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Current Using M3 to overcome the financial crisis
The financial sector, like others, has been hit hard by the economic downturn of recent years. As a result, the pressure for accountability within media budgets has increased, which forces marketers to focus on efficiency. Meanwhile, the rapidly changing media landscape and competitive forces add new variables faster than the industry can adapt to them. The question that arises is how do professionals effectively bridge the silos of creative messaging vs. media planning and traditional vs. digital media, in such a way as to ensure that their advertising money generates maximum market share growth?
M3 is the first true money-in/money-out media ROI measurement and planning resource for marketers and their agencies. Through a combination of research, modelling and decision support software, M3 tackles Integrated Marketing Communications and ROI management simultaneously, while also bridging media and organisational silos. M3 takes the guesswork out of choosing the best combination of media and message to increase market share and achieve maximum advertising effectiveness.
The first M3 project for the financial sector was carried out for the business-to-business market. The basis of this solution was research amongst a large sample of decision-makers responsible for selecting the main bank to provide financial services to their company (business banking). This M3 project delivered real eye-openers for this specific segment. Using econometric modelling, M3 shows, for example, the ‘real’, as opposed to claimed, importance of several drivers that influence people’s choice. Results show that the actual importance of the bank fee structure is less important than it is claimed to be and that different emotional drivers that are related to a good, partner-like cooperation with the bank are much more important to companies.
These econometric models are incorporated within user-friendly software, enabling banks and their media agencies to obtain insights into the current situation of a brand and, more importantly, enabling the agency to create scenarios that show the change in market share and net promoter score (NPS, a widely used measure of loyalty) of a brand due to changes in brand perception or importance of purchasing stimulators. These insights can then be used to determine and advise about the right communication strategy: which message and channel mix will ensure that the clients get the most out of their marketing budget.
In summary, M3 is a useful tool for financial institutions to beat the competition and overcome the financial crisis! As one of our media agency clients commented: “The M3 solution enables us to deliver to our clients fact-based recommendations as to how to improve their communication strategy and the appropriate channel mix, based on what is really important to them, which is not GRP's or reach, but the real thing: brand growth!”
Current Using M3 to overcome the financial crisis
Using M3 to overcome the financial crisis
The financial sector, like others, has been hit hard by the economic downturn of recent years. As a result, the pressure for accountability within media budgets has increased, which forces marketers to focus on efficiency. Meanwhile, the rapidly changing media landscape and competitive forces add new variables faster than the industry can adapt to them. The question that arises is how do professionals effectively bridge the silos of creative messaging vs. media planning and traditional vs. digital media, in such a way as to ensure that their advertising money generates maximum market share growth?
M3 is the first true money-in/money-out media ROI measurement and planning resource for marketers and their agencies. Through a combination of research, modelling and decision support software, M3 tackles Integrated Marketing Communications and ROI management simultaneously, while also bridging media and organisational silos. M3 takes the guesswork out of choosing the best combination of media and message to increase market share and achieve maximum advertising effectiveness.
The first M3 project for the financial sector was carried out for the business-to-business market. The basis of this solution was research amongst a large sample of decision-makers responsible for selecting the main bank to provide financial services to their company (business banking). This M3 project delivered real eye-openers for this specific segment. Using econometric modelling, M3 shows, for example, the ‘real’, as opposed to claimed, importance of several drivers that influence people’s choice. Results show that the actual importance of the bank fee structure is less important than it is claimed to be and that different emotional drivers that are related to a good, partner-like cooperation with the bank are much more important to companies.
These econometric models are incorporated within user-friendly software, enabling banks and their media agencies to obtain insights into the current situation of a brand and, more importantly, enabling the agency to create scenarios that show the change in market share and net promoter score (NPS, a widely used measure of loyalty) of a brand due to changes in brand perception or importance of purchasing stimulators. These insights can then be used to determine and advise about the right communication strategy: which message and channel mix will ensure that the clients get the most out of their marketing budget.
In summary, M3 is a useful tool for financial institutions to beat the competition and overcome the financial crisis! As one of our media agency clients commented: “The M3 solution enables us to deliver to our clients fact-based recommendations as to how to improve their communication strategy and the appropriate channel mix, based on what is really important to them, which is not GRP's or reach, but the real thing: brand growth!”