In the not so distant past, marketers were making multi-million dollar decisions based on gut instinct. There was a time when marketers’ responsibilities ended at creating engaging, compelling pieces of output. The old adage that “marketers knew that 50% of their marketing budget was working, but didn’t know which 50%,” actually was acceptable. As savvy, data-equipped marketers, we would like to think that those days are long gone.
But with the proliferation of marketing channels and the exorbitant amount of data now available, many marketers are struggling to convert data into action, which is a big problem when the marketplace is noisier, and customers are more demanding, than ever before. Given the never-ending ways for marketers to invest their budget, and the additional responsibility on driving returns, many marketers lacked the right tools or resources to understand the greatest areas of opportunity.
Rise Interactive understood this gap and set out to help marketers make smarter investment decisions. Our ‘Interactive Investment Management’ (IIM) philosophy introduces the ability to allocate marketing dollars more effectively and enables marketers to shift budgets faster to maximize return on investments. In fact, IIM is modeled after an industry with decades of experience using data to make investment decisions in near real-time: the financial sector. Rise saw the efficiency and effectiveness in which analysts in the sector could garner information, reach insights and conclusions, and shift investments accordingly, and thought that marketers should be able to do the same. So as a portfolio manager would, Rise crafted an approach that looks at the entire marketing investment. It puts client dollars into the areas of greatest opportunity and into channels that drive the greatest returns. This philosophy helps marketers better understand their customers, deliver more relevant experiences, and allocate marketing dollars effectively.