Andy Hasselwander, Chief Analytics Officer
In today’s competitive environment, businesses need to continuously measure the effectiveness of their marketing efforts to ensure efficient allocation of resources. However, marketers struggle to holistically measure the return on their investments—from upper funnel brand efforts to lower funnel demand generation. Moreover, marketing data remains scattered across different systems, creating a unique challenge for data engineers tasked with integration. On top of that, increasing privacy-related tracking restrictions such as GDPR, deprecation of third-party cookies, and app siloing have made individual-level tracking outside of a company’s domain virtually impossible.
This is where MarketBridge steps in. The company provides solutions to help marketing, sales, and CX leaders measure and optimize go-to-market efforts in a consistent, reproducible, and flexible modern data science framework. Today’s go-to-market executives are spending more and more of their time trying to measure and optimize marketing across all channels, with the ultimate goal of identifying the right mix to maximize return on investment. However, it’s getting harder and harder to understand marketing’s effectiveness, with an ever-increasing set of questions and a dynamic data landscape. Leaders must understand the impact of advertising, earned media, traditional demand generation tactics, digital performance marketing, and grassroots efforts, all while navigating privacy restrictions, data integration, ever-changing marketing software, and a rapidly changing media supply landscape.
Our unique, econometric approach to MMM and MTA, provides clarity to a seemingly confusing landscape, and provides confidence to executives in the marketing budget allocation process,” says Andy Hasselwander, Chief Analytics Officer, MarketBridge.
One rule of thumb we have found relatively consistent across our clients is that in most performance channels, over- and underinvestments are usually in the 10-20% range on average. So, adjusting to optimal efficient frontier typically drives 10-20% improvement in aggregate cost per acquisitions in the shortterm. Of course, there are always counterfactual and market conditions that change through time.
Yet, oftentimes, the bigger opportunity for marketing improvement is tuning up-funnel brand investments over the long term. It takes months or even years to impact consumers’ minds, but with the right brand exposure, psychological changes happen over time. Marketers need to use multi-stage techniques that account for the attitudinal changes impacted by brand investments. “When marketers only analyze short-term effects, the modeling doesn’t show the complete picture and often displays poor return on investments and high cost per action (CPA),” says Andy. As a result, they usually make inappropriate decisions. The foundation for MarketBridge’s services lies in its “Go-to-Market Science” methodology, ensuring rigorous, databacked insights to drive key business decisions.
MarketBridge prides itself on an open-source, reproducible approach. Its models and data pipelines are completely open to clients in GitHub repositories—meaning clients can make desired changes to these models based on their needs and on their own terms. The company always focuses on building long-term relationships with clients who care about quality and reproducible results. MarketBridge’s team continually works to enhance their tailored and customized offering with scalable ongoing management. They are currently developing a reactive business intelligence layer that allows leaders to visually see and experience how changes in spending lead to various returns.