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Eckrich’s marketing ROIs sizzle even on a lean budget

Eckrich’s Marketing ROIs Sizzle Even on a Lean Budget

Boosting marketing’s returns Is an easy win with the right insights.

Smithfield Foods earned $1.58 million in incremental profit, lifting its marketing contribution by 21 percent year-over-year for its two famous brands, Nathan’s famous hotdogs and Eckrich Meats.

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Talking mathematical marketing with Andy Judd, COO of Laird Foods

Marketing complexity has ushered in the age of the mathematician marketer, meaning analytic skills have never been more necessary. The ability to create and produce a strong and relevant narrative is a large part of success, but so is setting the right foundation to help confidently predict performance and profitability.

In the first installment of our interview series, ReveNew, Keen CEO Greg Dolan sat down with Andy Judd, COO at Laird Superfoods and former CMO at Yasso, to discuss what challenges—and opportunities—he thinks should be top-of-mind for marketers in today’s ever-evolving marketplace. 

Here are three big takeaways from the call you don’t want to miss.

 

Fluidity is key 

Staying fluid when you think about your marketing mix is more important than ever—and likely to stay that way for a while. Building flexibility into your infrastructure and teams is fundamental to your success. Because both adaptability and having people that understand the technical mechanics are crucial, you need to create a structure that matches the expertise and make sure you have technicians with a good baseline understanding of platforms. 

Meanwhile, from a hard skills perspective, while analytics expertise and capabilities are more necessary than ever in marketing, you still need to pair that with the creative ability to tell a compelling story. So it’s important to ensure your marketing team has a broad and adaptable skill set that can synthesize these components in order to produce optimal results.

  

No single source of truth exists

Because of the algorithmic advances in the field of marketing, you need to place the best content that’s native to a platform and build it against a campaign architecture that is mathematically or analytically optimized. Today’s market demands that we think more holistically and build a dashboard or platform view that can offer multiple pieces of information and cleaner visibility. Having a clear understanding that no single source of truth exists is paramount here, and a necessary mindset to develop.

It’s important to consider how to bring in human capital, the right digital and analytical infrastructure, and then how to activate that. When thinking about recruiting, you should make sure you are writing the job description for the right capabilities. Candidates need to have some mathematical training and dashboard-level training, as well as media performance marketing level training.

 

Protect against the grind  

 Unfortunately, there are still some common traps that marketers can fall into. One of which is the grind of constant fluctuation. While the emerging brand field is often seen as exciting and quick-paced, it can also be very demanding. One way to protect against this is through the building of your company culture, it’s a challenge leadership should take seriously. If your team doesn’t feel grounded or solid, how can it be expected to pivot quickly when necessary and still produce successful results? 

Another pain point for brands in this space are resource constraints, whether in terms of dollars or humans. Many brands will try and push all their chips into a certain place, and they don’t start working on incremental vectors of growth soon enough. The best solution for this is to start thinking about what plans need to be activated today–because building the capability set for what the next thing is must be learned and acquired as you afford entry into new spaces.

 

Putting the puzzle pieces together

IT and marketing have never been more intertwined than they are today. Marketing leaders need to constantly be thinking about the future and how to stimulate avenues of growth without seeing an increase in budget. It’s all about knowing how to optimize against your current go-to market model and thinking about how to utilize resources in the best way to create new opportunities.  

That’s one of the things Andy says he loves about Keen—the multi-model approach. For him, having data at different levels, telling a different story, and being able to pull them together on the same playing field to be able to make sense of it is key. And Keen technology does that by taking these potentially conflicting pieces of information and running multiple models to understand optimization both within channels and holistically in order to optimize and guide your next decisions to ensure your making the right ones at the right time.

Keen to learn more? Check out the interview here.

 

 

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Uncertainty be damned

This eBook will teach you:
– What is the next generation of marketing mix
– How you can quickly adjust your marketing mix in an ever-changing environment
– What to look for in a marketing mix technology partner

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ReveNew Episode 1 with Andy Judd: Staying Fluid

ReveNew Episode 1 with Andy Judd: Staying Fluid

In the premier episode of ReveNew, Greg Dolan and Andy Judd, COO at Laird Superfoods, talk algorithmic complexity, the age of the mathematician marketer, and the importance of leveraging technology with analytical human resources. Plus, they discuss why staying fluid when thinking about your marketing mix is more important than ever—and likely to stay that way for a while.

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Extend profit beyond the cycles of seasonal marketing

Extend profit beyond the cycles of seasonal marketing

In this guide you will learn:

- The influence seasonality has on your marketing and brand performance

- Four strategies you can implement to make the most of your brand’s seasonal sales cycles and extend your expected returns beyond your peak season

- Real-life examples of how brands implemented seasonally optimized marketing plans across their marketing mix to drive high returns year-round

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World’s third largest confectioner scores sweet results

World's third-largest confectioner pumps fresh air into Airheads and Mentos brands

Discover marketing measurement that does more than measure your success.

