#E08 – MEASURING ROI IN THE MARKETING MIX
One of the biggest challenges for today’s CMOs is to understand how and where to invest their marketing budgets – which channels, formats and messaging types contribute the most and how should you balance the money and resources between the different channels and activities in the marketing mix?
In a digital world, where we have tremendous amounts of data at hand, many brands have focused a lot on short term sales activations that lead to immediate wins. In an increasingly competitive market, however, this makes it harder to grow and increase profit in the long term. To succeed over the long term, brands need to continue putting much focus on building a strong brand – and in this episode, you’ll learn why.
We also cover topics such as:
• How marketing mix modeling can help you optimize the marketing mix
• The most important concepts of marketing mix modeling
• Why you should never measure marketing ROI channel by channel
About Christopher Engman
Christopher Engman is a global entrepreneur, investor, author and expert in driving rapid revenue growth. In his most recent book about Megadeals, which he wrote together with J. Åberg, the authors combine insights from years of marketing and sales experience with more than 100 Fortune 500 companies to propose a set of hypotheses and provide a powerful formula for brands to realize long-term success. Christopher is also a frequently hired speaker in marketing and sales and has written a book about forecasting of the Swedish state budget.