‘Chilling, provocative and inspiring – you can’t ignore the logic’
– Robert Shaw, Professor of Marketing Analytics, Cass Business School
Marketing without measurement is myth. Until now, marketers have been flying blind. Even the big brands that can afford to pay consultants for data modelling and forecasting are only getting snapshots of what’s been going on, retrospectively, once or twice a year.
How different would life be if that kind of analysis and predictive power could be brought to bear on all the day-to-day business decisions marketers have to make?
What if powerful modelling tools that were as easy to use as Excel or PowerPoint could be made available on every marketer’s desktop?
What if you knew, on the basis of your company’s data and past experience, whether or not you should take up a last-minute offer of three ads for the price of two, and whether cutting your prices would be an inspired move or commercial suicide?
Media costs are high, so the numbers can be huge. Nowhere else in business are millions invested – or gambled – with so little analysis and scrutiny.
Bringing rational accountability to marketing is not about destroying the magic or erasing the flair. But it is, potentially, giving the marketer a new power to fine tune campaign spending, to demonstrate the clear consequences of specific initiatives and to stand up for an optimised budget when the knives are out and the board is looking for easy savings.
Glenn Granger is a renowned expert in marketing analytics, modelling and forecasting.
He founded a highly successful consultancy, Edge, which was eventually acquired by Accenture, and has tackled marketing effectiveness projects in 30 countries, working with many top agencies, consultancies and brand owners.
He is now one of the leading proponents of the ‘rational marketing’ revolution.