Keen worked with the world’s third-largest confectioner Perfetti Van Melle to pump some fresh air into their TV strategy for iconic brands Airheads and Mentos. Industry measurement guru Bill Mackison leveraged Keen’s future-focused models to de-risk what appeared to be a risky TV investment decision: breaking the 40-GRP rule of thumb. Learn how the confectioner sweetened its results with a different TV strategy, backed by insights from Keen.

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A marketer’s guide to collaborating with finance in an era of digital transformation

A marketer's guide to collaborating with finance in an era of digital transformation

This eBook will help you:

- Understand the close alignment between modern finance and marketing leadership roles

- Deploy the VALUE framework for aligning with finance and practical steps you can take starting today

- Benchmark your progress showing marketing’s financial impact against that of other marketing leaders

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Marketing metrics: The definitive guide for finance leaders in an era of digital transformation

Marketing metrics: The definitive guide for finance leaders in an era of digital transformation

This eBook will help you:

- See the increasing overlap between finance and marketing’s priorities and how to take advantage of this trend to drive more value in your role as a finance leader and for your business

- Identify action steps you can take as a finance leader to form a powerful alliance with your marketing counterparts

- Learn how to achieve better marketing metrics that demonstrate marketing’s financial impact on your business

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Rebranding the CMO: Why the marketing chief role matters in today’s data-driven world

Rebranding the CMO: Why the marketing chief role matters in today's data-driven world

What you’ll learn in this eBook:

-Why the Chief Marketing Officer role is disappearing from the C-suite at major companies like Coca-Cola and Hyatt Hotels despite spending upwards of $1 trillion on marketing a year

- How to leverage technology and a future-focused approach to your investment decisions in order to secure marketing’s seat as a value driver for your business

- How to speak the same financial language as the C-suite

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Durham Based Keen Decision Systems Announces 11 Million Dollars in Series B Funding

DURHAM, N.C.–(BUSINESS WIRE)–Keen Decision Systems (“Keen”) announced today that it has closed an $11 million Series B financing led by Ballast Point Ventures IV (“BPV”) to accelerate the industry’s first and only decision optimization engine rooted in predictive analytics. Brand marketers struggle to optimize marketing investments across all online and offline channels. Keen’s unified adaptive marketing mix solution empowers brand leaders to quickly and accurately plan, adjust and report on their marketing mix strategy. Marketing leaders can now account for known and unexpected complexities across their entire marketing landscape through vetted recommendations to improve performance, outpace the competition, and increase profitability.

“Keen is bringing a much-needed solution to the marketplace, and we are thrilled to be partnering with the Company to help Keen win in this large and growing market.”

Marketing challenges are not in short supply these days. Consumer behavior continues to evolve with increased media fragmentation and more tools for marketers to manage. Additionally, unexpected events like inflation, COVID-19, and supply chain issues make planning even more difficult. Keen’s platform analyzes a complete array of data sources, including real-time data, to generate marketing plans that empower marketers to achieve their financial targets.

“We’ve had the benefit of following Keen for a few years now and have been very impressed with Greg Dolan, John Busbice and their entire team,” said Sean Barkman, a Partner at Ballast Point Ventures. “Keen is bringing a much-needed solution to the marketplace, and we are thrilled to be partnering with the Company to help Keen win in this large and growing market.” The investment from Ballast Point Ventures will accelerate Keen’s product development and fuel Keen’s brand awareness and continued expansion into new industry verticals. As part of the financing, Sean Barkman will join Keen’s Board of Directors.

“Keen provides best-in-class value to its clients and regularly improves marketing efficiency by 25 percent or more. The Company has been fortunate to experience a unique opportunity in the market as we’ve introduced a new paradigm for decision-making to the marketing industry. This has led to a significant growth trajectory, and we are confident that the collaboration with Ballast Point Ventures will continue to accelerate that growth. This investment represents a reciprocal opportunity for both companies, and I couldn’t be more excited to welcome BPV on board,” said Greg Dolan, Co-Founder and CEO.

About Keen Decision Systems

Keen Decision Systems is a Durham, NC-based, software-as-a-service company whose unified marketing measurement and optimization platform helps marketers make dynamic, data-driven decisions about the most effective marketing investments, by channel, investment level and timing. Keen’s customers experience an average 25 percent improvement in brand performance in year one. Connect: KeenDS.cominfo@keends.com. Follow us on LinkedIn.

About Ballast Point Ventures

Ballast Point Ventures, headquartered in Tampa, Florida, is a later-stage venture capital and growth equity fund founded in 2002 to provide expansion capital for rapidly growing, privately owned companies, with a particular emphasis on companies located in Florida, the Southeast and Texas. The BPV partners have more than 80 years of combined experience investing in and building high-growth companies in several industries, including software, technology-enabled business services, and healthcare. Ballast Point Ventures has raised over $550 million across four Funds and seeks to make initial equity investments ranging in size from $5 million to $15 million. For additional information, visit www.ballastpointventures.com.

Contacts

Addie Caulk Derr, VP Marketing | addie.caulk.derr@KeenDS.com