The Future of Marketing Measurement & Optimization: Insights from a Leader
We are constantly pushing the boundaries of analytics to drive faster decisions and growth for our customers.
We’re happy to share that last week, Analytic Partners was recognized as a leader by Forrester in The Forrester Wave™: Marketing Measurement and Optimization Solution, Q3 2023 report.
The Forrester Wave™ report is a comprehensive evaluation of the industry’s top vendors, researching, analyzing, and scoring them on 38 evaluation criteria. Analytic Partners is top ranked in the Current Offering and Strategy categories among all evaluated vendors.
It was gratifying to note the many areas in which Forrester identifies Analytic Partners as a leader, with the highest possible score across 26 criteria including, and the highest ranking in the following criteria groupings:
- Business Scenarios and Impact
- Technology Platform
- Client engagement and Services
- Measurement Methods and Management
In the report, Forrester states, “Analytic Partners’ strength is its ability to commit and deliver performance insights using its core commercial mix model, marketing expertise, and its GPS-E analytics platform. It’s ROI Genome, an industry-specific predictive ROI performance database, provides up-to-date marketing benchmarks across industries and marketing objectives.” We certainly agree.
Where are we today?
Let’s take a step back: where is the marketing measurement and optimization (MM&O) market today? With the continual rise of data deprecation and user privacy laws, brands are challenged with data sourcing and management. And as the pace and scope of change accelerates, many businesses recognize the significant challenge with adoption of analytics for decisioning. These are two of the most common challenges that companies in MM&O space are trying to help brands with today.
What does this mean in practical terms? While businesses recognize that the customer is at the center, many MMM/MTA programs seek to answer the question “is my advertising working” and produce backwards looking, report card analytics.
Analytics are often siloed, focusing on measuring one campaign or one channel. This is a partial view and is fragmented. It misses the complexity of the real world. Customers don’t make a purchasing decision based on one engagement with a brand, but rather on multiple touchpoints and experiences, many of which aren’t within the brand’s control (think economic environment, accessibility or location as just three examples). For that reason, analytics and measurement must go beyond just media or marketing to provide forward-looking recommendations that evaluate the entire business, and internal and external constraints, to drive growth.
The future is commercial intelligence
Marketing is the heartbeat of the company. However, marketing is often measured in isolation, when it influences and coordinates decisions across a variety of business units and departments to drive growth. It should be measured in the full context of the commercial business.
To systemize this wider decisioning system, brands need commercial intelligence. Commercial Intelligence incorporates brand, customer, product, operational and external factors to provide strategic and tactical recommendations that drive commercial growth. It breaks down organizational siloes to include multiple stakeholders for more impactful decisioning. This is the key to growth for brands and it is important that every measurement approach incorporates this full customer view.
However, any organization who wants to do this must consider whether they have the right talent pool and technology to make it possible. Our customers choose Commercial Analytics solution to help them achieve commercial intelligence. Customers get a complete view of their business to drive data-driven insights that improve forward-looking decisioning and increase value for their business.
The future is bright
As a leader in marketing analytics, your mission is simple – continue to turn data into expertise. We want to enable brands to make ever stronger brand-customer connections and support our customers in creating a competitive advantage and deliver growth. We have already seen that when companies adopt data-driven decisioning, they benefit from 5x the growth vs those who don’t. As we expand and deliver data-led cultures that truly incorporate the total landscape, we’re accelerating growth for ourselves and for our clients.