The Marketing Accountability Standards Board (MASB) honored three marketing metrics that directly link marketing actions to financial performance. The certification process includes the conceptual linking of marketing activities to intermediate marketing outcomes and the cash drivers of the business using 10 Characteristics of an Ideal Metric. This transparency bolsters Marketer confidence while protecting the intellectual property of the provider.
“We’re trying to change the system,” explained Tim Gohmann, member of the Marketing Metric Certification Project team, during MASB Spring Summit at SMU Cox School of Business. “We’re trying to minimize that risk that causes people to be non-accountable.”
The award for Causal.ai from Proof Analytics was received by Mark Stouse, CEO. The first software product evaluated by MASB, it generates optimized plans and forecasts to explain, calibrate, and constantly improve marketing investments. The software can import time series data of all types, making it relevant across business operations in both B2B and B2C companies. It can be used for ad hoc questions as well as routine ones. Forecasts can be revised more often than with other marketing mix modeling techniques.
“It took us four years to actually build a causal A.I. platform,” related Stouse. “We had early customers who weren’t paying us much money, but they were paying us a lot in product feedback, which turned out to be way more valuable than money.”
The Meaningful, Different and Salient (MDS) framework from Kantar measures the value of brand equity accumulated in the minds of consumers – its impact on penetration and market share; its impact on willingness to pay, and its impact on future growth potential. Applicable to any brand, anywhere, MDS comprises seven metrics: meaningfulness, difference, salience, demand power, pricing power, activation power, and future power. Together, these quantify consumers’ predisposition towards a brand and can be used to explain its impact in justifying a price premium, in capturing penetration and volume, and in increasing the likelihood of revenue growth.
Mark Glovsky, Kantar Senior Brand Strategist, received the award: “We’re an evidence-based company, we always have been, and we need to always keep checking our work to make sure we’re encapsulating everything that’s out there. We use the outside audit to make sure we’re not navel-gazing!”
Reddify, a new marketing platform leveraging on the power of User-Generated Content on Reddit. The platform is a growing network of Reddit users looking to give back to their communities by reviewing brands that they can trust. MASB certified the Reddify B2C Marketing Platform with the metrics: Catalyst Surge Ratio (CSR), Sentiment Score (SS), and Conversion Ratio (CR).
Co-founder and CIO Isaiah Heng said this in his video acceptance: “New metrics are vital for us … because old school stats are unable to capture the impact of how people interact and engage – and decide – in today’s world. That’s why MASB’s mission resonates with us. You work to link marketing to financial performance is also what drives us. The certification validates that our metrics can redefine how our community marketing is measured and we are proud to align with your vision.”
If your metric is ready for The 10 Characteristics of an Ideal Metric, or if you’re wondering why you’re using one that isn’t, contact [email protected].