What is MarTech?
MarTech is a US Marketing Technology conference, designed to keep senior-level marketers up-to-speed on the latest developments in modern marketing. It also helps them identify, evaluate, and implement time-saving, profit-generating marketing technologies.
The event was supposed to take place on October 6th, 7th, and 8th in the US, but due to COVID-19, it was decided to make the experience virtual.
Our MarTech Experience
Our session took place on Wednesday, October 7th. Our objective was to explain how to Get Faster Data-Driven Insight from Marketing Mix Modeling Projects. The idea behind this topic was generated after the delivery of an Marketing Mix Modeling project conducted internally for one of our clients.
The COVID-19 pandemic has massively impacted consumer behavior, which consequently impacted our understanding of sales drivers, particularly seasonality and external factors. Marketing professionals need to adjust to these changes in a fast and efficient way and their marketing measurement projects need to keep up with the pace of the changes happening around them. Therefore, the objective of our presentation was to explain how to get faster data-driven insight from Marketing Mix Modeling projects, the outline:
- COVID-19 Impact on Measurement: Change in the media landscape and in consumer behavior due to the panic caused by the pandemic, and its impact on business performance across the globe.
o Disentangling the effectiveness of multiple digital and offline media.
o Channels: Changes in media composition, higher reliance on TV, radio, and digital channels.
o Adjusting to the new normal: Marketers needed to make swift adjustments to their media and advertising strategy to successfully adapt to the “new normal”.
- How Measurement Should Adjust: Measurement projects need to run more frequently to keep up with the market pace.
o Faster project delivery
o Agile methodology
o Robust measurement techniques
- Key Learnings: The key learning outcomes we wanted to transmit to our audience were mainly:
o How the COVID-19 pandemic impacted the Media Landscape
o How the measurement framework should evolve to address the new challenges
o Tips to address the challenges faced by the measurement industry
Our presentation is available for viewing on-demand and will remain available indefinitely. You will need to register to MarTech in order to able to watch the session.