6 — Science: Apply advanced analytics to drive fact-based mix optimization

Why do advanced analytical approaches matter?

What is the perfect mix of marketing instruments and media? We have bad news, and we have good news. The bad news is that the perfect mix is a myth. It doesn't exist. The good news is that you are in a better position than any previous generation of CMOs to determine the right mix for a given set of strategic parameters and business objectives thanks to a growing treasure trove of marketing performance data. Analytics is the key that unlocks that treasure. We encourage you to upgrade your analytical arsenal to turn data into insight – and insight into action – quickly, flexibly, and on a granular level.

Let's look at some facts. Users perform more than 3.5 billion Google searches per day.1 A single user will create up to 25 megabytes of data over the course of a single hour of browsing.2 More than ten digital touch points3 are involved in a typical online purchase decision journey.4 Digital marketing already accounts for one-fifth of all marketing spending, and even traditional media afford increasing opportunities for tracking and targeting. For example, the number of users who stream TV over IP connections is growing at a rate of about 30 percent annually.5 Also, 84 percent of smartphone and tablet owners now use their mobile devices as a second screen while watching TV, and 27 percent look up product information online after watching an ad on TV. These ...

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