Adstock and Diminishing Returns: non-linear advertising effects

June 7, 2020By Simon FosterMarketing Training

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

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

How to write a better Marketing Plan

June 17, 2018By Simon FosterMarketing Training

Your marketing plan is an important document, it will help convince others that your business is viable, it will show that you have a plan to grow your business and it will give you a framework in which to build your business. Writing a better marketing plan Most people can write a basic marketing plan. … Read More

A simple definition of marketing

June 6, 2018By Simon FosterMarketing Training No Comments

A quick thought for those who want a simple definition of marketing. There are a number of definitions of marketing. Here are a few of the better ones: Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.  … Read More

Understanding brand awareness, consideration and preference

February 13, 2018By Simon FosterAdvertising Evaluation, Marketing Training, Media Planning No Comments

Brand awareness is vitally important in the marketing process. As consumers need to be aware of a product and brand to purchase it, then the more consumers who are aware, the more purchases take place. This hierarchical approach, begins with awareness and moves through consideration and preference to purchase. This hierarchical path is sometimes called … Read More

I’ll second that B2B emotion

September 12, 2014By Simon FosterB2B Marketing, Marketing Training

For some critics, B2B advertising is too rational and doesn’t contain enough emotion. If that’s the case in 2014, then something’s changed since McGraw Hill ran this, perhaps one of the most famous B2B ads in the 1960’s.  This ad is 100% B2B and yet it is stuffed with emotion.  It plays on fears of … Read More