NEWS9 October 2024
UK – To measure marketing effectiveness in a world where data and advertising are becoming more fragmented, marketers must adopt a ‘learning culture’ rather than seeking a ‘silver bullet’, according to a report published by the Institute of Practitioners in Advertising (IPA).
In the report, ‘Making effectiveness work’, authors Simeon Duckworth, Neil Charles and Duncan Stoddard of the Melt Collective outline a new approach for measuring effectiveness – Model-Experiment-Simulate-Implement (Mesi).
This approach can be used to inform tactical, campaign and strategic decisions, according to the report, launched at the IPA Effectiveness Conference on 9th October.
The Mesi approach advocates four steps: firstly, starting with a model, such as marketing mix modelling or consumer modelling, to map marketing effectiveness and highlight where there is evidence to suggest changing the communications plan may be more effective.
Marketers should then use experiments to analyse the considered change and simulate the impact of the new plan. The final step is implementing the findings of the experiments to adjust and refine attribution and marketing mix modelling.
Laurence Green, director of effectiveness, IPA, said: “This report aims to help steer marketers through the effectiveness thicket, using the core techniques of marketing mix modelling, experiments and attribution. What they will find is that the solution lies more in establishing a decisive, effectiveness culture than in chasing the perfect evaluation technique.”
Simeon Duckworth, founder of the Melt Collective, added: “There is no silver bullet to measure marketing effectiveness. Each approach has its role and its limitations. For most marketers, the solution is to focus more on the process and culture of active learning rather than on specific techniques. Our report recommends a set of practical tips, starting with a formal Learning Agenda, to kick-start that culture.”