Six pioneers of marketing effectiveness past and present

March 1, 2022By Simon FosterAdvertising Evaluation, General, Marketing Effectiveness, Media Evaluation

I recently wrote this piece for an m/SIX newsletter – it summarises the contribution of six people to the development of marketing effectiveness. SIX pioneers of marketing effectiveness past and present 1. Claude Hopkins, the copywriter who earned $2.7m per year selling Bissell vacuum cleaners We all talk about market effectiveness and marketing science, but … Read More

What is Marketing Mix Modelling?

November 20, 2021By Simon FosterMedia Evaluation, Media Planning

Marketing Mix Modelling or MMM is a regression-based approach to identifying the drivers of sales for a business or brand – making it a form of attribution.  For many advertisers it is used to understand and optimise the effects of paid media in generating sales outcomes.  Unlike many other forms of attribution, MMM aims to … Read More

Adstock and Diminishing Returns: non-linear advertising effects

June 7, 2020By Simon FosterMarketing Effectiveness, Marketing Training, Media Planning

Adstock is an important concept in marketing effectiveness. It was first quantified by Simon Broadbent in the 1970s. Its value lies in helping make marketing and media mix models more accurate by recognising that advertising and media investments have non-linear “carryover” response effects. These non-linear effects are normally grouped into two areas: the delayed effect … Read More

What is full funnel attribution in marketing?

March 21, 2020By Simon FosterMarketing Training

Imagine this situation. You work in a large organisation as a digital marketing manager. You observe a sharp increase in GA direct, organic and brand generic web traffic. You want to explain the uptick but there’s nothing in your digital data that can explain it. However, you do know that your brand launched a TV/AV … Read More

What is RFV analysis?

October 16, 2019By Simon FosterMarketing Training

RFV stands for Recency, Frequency, Value. It’s a technique database analysts use to segment their customer data by plotting customers into a three dimensional space using three metrics: Recency – a measure of how recently a customer last purchased. Frequency – how often they purchase within a given time period. Value – the amount they … Read More

What is TV attribution modelling?

July 5, 2018By Simon FosterDirect Marketing Training, DRTV Training, Media Buying, Media Evaluation, TV Media Planning Training No Comments

TV attribution modelling is an analytical process used to assign web or phone response to TV spots. When this analysis has been undertaken it is possible to aggregate all the spots and matched response into a database and report which TV channels, days of week, times of day and creative edits are most responsive or … Read More

Binet and Field – Is it really 60/40

July 2, 2018By Simon FosterMarketing Training No Comments

Whilst the endeavours of Les Binet and Peter Field have helped the industry make huge strides in how it looks at advertising effectiveness, and particularly the importance of long-term brand building, the industry’s unquestioning acceptance of their suggested 60/40 “brand” / “activation” marketing budget split makes me nervous. Although I don’t have the raw data … Read More

How to calculate return on marketing investment (ROMI)

June 22, 2018By Simon FosterMarketing Training

The basic formula for calculating return on marketing investment (ROMI) is: [[sales-costs]/marketing costs] Where: Sales is the revenue generated from marketing activity recorded as sales to customers Costs are the costs of generating those sales (cost of goods sold or COGS) and the costs of marketing. Some notes: How carefully you define sales and costs … Read More