Will the adoption of MMM and MTA increase or decrease given the looming macro economic conditions ?
I have been having interesting conversations with my clients and prospective clients of late.
One question that is on everybody’s mind is “Will the adoption of MMM and MTA increase or decrease given the looming macro economic conditions ?”
Here is my take :
1) Being prudent with marketing spends.
Organizations want to become more prudent with their marketing spends. They want to maintain same level of marketing spends and yet retain same (or higher) levels of sales (or other KPIs).
MMM is tailor made for scenarios like this. Budget optimization post MMM helps answer exactly this.
2) MMM’s time in the sun just arrived sooner
With Google about to pull the plug on third party cookies in 2023 and data privacy regulations in place, most brands have been looking at other methods to measure their marketing effectiveness.
Many marketers had opined that the adoption of MMM will hence skyrocket. I believe the impending economic conditions will make the adoption of MMM even quicker.
3) MMM will be the barometer every organization needs.
During these tumultuous times, every organization would like to constantly measure their Marketing ROI. They would want to know how best to deploy their marketing budget into various marketing media. MMM is the best MROI or ROAS barometer.
As they say, every cloud has a silver lining. The upcoming financial tough times will perhaps make organizations adopt more prudent marketing strategies aided by good domain knowledge and data driven methods.
I believe we all will learn to make more with less.
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LinkedIn: Ridhima Kumar
