Last year, we saw the rise of powerful Unified Marketing Measurement solutions that improve media ROI. For holistic insights, UMM solutions combine different techniques, like Multi-Touch Attribution (MTA) and Marketing Mix Modelling (MMM). By now, all the big brands have invested in marketing measurement solutions to gain a competitive advantage and unlock their marketing potential.
What are you waiting for? Read here the 5 reasons why you should implement a Unified Marketing Measurement solution NOW!
1. Give Meaning to Marketing Measurement
Marketers have growing amounts of data available to them, but this doesn’t necessarily result in more insights. Just because you can measure something doesn’t mean it is essential. There is a step between data and action; remember that data is valuable only when it helps you reach a goal. Unified attribution models combining multi-touch attribution and marketing mix modelling provide you with relevant information and transform your data into relevant insights. This allows you to measure the effectiveness of your marketing activities at a very granular level.
2. Boost the Alignment and Accountability of Marketing Teams
Within an organisation, different marketing teams often work independently from one another. Each team’s activity, however, affects the other’s. For instance, a large offline branding campaign affects Paid Search. But the SEA team doesn’t even know about the offline campaign, and the offline team doesn’t know anything about the campaign’s effect on Search and sales. The success of the offline campaign is evaluated in isolation according to branding metrics alone.
Objective Platform facilitates the definition of new marketing structures by eliminating data silos. Our UMM solution provides a single source of truth that allows all teams to work towards one goal. Thus, the teams involved understand their position in the customer journey and their effect on sales and other channels.
3. Merge Online and Offline Media Channels
Keep up in an omnichannel world. MTA and MMM can be combined into a unified model to plot complete customer journeys and help you gain a holistic overview of all media channels. You can then determine the effect of offline media on online and retail sales and vice versa. Explore omnichannel marketing here.
4. Predict Marketing Performance
Marketing measurement solutions, like UMM, go beyond measurement and optimisation. What’s next? MARKETING FORECAST. With Objective Platform you can create ‘what if’ scenarios, insert your business specifics and external factors, and forecast their performance. Use the learnings to tweak your scenarios until you reach perfection. Once you choose the most successful scenario, you’re ready to execute it. Upload the outcomes and make your predictions more accurate every time.
5. Gain a Competitive Advantage in Marketing
Be ready for the future. Some channels are moving towards real-time measurement and optimisation. Attribution models allow you to monitor marketing performance. They help you be aware of changes in the market, model relevant external factors, and adjust budgets and campaigns when necessary. You can then also model the effect of your competitors’ marketing activity, helping you determine how to position yourself against the competition.
Objective Platform provides marketing teams with clear insights and budget plan recommendations to keep track and optimise their multi-channel media investments and increase their ROI on all online and offline channels.
Ready to take your marketing game to the next level? We can take you to marketing measurement maturity in 5 clear steps!