Raleigh, North Carolina (PRWEB) August 27, 2014
Marketers now have a broader tool kit to compete in today’s complex environment as Keen Strategy has added new features to its Marketing Investment Decision Analytics (MIDA) software.
Since it was first developed by John Busbice, managing partner at Keen, the MIDA application has enabled business and marketing leaders to answer a critical question: where to spend the next marketing dollar. Unlike traditional tools that simply measure the performance of past marketing efforts, MIDA is a forward-looking decision support tool that is both omni-channel and omni-media ready.
The two newest features will extend MIDA’s scope even further.
"These innovations improve marketing investment decisions by making the objectives and trade-offs in the entire purchase funnel more transparent and more controllable,” Busbice said. “Making good decisions requires people to be explicit about the outcomes they value. Marketers have a tough job because they have to balance revenue with upstream purchase funnel measures like brand health.”
First and foremost, Keen will now use MIDA to help marketers model brand health or consumer behavior measures. Where MIDA originally built predictive sales volume models and forecasts, it now can determine marketing investments to drive brand health and consumer behavior such as household penetration.
The second new feature allows marketers the ability to index campaign performance – comparing the effectiveness of their campaigns throughout the year, or year over year, normalizing for different media investments on each campaign. The analysis will give marketers their own benchmarks to evaluate not only media tactic effectiveness and media spend effectiveness, but also campaign and message effectiveness.
“These two new features together broaden the decision set that marketers can now optimize,” said Alan Hart, managing partner at Keen. “This goes beyond sales and media spend to examine campaigns, brand health measures, and consumer behavior measures.”
About Keen Strategy
Keen is a new breed of firm: a software-enabled strategic consultancy. We combine next generation decision analytics with a practical, outcome-based mindset to help managers make effective, proactive decisions about their business. Keen works with clients who believe in the power of the next leap forward. Our areas of expertise: brand strategy, customer strategy, marketing forecasting & optimization, and trade deal optimization.