Excerpts from Forrester Wave™: Marketing Mix Modeling, Forrester Research, Q3 2011
In the age of the Splinternet, marketers can no longer afford to run mix models only for traditional marketing channels. The future evolution of marketing mix modeling will be challenging as marketers increasingly demand nuanced models to track where and how their customers interact with a fast-increasing number of marketing touchpoints. Why is this happening now?
- Media consumption is increasingly fragmented
- The marketing accountability bar is rising
- The data deluge is just beginning
Marketing mix modeling vendor evaluation overview
To assess the state of the marketing mix modeling market and see how the vendors stack up against each other, Forrester evaluated the strengths and weaknesses of six of the top marketing mix modeling vendors. In our examination and evaluation, we weighted the criteria toward crucial areas that our senior marketer clients look for in a vendor, namely:
- Mature self-service software
- Collaborative tools
- Organized integration of new data streams
Leaders: Flexible Software And Digital Prowess
MarketShare. With its robust software tools. MarketShare ranks as a Leader in this Forrester Wave. MarketShare’s Planner and Optimizer tools are accessible to analytically proficient end users and senior brand managers as well as outside media agencies. MarketShare also has excellent data processing and integration capabilities and can integrate client marketing data in multiple formats. MarketShare’s mix models are all built to be “forward-looking first” and pull data in from media agencies and various third-party data partnerships.