turning data into actionable insight.
Additionally, it has
recently moved to phase two: understanding why things happen, what is
working
at an optimum level and what’s not – in real time. This challenge required Marketing Effectiveness Technology (MET), and Expedia has turned to MET
provider
marketingQED for this phase of its development. John Dawson, co-founder at marketingQED, who presentied one of the hub workshops at BrandMAX (see above).
‘We knew that the science existed to enable marketers to measure the effectiveness of their marketing efforts,’ says Dawson, explaining the ideas that power marketingQED’s software. ‘We had also seen that when marketers acted on this information, they could really improve the performance
of their brands. However, we also knew that the existing approach to solving this puzzle was expensive, slow and difficult to do.’
So Dawson and his partners decided that to solve these puzzles, companies weren’t going to go out and hire hundreds of rocket scientists who could work the slow, expensive software favoured by academics. Instead, they believed that simple-to- use tools were exactly what marketers needed. ‘That’s why we started marketingQED – to make the insight accessible. Quickly and easily,’ Dawson.
adds
Thanks to this approach, Expedia has been able to use analytics for competitive advantage – and understand the true ROI of its marketing on a continuous basis.
MarketingQED – the brand optimisation test
When high ROI does not lead to marketing effectiveness: marketing QED
brings fantasy brand optimisation to life at BrandMAX.
Delegates at BrandMAX were
challenged to put their money where their mouths were in a fantasy brand optimisation workshop, at which marketingQED showcased the science behind marketing effectiveness technology.
In the hub session, delegates were given the opportunity to adopt the role of a fantasy brand director with a decent-sized budget to spend on media, and, thanks to marketingQED’s advice and approach, they soon discovered if they were spending wisely. The interactive workshop enabled delegates to discover how brands
like Expedia and Orange can work out how their marketing decisions, and other factors, such as competitor actions affect their business performance, and thus predict their next move.
‘We planned this session to
share top tips for how to optimise marketing spend. By using an interactive workshop approach to bring an example to life,’ says John Dawson, chief client officer at marketingQED. ‘You get to see what you need to make the right decision and, more importantly, what you should definitely not use. You may be surprised to know that a high ROI is not an indicator of
where to place your marketing spend.’
One of the key advantages of
QED’s approach is that its software puts easy-to-use tools in the hands of marketing teams, so they can have the analysis, far more quickly (sometimes weeks quicker) than with traditional consultative and modelling methods. This makes it easier to judge which marketing messages work and which don’t, so you can refine your campaign.
‘BrandMAX, was a great opportunity for us to demonstrate the best ways to get the best returns from your spend and argue your case in the boardroom,’ adds Dawson.
John Dawson chief client officer, MarketingQED
This article first appeared in Marketing Magazine
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56