Take Control of Your Marketing and Media Investments
Proving the business impact of marketing activities
There is a growing sentiment among marketers that, despite having access to more data than ever before, they know less about their media performance. Data isn’t information, and information isn’t insight. It takes a whole new set of skills to build marketing insights and technical capabilities of which there are shortages in the industry. So marketing measurement remains a challenge, as does taking control of media investments.
At the same time, marketers face growing accountability and have to prove their budget is delivering results. The impact they can show affects their budgets for upcoming periods or campaigns. Marketers now have to optimize campaigns and answer questions such as: what happens when I adjust the media mix, explore a new channel, shift budgets? What are our expectations to begin with? And how do we know whether or not a change was effective?
Proving Business Impact
To be successful, you need to be able to measure results. Many brands are already carrying out yearly marketing mix modelling analyses with their media agency and media platforms such as Google offer basic attribution models. There’s also an understanding among marketers that this is not enough. The industry now understands the limitations of conventional marketing measurement techniques. As a result, more advanced techniques are becoming the norm, consolidating traditional, digital and owned channels, and offering a holistic, unified overview of all media.
Our CEO Rudy de Back observed this shift. “When we first started out, we were an innovation project. Companies worked with us because they were looking for new insights, new ways to grow, save, or outperform competitors. They were the first movers. Four years later, unified marketing measurement has become much more of a standard. Their current challenge is implementing advanced modelling and measurement solutions in business processes.”
Successfully Taking Control
Telecom giant Deutsche Telekom managed to do this and successfully regained control over their media strategy as part of their digital transformation. They achieved this by redesigning their complete media ecosystem and launching their new Media Operating Model (MOM) in 2018. This model consists of five building blocks operated in-house or by dedicated partners, one of which is Media Analytics Services.
Lutz Laermanns manages media analytics for the Deutsche Telekom group at the international level. “We started MOM to avoid friction losses and to increase media effectiveness. Being in control of media investments, to me, means understanding the patterns of success and realizing optimization potential in strategy development,” Lutz says. Analytics is, therefore, one of the building blocks of MOM. “Analytics should always be completely integrated into the strategy and steering process of media management. Ideally, it parallels the media planning process in every step.”
Objective Platform (O/P) is Deutsche Telekom’s analytics partner. “As the world is turning to agile, O/P fits in with an agile and flexible setup of working. They also customize solutions for each of our NatCos, such as T-Mobile Netherlands, Telekom Romania and Magyar Telekom. Aside from the obvious benefits, O/P helps form a connective tissue between data siloes and business functions using analytics,” Lutz adds.
The key is modelling marketing data with the purpose of answering business questions, not to find some sort of ‘truth’. “This is the driving force behind Objective Platform,” Rudy adds. “Marketing now has to be accountable. The majority of brands are looking to reorganize their internal marketing model. With our measurement platform, we aim to help brands track marketing performance and embed data-driven decision making in their day-to-day business flow. Marketers can then focus on marketing, and don’t have to accumulate critical econometric or tech skills.”
Want to know more on how our clients managed to not only control their media investments but also measure the impact of their omni-channel approach?