Marketing’s New ROI Framework
Analytics have changed not just what marketers measure but how brands now appraise success.
NEW THINKING
Analytics have changed not just what marketers measure but how brands now appraise success.
What is it, exactly, that brand marketers want to do? Maybe this question only makes sense to marketing researchers like me because to many researchers it seems that, increasingly, marketers want us to do their jobs. I’m not being critical. I’m just wondering what the role of brand marketers will become if, or more likely when, researchers step up to the biggest strategic roles that marketers fill today.
For some time now I have been exploring the role of meaning in marketing. I think being perceived as meaningfully different is the origin of a brand being able to command a price premium.
Neuroscientists, designers and authors all seem agreed on one thing: market research is pretty much useless. They all agree that new insights are required but, unfortunately for their credibility, they all offer a different means to that end. But why has market research become such a popular whipping boy?
There is a view in brand marketing research these days that random sampling is on its last legs. With tons of data in hand and real-time testing on the rise, many claim there is no need for random sampling anymore.