Economic headwinds require smarter econometric modelling. Bank of Queensland Group’s top marketer has already successfully defended marketing budgets using Mutiny’s WarChest platform – and other big brands are following suit, while bidding to grow share and provide CFOs with greater visibility of what’s coming down the track.

“Banking is an incredibly dynamic category, susceptible to macro environmental and economic events. Working with real time insights from our marketing ROI platform is crucial for understanding what marketing activity, channels and mix is working best,” says ING’s Head of Marketing Danielle Hamilton. 

“In our experience, partnering early and often with our finance and business teams to credibly decompose contribution of sales from paid marketing channels, promotion led activity and organic, means we can make smarter commercial decisions.” 

Two key use cases for ING include using WarChest for post campaign analysis to better understand performance and marketing contribution, with the other being dynamic forecasting of future growth from campaigns in development. “Marketing effectiveness sits at the core of our marketing strategy and having the internal analytical capability and enhanced agility with our Effectiveness Suite are two core enablers of this,” adds Hamilton.

Carl Bunn, Head of Corporate Marketing at Samsung, is another marketer that has recently commissioned WarChest, with the consumer electronics sector navigating significant global supply chain pressures. Bunn says the upshot is sharper, swifter decision-making in an uncertain economic environment.

But economic volatility also provides the potential for marketing to drive or even grow market share. With budgets under increasing pressure, it becomes more important, not less, to present marketing with a strong financial return case going forward. Mutiny’s marketing investment analytics platform WarChest is empowering teams to make more calculated decisions around marketing investment because of the dynamic nature of its media mix modelling (MMM) platform. MMM has traditionally taken months to return an accurate picture of which channels are working, and which are underperforming. But by then the market has often changed.

“We have a thorough planning and forecasting process we work through each year internally. The reality is no one could have predicted the 2022 we’ve had, and the ability for Samsung to understand the impact of the macro environment on our media performance and revenue more generally is helping us make better decisions around where we invest, and how much to invest in the context of the market,” says Bunn.

“Looking at marketing return on investment (MROI) enables a conversation around the impact of marketing, and gives us confidence in optimising our strategies.”

A fluid economic environment – from interest rate hikes, global and local price inflation, shifting work, shopping and travel patterns – means marketers and CFOs cannot afford to wait for data that may be out of date by the time it is processed, analysed and understood. Speed of insight is critical, now more than ever, and results must be robust to build trust.

“There’s a sense of sensibility that comes with leveraging an external tool to audit marketing returns, given the uncertainty marketers must now navigate – and credibly translate internally and externally – to guide their organisations toward growth,” says Mutiny’s Director of Sales & Marketing Mark Tovbis.

“As a unified economic model, WarChest empowers brands and their agencies to make better and more confident decisions around marketing investment,” he adds. “It shifts marketing return on investment (MROI) from something they may do once or twice a year, to something they can do more regularly – and in line with the major macroeconomic changes that will impact their strategies and investment decisions.”

To find out more about Mutiny’s marketing investment analytics platform, visit https://mutiny.group