Evaluating the ROI of Your Advanced Measurement Tool
Most organizations spend more than half a million dollars annually on advanced measurement tools such as multi-touch attribution (MTA) or media mix modeling (MMM). However, if your marketing technology stack is not driving meaningful change in behavior, this investment is of little to no value. Marketers need to hold advanced marketing measurement technology accountable for the ROI it yields, just as they would with any other investment. The best way to do this is with a team of experts dedicated to surfacing the insights needed to move your business forward.
At Ovative, we are focused on helping our clients translate measurement insights into meaningful actions that drive incremental revenue. That is why we offer customizable, hands-on service support with every implementation of our Marketing Analytics Platform (MAP).
Leveraging the insights and service support from MAP, our clients are empowered to take the following action on their media:
- Media Mix: Remix and reallocate media budget across channels based on enterprise return optimization
- Channel Optimizations: Optimize within channels to drive the best enterprise ROAS (geo, device, category, audience, promos, etc.)
- Customer Strategies: Develop digital customer strategies to increase health of customer file (e.g., acquire more new customers or reactivate lapsed customers)
- Profitably Scale: Profitably scale media spend across media channels (lower-to-upper funnel), within both existing and new tactics/media
We track the incremental effect these actions have on your customer file and your bottom line, so that you know the precise ROI of your investment.
Our average client experiences a 10-15x return on their MAP investment in Year 1, and this return increases over time as activations become increasingly sophisticated.
If you’ve invested in an advanced marketing measurement tool and can’t articulate the value it’s providing, challenge yourself and your partners to assess this. If you or your partners are not able to articulate the return-on-investment you’re getting from the tools you’re using, Ovative Group can lead you through the process of re-evaluating your investment and finding a better solution.
Ovative is a digital-first media and measurement firm seeking to transform the measure of marketing success. At Ovative, we help brands move the needle. We are curious. We value your brand. We want to see you succeed. Connect with us to learn more!