Mumbrella360 video: Data-driven Marketing Gone Wrong (and how to do it right)
In the wrap-up of Mumbrella360 on June 7-9, 2016, we revisit highlights from the annual event.
In this session, Christian Bartens, CEO and founder at Datalicious reveals how to use data to get the most from your marketing strategies.
Bartens discusses: How to make the most out of a limited budget; why marketers’ perception of the most effective channels is wrong; customised attribution, and why allocating some of your budget to testing pays off.
Timeline
- 0:40: How to make the most out of a limited budget
- 2:00: Identifying which part of your marketing budget is a waste
- 3:30: How does Australia compare with other countries in terms of budget effectiveness?
- 5:00: Are marketers spending the money where consumers spend their time?
- 7:00: Why marketers’ perception of the most effective channels is incorrect
- 13:00: Why ROI-based attribution approach is important in business plans
- 17:10: What’s the biggest barrier to marketing optimisation?
- 20:00: Why customised attribution model is a great asset for your campaign
- 27:30: Why re-analysing your data regularly is crucial
- 28:30: The importance of allocating some of your budget to test and learn new approaches
- 33:00: Audience questions
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This is an excellent presentation by Mumbrella360 and Datalicious. Generously shared data insights too.
I’d love to see the next level of accountability and performance by adding some robust assessment of the creative campaigns as an overlay. Add that to some buying efficiencies by channel and some independent thinking to keep all strategies objective too! Now that’s my world. Love it.
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Why should consuming time be related to media spend? That does not make sense. When will marketers understand that quality matters more than quantity? Perhaps people spend only 1% of their time watching TV vs 10% using laptops. If TV is 20 times more effective, it would still make sense to spend more money there. This study makes no sense.
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Hi PeteLePede,
Why should consuming time be related to media spend? One of the goals of marketing is to reach more people with greater probability and convey the intended messaging. If someone spends only 1% of their time on TV and 10% of their time on laptops and I want to convey a message or raise brand awareness (which is also a critical step in a customer journey), one increases their chances of reaching out to the desired audience by relying on the medium with the longer time exposure.
Mike
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