We talk a lot about measuring the effectiveness of marketing investments here on the blog. For one, it’s something we’re passionate about and enjoy doing. Secondly, and even more importantly, we believe it’s something that brings enormous value to your business. In late 2014 we had a conversation with a business about our Return on Marketing Investment (ROMI) work and they asked a very important question (which also led to a blog article), “Why isn’t everyone doing this?”
We believe one of the reasons is businesses don’t understand how the process works and have a hard time visualizing what the end result looks like.
For this reason, and many others, today we are releasing the Return on Marketing Investment (ROMI) whitepaper. In a nutshell, think of ROMI as an advanced form of Media-Mix Modeling (MMM). At the end of the whitepaper you’ll have access to a demo simulator where you can play around with the data and see your results. It’s a very user-friendly way of looking at how different variables and spending levels impact your desired result (e.g. Sales).
Is this whitepaper relevant to you?
If any of these questions are important to you, then this whitepaper will be worth your time:
- Where should I spend my next marketing dollar?
- Have I reached minimum / maximum spending thresholds for media X?
- What marketing efforts “work better together” than individually?
- How does the effectiveness of my marketing activities change as market conditions change?
- What are the key drivers of underlying demand?
- Am I spending at the optimal level (total spend)?