Being able to demonstrate Marketing Return on Investment, or MROI, saved Bank of Queensland retail marketing GM Melody Townsend half of her budget when the business demand for cuts came in early 2021. “Media costs are spiralling upwards… marketing is an easy area to take dollars from,” she says. But using Mutiny’s cloud-based econometrics platform, War Chest, Townsend was able to show what cutting the budget by 25, 50 and 100 per cent would do to incremental sales – and it worked. “That was the first time it was reflected in the amount of dollars we had to hand back,” she says. MROI has been a difficult concept to pin down, but that appears to be changing. BoQ’s Townsend, Carlton & United Breweries’ Megan Quinn, Samsung’s Head of Corporate Marketing Carl Bunn, and Mutiny Group co-founder Henry Innis lay out how marketing modelling is driving more productive conversations with finance teams and predictive accuracy for business results.
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