By Dan Eggleston | MMA SVP Strategic Accounts
Conferences are always a great place to not only network and learn new things, but also to get a pulse on the industry we live and breathe. The reality is that many of the speakers that show up for industry conferences are in fact the thought leaders that are ushering in new approaches and new paradigms for both effective marketing and measurement. Close observation of the various discussion topics and buzz words that are continuously repeated across speakers are important leading indicators for where our industry is headed. For all of these reasons, I was looking forward with anticipation to be a featured presenter at this particular marketing conference to both listen as well as speak about some of the key issues that face our industry and how they’re being addressed by key thought leaders.
Analytics – Pervasive in Marketing Organizations
When it comes to mining timely, accurate insights through predictive analytics it begins with the all-important data. Data sources capable of providing accurate, guiding and forward looking insights are the foundation on which value is built. Yet one of, if not the biggest challenge with predictive analytics lies in the burden and strain it can put on a client and their resources. It’s more common than not to hear…“Everyone here has day jobs. I don’t know who to or where to go in order to find all the data. How are we going to pull this together in time?” And everyone knows that if you leave key data out, you risk misattributing or improperly evaluating key ROI metrics and benchmarks that can have an impact on investment and re-investment decisions.
For twenty-five years MMA has been managing diverse sets of data across a wide range of industries. During that time the company has collected literally 10’s of thousands of data streams spanning petabytes of data in order to support client marketing, brand equity, pricing and forecasting initiatives… and learned a great deal about being able to quickly and efficiently bring lots of data together to drive predictive analytics. As a result the company has developed unique tools, capabilities and perspectives into what is needed and how to quickly and more readily streamline and integrate the many streams of data to make it less burdensome not only to MMA, but most importantly to clients. In 2014 MMA married its leading data infrastructure with its 25 years of expertise to produce a revolutionary breakthrough for data in the space – enter FLOW. (more…)
Twenty-five years ago this month MMA was founded becoming the first company to commercialize marketing mix modeling. Back then the focus was heavily on traditional media – TV, radio, print, price and promotion. The data collected rarely comprised more than a few gigs and the results were used to support media planning and flighting of GRPs within the brand groups in order to improve marketing ROI.
Fast forward a quarter-of-a-century. Online and mobile devices deliver targeted messages to millions of consumers in real-time that are harmonized with traditional media, sales, operations, macro-economic, competitive and other rich data sources. Terabytes of data are quickly shrinking the ‘data white space’ and are processed into high-value, predictive insights which are utilized by executive, marketing, forecasting, finance and logistic teams.
Digital and mobile command, an increasingly larger portion of consumers’ attention as well as advertisers, are challenged to understand how these new marketing venues work within a more fragmented, faster moving and complex marketing world. In order to understand the true impact of marketing the synergies between traditional and emerging media need to be fully understood. Which drive demand and which drive conversion? How can they best work together?
MMA will host its Annual Business Conference at the Eden Roc Hotel in Miami starting on Wednesday, May 14th and running through Friday, May 16th.
MMA teams from around the world will be in attendance as MMA launches the next phase of its global solutions program. The focus of the conference will be on newly developed data solutions designed to rapidly process diverse consumer and marketplace data sources, as well as enhancements to MMA’s already industry leading analytic capabilities. Pat Cummings, MMA’s CEO, said, “We are committed to significantly reducing the time required to deliver predictive analytics in order that our clients are better positioned to integrate them in an ongoing manner with the most recent data and insights available.” (more…)
Marketing strategies have out-smarted and out-paced analytics capabilities at many companies, resulting in millions of dollars in unproductive marketing and media investments.
The past 10 years have seen a dramatic shift in how brands engage with consumers and of equal importance, how consumers are interacting with brands. This is making it more challenging for marketing-driven companies to determine how to best identify, reach and stay relevant with their most valuable and high-potential consumers. Marketers are faced with having to measure and leverage an ever expanding and fragmenting set of media touch-points across the paid, owned and earned spectrum as well as across a variety of devices to drive brand metrics, consumer engagement, sales and profit. Silo based, point in time analytics that measure the effects of individual media vehicles have led marketers to decisions that are inherently biased toward the silo that the media is evaluated within. (more…)