Baïdy Sall de Pracans, Advanced Analytics Manager at GroupM France Business Media Science and a specialist in Marketing Mix Modelling and Marketing Attribution shared with us his thoughts on what is happening in the world today and gave us some valuable advice.
Baidy also worked within a big Marketing Agency mainly on CRM subjects (Loyalty Scheme & Customer Segmentation) and within a major French Bank on some Customer analytics teams (Customer Value, scoring, Vintage Analysis).
How is the recent COVID-19 outbreak impacting your day to day work life and what steps are you taking to cope with this?
As everyone has adopted the remote work now, we are doing our best to deploy all the needed solutions to enable us to work in teams, for instance, we are heavily relying on collaborative tools such as Microsoft Teams and Skype. We are also making sure to devise the needed reports to share our progress on the projects at hand with the team and this has resulted in a more cooperative approach.
Another important aspect to deal with the current situation, is to also make sure we are reassuring our clients regarding our capabilities to support them through these turbulent times.
According to you, how will the COVID-19 outbreak impact Marketing, Marketing Measurement, and Marketing Mix Modelling in particular?
There will be a significant impact on the behaviour of consumers, as a matter of fact, this period is showing that there are more important things than the overconsumption. For instance, we are following on social platforms that things are changing.
However, the most important element in this period, is finding the pertinent indicators for each client to be able to measure the impact of this outbreak on their business, which is driving us to collect more information on the progress of the outbreak.
How do you think Marketing Measurement can contribute to overcome the economic consequences of this crisis?
Marketing measurement now is a rather ‘Tool of War’ as we need more than before to demonstrate the real and concrete impact of these times. As a matter of fact, it is very strategic to have the right indicators and to measure their impact on the changes in consumer behaviour and I am concerned that some clients would move towards a direction where they will put on hold their measurement efforts.
Looking at our reality now, most of businesses will be directly impacted with a projected loss of 15-20% of their annual revenue and even more for some cases, however, it is also interesting that for some other businesses, there is a real opportunity to increase their market share.
I am seeing three different approaches to the situation, around half of our clients are postponing their marketing measurement projects due to partial unemployment, 30% of our clients are maintaining their measurement efforts, and the remaining 20% which are seeing a great opportunity in this challenge are open to measurement but not necessarily right away.
We believe that here comes our role to reassure our clients that we have the needed capabilities to be on this journey with them to measure the impact of this period on their businesses and assist them in the strategic decisions they have to make.
What can we do as a community to prepare to help the industry thrive again after this crisis?
There are currently a lot of interesting initiatives, where technology providers for instance are equipping the scientific community with the needed technology to assist them in their endeavour to find the right mechanics to stop the spread of the COVID-19.
“What we are witnessing today is the existence of a strong solidarity, where everyone is sharing their expertise and content with the community and allowing to make good use of the time we have today to learn for tomorrow.”
Any advice you would like to share with the community to cope with the COVID-19 outbreak?
Before anything else, we need to remain optimistic as after every crisis there is always an opportunity for growth. The post COVID time will manifest an interesting number of political changes and among those change there will be a big emphasis on the importance of shedding light on our health care systems, infrastructure, and even schools and bringing more investments where they should be.