Despite overwhelming volumes of data and dozens of measurement methodologies, marketing leaders are still struggling to answer two essential questions:
- If we were to up our marketing spend globally, what kind of increase in sales can we expect and how should we allocate it across channels?
- How can I be sure we’re optimizing that spend to achieve business goals?
In essence, we’re trying to figure out the optimal mix of channels and the most effective tactics within that mix. Mix modeling, predictive analytics, attribution, agile marketing, campaign optimization, and other trendy measurement practices can help get to the bottom of these complex—but critical—questions.
So which measurement methodology should you use and when? What really works, and what’s not worth the hype? And how should your organization prioritize rolling out these techniques?