The marketing and technology environment in 2023 is constantly evolving. Advertisers are rethinking their marketing strategies around the marketing mix. In this exclusive forum, Fifty-Five’s Marketing Science Director Arnaud Parent presents 5 key factors for good internalization of marketing solutions.
With constant changes in the marketing and technology environment, as well as a desire to regain control of their data and marketing decision-making process, many advertisers are rethinking their systems to measure and optimize effectiveness.
For some, prioritization of expenses – or a certain maturity in terms of data management – leads them to be especially considerateinternalizing these marketing solutionsbased on principles Mixed marketing Modeling (MMM), that is, by measuring accurately KING of every action and marketing channel redistribution of budgets. However, it is not easy to internalize this complex work, which is actually carried out by experts from several institutions and external partners.
1) Integrate into business processes and management
In this exercise, of course, it will not be enough to replicate internally what is done by its specialized service providers. Rather, it leads to the creation of a silo, limiting the reach of a few internal experts. To get the most out of internalization, you need to register it marketing project more broadly within the management of the company itself. Information and marketing decision making should go hand in hand.
Integration takes place on two levels. From one side,“technical” integration, refers to the platforms, technologies and functions to be implemented within the company’s systems (data platforms, cloud solutions, Data Science / MLOps platforms, etc.). The goal? Access the most relevant information in real-time and facilitate transparency and information sharing across all layers of the company. On the other hand, “business” integration. More complex, it relies on using existing internal expertise customer and sector knowledge (ultimately trade) to consider marketing issues when integrating them into the company’s decision-making schemes.
2) Optimize data relevance to build relationships around results
The validity of the solution and its results is, first of all, a reflection of the relevance of the data and analysis on which it is based. The interest is not to gather information, but to focus on specific elements that allow a better understanding of the market, its dynamics and mode of operation. various marketing levers.
A number of measures can be taken for this. The data / analytical curation it allows to enrich the knowledge of consumers, brands or the most effective marketing levers, to define new dimensions that allow a better understanding of the market reality. Searching for better granularity of data to understand the required level of detail makes the results more actionable. Finally,automating certain aspects of data management and processing can be an effective solution to limit human intervention (which is often time-consuming) and thereby encourage adoption by teams.
3) Customize your measurement and modeling solutions
Internalization the optimum should be based on the specific needs of the company. Even if the solutions are based on pre-existing modules and technologies, it is important to customize them and make them real marketing decision support systems by adapting them to the specific problems of the advertiser. Multi-source, multi-method, internal solutions are in fact multi-purpose, covering various strategic needs of the company, starting from the optimization of resource allocation, expressed by means of operative management of the implemented campaigns.
Finally, let’s not neglect the explanatory power of solutions: it’s important to present comprehensible conclusions or recommendations. That’s for sure black box model of marketing what must end.
4) Build a network of multidisciplinary skills
From the earliest stages of the project, it is important to mobilize all teams who will be stakeholders and who can give value and visibility to the solution through their complementary expertise. So, in addition to data, analysis and modeling experts, it is important to be able to rely on themInvolvement of IT teams (data architecture optimization, automation, maintenance, etc.) or even marketing and communication teams (adjustment to campaign objectives, preparation of media proposals, etc.).
During the project development and implementation phase, it may be interesting to be supported by consulting firms specializing in change management and/or management and operation of information platforms.
5) Step by step progress
one marketing analysis and effectiveness solutions internalization project it cannot be built in a day. Several successive development phases involving the right stakeholders at the right time will allow a gradual and controlled evolution. Because of this, build a diary Intelligence is paramount from the start.
For each phase (sometimes lasting more than a few months), be sure to define a clear scope, including an initial focus on a hard core of data (to be expanded or refined over time) and a simple modeling methodology and proven. In short, limit the risks by preferring a long-term internalization and step-by-step development adapted to existing problems and experience.
Author: Arnaud Parent Since 2021, he has been a Marketing Science Director at a fifty-five consulting firm. An expert in marketing decision support solutions and methodologies for over 30 years, he was previously responsible for R&D for Havas Media Group.