How to Optimize Your Marketing Budget with Paul Dyson
Paul Dyson is a leading econometrician who shares how marketers can use pricing, promotion, creative, eSOV and media mix to optimize marketing budgets without getting adding a penny more.
Background on Jenni Romaniuk
Paul Dyson is the Co-Founder of Accelero and provides independent, unbiased recommendations on how to deliver business growth in the short and long term. Paul and his colleagues at Accelero use econometrics and experience to focus on what matters to drive business results. Paul was formerly the Founder of Data 2 Decisions which was sold to Dentsu. Prior to that, Paul was the Director of R&D @ Kantar Millward Brown which produced a notable report ranking the factors that drive profitability
0:00 – Teaser
1:15 – Paul’s Bio
3:04 – What marketing leaders can do to optimize a marketing budget before asking for more
5:20 – Why advertising a promotion after a promotion could be wasteful
7:55 – FMCG case study of a company losing share despite using promotions to maintain volume
10:52 – The antidote margin-erasing discount promotions
12:16 – Why it’s important to alternate branding with promotional based messages
16:07 – How marketing leaders can combine data and people to optimize budgets
20:30 - How to integrate media optimization decisions with other business stakeholders
24:15 - Who typically manages the margin impact from price promotions
26:26 – The channels most effective for brand building
27:56 – The strengths and weaknesses of social video versus TV
29:14 – Is the death of TV real or just hype?
30:31 - Good evidence-based benchmarks for setting and allocating marketing budgets
33:55 - Is an advertising-sales ratio of 5% of revenue a good benchmark to use?
36:00 – What is excess share of voice (eSOV), how it influences market share and how it can be used to set marketing budgets
40:30 – Why it’s important to define your own category and how to do it
43:54 – How audience attention metrics can impact a brand’s share of voice
45:18 – Why market mix modelling can trump audience attention metrics and ad fraud
47:51 – Why creative is THE silver bullet and how marketers can use it to improve returns on their budget
51:56 – Why measuring the ROI of advertising is so challenging
54:20 – Which market mix modelling KPIs are good predictors of sales and ROI
56:28 – How to correlate digital data with business impact
58:16 – Case study: Brand size is a factor of ad performance
1:00:00 – Tips and suggestions to start setting a proper budget
1:02:00 – Why brands should invest more in creativity and how to pretest creative ideas
1:03:50 – How to find out more about PaulLinksPaul on LinkedInAcceleroWARC article: Why marketers need to look 5 years forwardKantar Report on Ad Profitability Multipliers
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