I have had conversations with multiple CMOs over the past few years and when the conversations get deep enough, I ask "What are your thoughts on MMM (Media Mix Modeling)?" There's usually a sly look and an awkward pause, followed by a rhetorical "What do you think?
My answer is pat; "MMM is a directional tool, but the reality is it's bullshit." And I am pleasantly surprised that after a sigh of relief, they always say "I agree."
The beauty of technology in today’s environment is that it can enable companies to react to velocity. What I mean by that is that if marketers can see a certain trend happening or taking place they can move much faster in responding to that, making changes in almost real-time and increasing the overall efficiency and ultimately creating successful outcomes.
I have waited 20 years for technology to catch up to a point where we can deliver this holy grail of marketing. One of our Advisors said, "This is the ultimate rosetta stone for CFOs and CMOs" The question you have to ask next is "Why?"
If CMOs and CFOs can see the same thing simultaneously, the chasm between these two C-suite leaders begins to narrow. Alignment across the C-suite and the broader marketing organization is a step towards more effective brand building and more importantly business performance.
I'm reminded of an old video called "School House Rock - and Conjunction Junction." I fed the song into Chat GPT and asked it to write a little ditty called "Reaction vs Prediction."
Here is is:
Reaction’s the action, what’s your game?
Being in the moment, that's how you gain fame!
Move with speed, seize the day,
Let the customers show you the way.
Reaction, prediction, which will you choose?
In the here and now, you’ve got less to lose!
Don't wait for what's next, just take control,
Conviction is born when you’re on a roll!
Prediction guessing, and time can slip,
But reaction's ready, quick to grip!
In real-time, you’ll build the spark,
That keeps your brand ahead of the arc.
React, adapt, that's how you’ll win,
Stay in the moment, let conviction begin!
You get the idea and we believe mktg.ai is the technology that allows marketers to react faster and gain conviction behind the right ideas...at the right time.
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