How Samsung is improving marketing investment performance with real-time data
Tying media spend to sales is an ongoing challenge for marketers and advertisers. With increasing pressure to demonstrate the value of their media investment decisions, teams are increasingly turning to marketing mix modeling to analyze the performance impact of campaign decisions.
However, traditional marketing mix modeling has some challenges — key among them is the speed of delivery and the visibility of results. Standard models may rely on data that quickly become outdated, which reduces its value when informing future media planning. In other instances, data devolves into isolated pockets that aren’t conducive for iterative decision-making.
“What happens in lots of businesses is that these things land as a PDF or PowerPoint and can get lost in someone’s email, and after a while, you easily lose visibility of them,” said Carl Bunn, head of data and solutions at Samsung Australia. “In order to solve the problems of the organization, you need to know what they are, but you also need to sit with them on a real-time basis.