In our fifth episode of our Ask the Experts series titled “Agile Decision Making”, Claudia Sestini, Global CMO of Gain Theory, discusses best practices and advice for being agile in the face of changing priorities with a full panel of industry experts.
With regards to measuring marketing efficacy at speed, Claudia Sestini asks:
“Econometrics will always be the main stable of any marketing effectiveness toolkit for measurement. What other approaches can marketers leverage for increased agile decision-making as they look to course correct?“
Georgia Thodey, Head of Brand and Media Planning at NatWest Group
Matt Hill, Research and Planning Director at Thinkbox
Matt Chappell, Senior Partner at Gain Theory
- Prior to the pandemic, the variables of marketing measurement and effectiveness were relatively known, allowing optimization and forecasting with confidence. Now, we’re experiencing a world where marketers need to use the existing models and data we have and to embrace scenario planning.
- 2020 scenario planning has involved new marketing investment parameters to analyze at what point effectiveness begins to decrease with increased spend. This lets marketers know when to reduce advertising to a level of optimal effectiveness per spend, which both requires and enables marketers to increase agility in their planning.
- The scenario planning tactic is less about methodology and more about how agile marketers can use the data to look forward and make quicker decisions. There is an increased push for utilizing dashboards and platforms that bring results to marketers’ fingertips quickly, without the need for a lengthy econometrics reports.
- Free tools like the Demand Generator from Thinkbox are useful to gain insight and help marketers make faster, informed decisions.
- Consultancy backed decision making platforms such as Gain Theory interactive can also bring to life tactical decision making across creative, geography, market and much more.
Other topics addressed in the “Agile Decision Making” Ask the Experts Session:
- Media allocation decisions across brands
- How to pivot marketing strategy, at the right pace and place
- How TV advertising is changing for more agile decision making
To stream the full video click here.