Ogilvy, MarketShare Partners release multichannel media spend tool
In response to increasing advertiser focus on ROI, Ogilivy & Mather and MarketShare Partners are teaming up to offer marketing effectiveness tools measuring results and predicting optimal media spend across digital, direct, TV, radio and marketing channels.
“The ability to link marketing efforts to final business results is something that our clients have been asking for,” said Dimitri Maex, head of Ogilvy & Mather's global data and analytics practice. “The recession has accelerated that demand.”
The use of the measurement tools will vary from client to client based on the level of independent analysis required. Offerings range from a $1-million six-month custom analysis to a two-hour automated program with 80% accuracy, said Maex. The tool is based on MarketShare Partners' Compass tool, which takes marketing indicators and econometric modeling to run scenarios and advise best case marketing and budget plans.
“Statistics are not new,” Maex said, saying econometrics were first applied to marketing in the 1950s. “What's new is the automation in software, and that's what makes the new tool fast and affordable.”
Ogilvy has an internal team of 60 people dedicated to analytics, mostly focused on measuring traditional direct media and digital, according to Maex. The tool launched October 15 and several clients are already using the bottom tier. The company is negotiating with some of its larger clients about the higher-level analysis.
“Clients may dramatically change their marketing mix based on the outcomes of this analysis,” said Maex.