent business practices like rebates in different agencies. The fact that they failed to act in the best interests of their clients severely shook the… Read more »

Secrets of Nestlé’s Hybrid Approach to In-Housing

What is more effective: external agencies or an in-house team? It seems Nestlé found a perfect compromise in the heated debate. They gathered a team of external specialists supervised by internal executives to achieve more effective marketing management. Here you can find what functions they decided to handle themselves and what goals they were pursuing with the move. In an attempt to increase marketing effectiveness and transparency, the world’s largest food company pulled experts in media and tech from partner agencies and appointed internal executives to lead them. Today many large advertisers are thinking about moving at least some capabilities in-house, even though the process is not very simple, and there are a few concerns and problems related to it. Partially it was triggered by the FBI investigation into non-transparent practices in the industry. But it’s worth mentioning that in-housing is not just a temporary trend, it’s becoming a new reality, especially hybrid approach to it. According to a recent ANA (Association of National Advertisers) study, 78% of their members have an in-house agency. If Nestlé’s internal team proves a success, it can become a model case for other companies. And it seems to be a good strategy, because they… Read more »

Nestlé, hybrid approach to in-housing, effective marketing