Forrester Research reports that implementing unified marketing measurement to optimize marketing can drive a 15 percent efficiency gain in marketing spending. Which is good.
Over the past year, Keen's solution has consistently driven a 25 percent improvement across our customer base. Which…is better. Consider what this means in real dollars for, say, a consumer packaged goods brand.
A "For Instance" to Make the Point
Imagine for a moment what this could mean to a $200 million brand with a 60 percent operating margin. Keen’s data recommends an optimal marketing budget of 41.6 percent of operating profit or a $50 million marketing budget. A 25% boost to a brand of this size would equate to:
• $50 million in incremental sales
• $30 million in additional operating profit
All for the same budget.
Clearly there is money to be made from unified marketing measurement. (Don’t take our word for it, even Forrester's 15 percent is nothing to sneeze at.)
So, Why Isn't Everyone Investing in Measurement?
Despite this compelling upside, unified marketing measurement represents just 28 percent of the marketing metrics industry, and companies are investing a paltry 0.2% of their total marketing spends on measurement and decision support (again thanks to our friends at Forrester).This leads to the obvious question: Why are growth-oriented companies leaving money on the table?
The opportunity cost is real...and every hour it clicks upward.
Let's go back to our CPG brand. With $30 million in opportunity there for the taking, the cost of inaction is a very painful, $82,000. Every. Single. Day.
On the other hand, if that same brand acted with alacrity and invested in unified measurement today they’d recoup their investment within 24 hours.
There's Still Time
And that brings us to the time / money equation. Simply put: It’s not too late to impact your 2019 marketing plans. Because not only can a unified marketing measurement system improve outcomes by helping you understand what, when and where to invest your marketing budget; we also can get you up and running in these last few weeks of the year.
And you can enter the New Year enriched by greater efficiency, more revenue and a whole new view of the opportunity ahead.
Download our free guide to improving your brand's performance in 2019: