Manage Your Marketing Mix Modeling Vendors

In the age of the customer, powerful analytical tools, the wealth of media consumption data, a more granular understanding of consumer behavior, and sales data enable marketing leaders to understand the business impact of their plans in new ways. Successful optimization of the marketing mix requires careful coordination of multiple data streams, generation of insights from marketing mix models, and careful review of budget allocation decisions across the marketing organization. In addition to collaborating with business technology colleagues, marketing leaders must partner closely with media agencies and mix modeling vendors to find and apply the insights that drive greater business impact from the marketing budget. This report will help marketing leadership professionals understand how to strategically manage marketing mix modeling vendors to generate continuous insights and optimize their marketing mix, which drives higher return on investment (ROI) from good mix decisions. This report was originally published on January 11, 2013; Forrester reviews and updates it periodically for continued relevance and accuracy.