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For decades, media companies have collected a myriad of data around audience composition, consumption, content interaction, and ad occurrence, all of which can provide invaluable insights and empower marketers to better understand their advertising’s performance. Today, most media companies use insights gleaned from this data to sell advertising. The missed opportunity is that media companies can directly monetize their own data by creating insight or optimization systems that continuously report advertising value to buyers. Instead, market research companies own this insight and dictate the “value” of advertising inventory. This white paper will discuss why and how media companies must develop their own systems which use their own proprietary data to continuously report advertising value.
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Marketers need to apply business performance management techniques to improve marketing ROI. Our effort must be beyond traditional advertising alone, we must include direct marketing, online marketing, CRM, public relations, employee communications, and so on. That is, we must align all marketing activities with business and financial objectives to improve the impact marketing can have on our corporate goals.
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Our work with a leading national retailer is a great example of how marketers can effectively use marketing performance management to drive organizational alignment and improved media effectiveness and efficiency.
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Presented at the Journal of Financial Advertising Breakfast, this presentation outlines 4 easy steps to achieve marketing measurement excellence. Measurement is a key pillar to success Marketing Performance Management.
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Our work with Gannett Co. Inc. is a great example of how media companies can effectively use marketing performance management to drive new revenue and partner with marketers.
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For decades, media companies and marketers have been buying and selling advertising space based upon the composition of an audience and the tonnage reaching that audience. Unfortunately, this exchange misaligns the business goals of buyer and seller. Simply put, in today’s complex media landscape, media companies need to sell their inventory based upon business value, not reach and frequency. Although on the surface this appears like a radical idea, it’s actually common practice for other industries outside advertising. It’s cross-company supply chain management. Let’s explore these ideas in the context of advertising.
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