Framework to help your optimization efforts
As marketers are pressured to provide a return on marketing investment, TWO NIL has been often asked to identify the relations between the Media Investment and its return (Lower Funnel). Our VP of analytics, Jason Lee, developed MEAF framework in efforts to simplify the analysis process and help filter out the unnecessary metrics. MEAF helps marketers identify the cause of change when the effectiveness of a media channel increases or decreases to help make better optimization decisions.
IDENTIFYING THE GOOD, OR THE BAD MAY NOT BE SIMPLE
As marketing funnels increase in complexity, marketers are often faced with a situation where it is difficult to know where in the marketing steps changes in performance stem from. Without the framework, pinpointing the changes within your campaign may not be as simple.
For instance, A typical DTC brand’s conversion funnel could have approximately 28 metrics to analyze. This can be simplified into a MEAF framework which can help us eliminate unnecessary steps required to identify the change in efficiency. Within the framework, the relationship between marketing steps can each be described by the metrics below. When media effectiveness changes, the root cause of the difference can be determined by analyzing the various marketing metrics to indicate which specific marketing step is the driver of change.
This framework can be utilized to identify the gap within the both single-channel and omnichannel campaigns. It is designed to provide directional insights based on measurement.
Fully flexible in identifying gaps within the funnel, regardless of the depth and length of each funnel and stages, as the triangle can get deeper. The more complex your marketing funnel, the more powerful and valuable this framework can be.
As we analyze our way up the triangle, we can provide optimization direction on where within the marketing steps requires attention, while helping you pinpoint the channel in question in conjunction with attribution modeling.