“In fine-tuning the mix, it can be tempting to allocate money to short-term initiatives that generate high ROI. That bias is fed by the fact that so much data comes from consumers engaging in short-term behavior, such as signing up for brand-related news and promotions on a smartphone or buying a product on sale.”
There are many new sources of data and new tools to analyze the impact of marketing programs. Good, old-fashioned experience and business judgement are still needed to choose the right approach and interpret the results. This White Paper provides some watch-outs and an approach to getting it right.
Author: McKinsey & Co.