Michael Kaminsky, effectiveness aficionado and Recast founder, discusses balancing efficiency and effectiveness in marketing, clarifying their definitions, challenges of measuring marketing effectiveness, embracing older methodologies like experimentation, moving away from last touch attribution, and the importance of using multiple tools for measuring marketing effectiveness
Maximizing marketing impact requires a holistic measurement methodology and considering upper funnel channels.
Breaking free from last touch attribution and embracing omni-channel approach unlocks growth and better insights into marketing effectiveness.
Deep dives
The importance of holistic measurement methodology
Focusing solely on easily trackable digital channels can limit spending potential on more upper funnel channels. To maximize marketing impact, a good holistic measurement methodology is crucial.
Understanding the difference between efficiency and effectiveness in marketing
Efficiency is about optimizing current dollars to do more with less, while effectiveness encompasses measuring the overall impact of marketing spend and expanding into new channels.
The shift towards omni-channel marketing
As the marketing landscape becomes more fragmented and tracking becomes harder, brands must embrace a more omni-channel approach, considering both online and offline channels to drive effectiveness.
Transitioning from last touch attribution to incrementality
Breaking free from relying solely on last touch attribution is necessary to unlock growth and explore new marketing channels. Emphasizing incrementality and conducting experiments can provide better insights into marketing effectiveness.
A discussion about balancing efficiency and effectiveness, how to properly measure your brand, why marketing mix modeling is great but maybe not for everyone, and so much more with effectiveness aficionado and Recast founder, Michael Kaminsky.
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