I read another article about marketing mix modeling today and the commentary from the usual market research wonks. I laughed. I scowled. I shook my head. I wouldn’t have laughed but for the 356% growth MMA has experienced from this type of analysis in the past 6 years and more importantly, the over $10 billion in incremental revenue our clients have attributed to the work we’ve done with them during the same period. Their numbers. Not ours. Their references. Not ours. When I thought about that I smiled.
Yet the drumbeat from the market research wonks goes on. And on. And on. The wonks hold conferences and pontificate. Oh how they pontificate. They ramble on about ‘the death of marketing mix’. They pound the doomsday drums around data and methodologies. They try to build bigger, louder drums. “Marketing mix is too slow.” “Marketing mix is too pricy.” “Marketing mix is too hard to ever get right because the data is so bad.”
THIS TYPE OF ANALYTICS, WHEN DONE RIGHT, PRODUCES MEASUREABLE VALUE — BIG TIME
Last year five of our larger clients produced over $1,100,000,000 in incremental revenue on slightly better than $15,000,000 in investment. Their numbers — not ours. That’s better than a 70 to 1 return on their investment — arguably the, or one of the single best investments they made across all aspects of their businesses last year. Not surprisingly each renewed and have integrated the approach and solutions as an integral part of their business planning processes. And it probably won’t come as a shock that they decided it was worth further investment. As a whole they grew 45% with us over last year. And why not? It’s fun making money! And that’s exactly what they are doing.