In today’s volatile economy, measuring the return on marketing investment (ROMI) is an essential part of a marketer’s strategic objectives. With budgets shrinking and new communication platforms emerging, a holistic measurement approach is required to determine the optimal marketing mix, and monitor the effectiveness of in-market advertising campaigns.
At HCD Research we use state-of-the-art research techniques to quantify the impact or effectiveness of advertising campaigns. We conduct respondent-level data analysis to understand ROMI with regard to heterogeneous responses, external forces and the influential momentum of a brand as a result of social media exposure.
We develop robust databases that are populated with critical data elements including media exposure, econometric models, weather, time and geography. Using these databases, we can analyze the impact and synergies of traditional and digital media expenditures.
We use advanced methods including complex adaptive systems to simulate emergent behaviors and conduct scenario planning while a campaign is in-market. More importantly, in-market ROI assessment enables marketers to better understand what works; determine the segments of the target audience that are most receptive, and refine and optimize their advertising campaigns.