Planning That Successfully Mixes Art And Science

December 8th, 2014

Jim Nail

Samantha Merlivat

With contributors:

Tina Moffett , Luca Paderni , Nate Elliott , Wei-ming Egelman

Summary

Marketing is no longer about delivering a single consistent message in a linear media world. To stay in tune with consumers throughout their life cycle and know how best to allocate marketing budgets to the right touchpoints, marketing leaders must learn two new approaches: marketing RaDaR and marketing mix modeling. Both build on traditional marketing skills of consumer insights, data analysis, and return on investment (ROI) measurement but apply new techniques and perspectives to provide more-sophisticated guidance for today's multichannel marketing environment. In this report, we provide an overview of these techniques to orient marketing leaders on how to incorporate them into their marketing plans and processes. This report was originally published in December 2012 under the title "Predictive Analytics Revolutionize Marketing Mix Planning"; Forrester reviews and updates it periodically for continued relevance and accuracy, most recently in August 2013.

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