Last October Nine corralled a posse of market mix model (MMM) providers, co-funding a program to prove what its assets could do in hard business terms. Since then Nine has poured over three years of historical data from dozens of campaigns, along with brand tracking, consumer attitudinal research, business case studies and other inputs from the likes of Neuro Insight, getting granular on what is moving the needle for brands – and how.
Now the early results are in. Some are obvious – The Block generates product trials. Other findings less so – MAFS, for instance, drives trust and credibility as a halo effect for brands like Westpac. Meanwhile, Love Island Australia has Cointreau toasting a massive 42 per cent lift in consideration.
Kia signed up to Nine’s $30m program – and marketing boss Dean Norbiato says the early MMM reads now have him plotting channel reallocations: “Looking at the first cut [of MMM data], it would be commercially negligent not to,” said Norbiato, though noting that a broad mix of channels has been crucial to driving growth for Kia, and that TV advertising and tent pole sponsorships have hugely influenced performance marketing results.
But Norbiato, plus Nine’s Stewart Gurney and Nikki Rooke, underline a combination of short, medium and long-term strategies, across a broad mix of channels, and layering network effects, are critical growth drivers.
Overall, binary pursuit of one-dimensional metrics like ROI is likely to backfire – and MMMs have limits, which even Mutinex co-founder and global CEO, Henry Innis acknowledges. He says there is no silver bullet to give marketers a universal fix.
Growth is nuanced, multi-layered and complicated – much harder than lightweight “easy sell, dollar in, dollar out” ROI metrics, per Kia’s Norbiato. But there are ways to start understanding how to put a better plan together, and optimise with sharper data more rapidly. “And that gives you a much bigger seat at the senior management table.”
Now Norbiato’s moving to act on the MMM data: “We need to get further understanding, but this initial cut is definitely going to sharpen that [channel] selection.”
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