Many top performing brands have become expert at delivering, measuring and optimizing addressable media for decades. It's the "groove swing" of direct marketers. While its' infancy was found in direct mail, customer service and telemarketing, many brands have developed a rich infrastructure of marketing tools, process and insight that yearn to be fed to additional media outlets. It's more a function of unlocking the value that is trapped in organizational silos. Brands need an executive vision to accelerate the enablement of these marketing assets in the light of their possibility in the new, digitally connected world we find ourselves.
Walk, Crawl and Then Run Fast
Done properly, media mix optimization more than pays for itself. But when you start your MMO journey, proceed at an incremental "crawl, walk and run" pace with your differentiated customer strategy. Then, rev the engine of your new media optimized machine as you adjust it.
Like any journey, you'll need a destination and roadmap to guide your way as you deploy the appropriate engagement strategies and tactics. This must be done while balancing customer demands and organization goals. Throughout the journey, you'll identify ways to reallocate budget from less profitable audiences and media channels to more profitable ones as you measure and refine your tactics.
This is a vision of high performance marketing and advertising in the new reality of our digitally connected world. A place where media mix optimization is increasingly a recurring, real-time and integrated component of advertising efforts. The objective is to develop capabilities that identify high value customers and prospects, develop rich analytic models and data forms to identify those most-desired individuals. They must then logically connect their marketing systems, enabling stimulus and response to be optimized across the range of customer engagement so that at the time when it matters the most—that moment of truth, the microsecond you have to optimize the next engaged customer experience—you've made the right media investment decision.