Question

Topic: Research/Metrics

Creating More Effective Marketing Campaigns

Posted by Anonymous on 12/30/2005 at 3:05 AM ET 250 Points
I have been researching various models and reviewing the comments here. Much of what I have read deals with ROI, which is important to us, but we are looking for more help with developing a campaign or plan. Of course there are no guarantees, but I would like a way (system or other) where I can input the information we have gathered in research from demographics to historical patterns, to develop better campaigns for various types of businesses we serve. We want methods that will help to better determine what media should be used and how much weight should be distributed. I realize that a lot of this will come from our insight , but as many have said here, clients are looking to justify their spending in a much more aggressive manner. Bottom line, better measures that will either change or help validate our recommendations. As we see it, this is as close to a guarantee that we could ever come. I work with a small company with very little budget for many of the models I have reviewed...Help?
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RESPONSES

  • Posted on 12/30/2005 at 10:37 AM Author
    To Sham and blanalytics:

    Thank you for responding so quickly. I have been a independent consultant for a number of years helping businesses in my community on more of a part time basis with developing marketing plans, strategies, implementation and media planning, placement and purchase. Several consultants and sales professionals, including myself, are now branching out and opening an agency providing these services on a full time basis. So to clarify what I am looking for... once all the items you highlighted are compiled, from market scope, consumer perception to information gathered from focus groups, customer surveys or other methods...once you have performed all the necessary research and have a understanding of the company and goals you are trying to reach, is there a system or method where I can input these variables which can then help to identify what would be most effective. Are there formulas where I can develop my own model? I work with various types of businesses, from entertainment companies, political campaigns to service business and product oriented businesses, therefore I need a general technique or system. I have experience and some generic programs that are more geared to specific media. Using that and developing insight into each clients' project is what has enabled me to develop campaigns thus far. I am now looking for a way to backup what my recommendations are, or lead me in a better direction in order to provide better results, and variables that can clearly show circumstances that would create the best results. NOT sure if I cleared that up or made it more complicated. I believe I am missing the scientific or mathematical portion of developing my model or identifying my results.

    And blanalytics, I will email you.
  • Posted by mgoodman on 12/31/2005 at 10:00 AM Accepted
    I know that marketing ROI has become the rage, but the state of the art is still not precise enough to warrant elaborate models in many/most cases.

    It's possible to measure individual components when you have a test/control situation, and it's possible when you have relatively few variables (like a single distribution channel, use Adwords only, etc.). But for most situations, the number of variables is too great and they are too difficult to measure.

    Just one small example: Client had a marketing plan that worked fine for his consumer product that was in broad distribution (in the US). Then he was able to get distribution in Wal-Mart. Suddenly his marketing ROI went DOWN -- he was spending more to generate the same sales volume, and his profit was lower.

    We have a theory as to what happened, but trying to quantify it all in a model probably isn't worth the time and expense because the key variable -- perception of brands sold through Wal-Mart -- is not easily quantified.

    You're dealing with a situation where the tools are too crude for the measurements you are trying to make. It's like trying to measure the thickness of a sheet of paper using a ruler. You can measure the thickness of a ream and divide by 500, but that will only tell you the AVERAGE thickness of a sheet, not the thickness of an individual sheet.

    Save yourself a lot of grief and call off the search for a perfect marketing ROI model.
  • Posted on 12/31/2005 at 5:13 PM Author
    Thank you to all who responded to my question. You all gave me more to think about and maybe even a little more insight into the situation.

    mgoodman I understand what you are saying. Many of the models I have reviewed look a bit complicated and I am still not convinced they will back up my recommendations or turn me more in a certain direction in some cases. I will continue to review some systems like banalytics suggested, but not to the point of an all out search.
    I still have some hope that I will find a model or one is being developed today will become easier to use, understand and better at assisting in predicting and forecasting. In the end I understand that no computer model can replace good research, knowledge and insight, maybe help, but not replace.

    HAPPY NEW YEAR EVERYONE!!

    Thank You....
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