Big Chalk Analytics, a data strategy and analytics company, announced a suite of services to help companies drive better ROI through better evaluation of their marketing investments and to better predict the return on campaigns yet to be launched. The new offering, Marketing Effectiveness on Demand (MEOD), reduces project time, lowers project costs, and expands the level of insight provided by traditional marketing effectiveness studies.
Marketing Technology News: Alliance Develops Shared Diversity and Inclusion Goals
The time savings created by Big Chalk’s automation translates into lower project costs for clients – up to 30% compared with industry norms.
“We founded Big Chalk to advance the disciplines of data transformation and accessible analytics,” said Sean Ogar, a founding partner. “Marketing Effectiveness on Demand is a natural extension of that. Plus, with platform providers like Google and Apple restricting other forms of measurement, flexible, holistic marketing effectiveness models are even more valuable to clients.”
For years, marketers and brand managers have employed statistical models to measure the performance of their marketing investments. However, gathering the data to feed the models, combined with crunching the numbers and validating the results, made these projects costly and time consuming.
Marketing Technology News: MarTech Interview with Clarence Kam, Chief Product Officer at JW Player
In MEOD, Big Chalk delivers several benefits to brands seeking better measurement and ROI for their marketing activity:
1. Big Chalk has reduced the overall project time from an industry average 12-14 weeks to 5-6 weeks, which gives brands the ability to act on study results faster.
2. The time savings created by Big Chalk’s automation translates into lower project costs for clients – up to 30% compared with industry norms.
3. The time saved on manual manipulation of data allows for more personal engagement with Big Chalk’s MEOD consultants, who help ensure clients and agency partners are focused on the right questions to answer in order to improve ROI and make better future decisions.
In addition, traditional marketing effectiveness tools only measure advertising campaigns and marketing programs that have been deployed. Big Chalk’s MEOD solution enables marketers to estimate the success of campaigns not yet deployed.
“With the trove of consumer conversations available from digital platforms, we can predict the likeliness that a new message or new content partnership will generate higher or lower ROI when compared with past campaigns,” said Ogar. “This takes much of the risk out of launching a truly novel campaign.”