An issue we often deal with here at PRMS is being able to quickly and easily explain what it is MarketSim ABM Marketing Analytics does. We think it’s because ABM is a complex concept designed to address complex, real-world issues and in our case, we’ve tuned it specifically for use by marketers who work in a consumer-facing market.
We know MarketSim provides solid, proven answers to questions like ‘how can I optimize my marketing investments to their greatest effect?‘ or ‘how should my media be arranged for a new product we’re launching?‘ and yes, it does a good deal more in giving insight to other questions, but these are questions that no other technology today can address very well even though many claim to have the ‘solution’. It’s these companies with bigger marketing budget and louder, arrogant claims that we have in our sights and which MarketSim can and does provide better answers to.
Making ABM Marketing Analytics Understandable
One of the other ideas we’re warming up to is that our ABM platform is really and truly unique in all the world of big data tools for marketing analytics. There may be other ABM platforms, but no other marketing analytics platform is built on a Nobel-prize winning model of how people actually make decisions. We made the Prospect Theory model, developed by Daniel Kahneman and Amos Tversky, the basis for our algorithm and we’ve laid this detailed model into MarketSim. We also added a few more things in the marketing analytics arena that matter and help marketers develop and maintain an edge over their competitors – things like how distribution affects success (important in a product launch), how ‘sister’ brands are effected by the roll out of a media plan.
We also know that these aspects of marketing analytics are important – Venturebeat recently asked whether CMOs are wasting money on faulty marketing analytics (it seems they are) and MarketSim, as a marketing analytics tool is hard to beat. Our own experience in a recent webinar which compared ABM to the industry standard tactic of MMM was well attended and we’re seeing rapid growth in wanting to know just how MarketSim does what it does. If you are interested and have the time, you can view the entire 30 minute webinar in our Marketer Knowledge Transfer Library here, it’s under ‘Webinars’.
This 3 and a half minute video is our next shared content in explaining the power of ABM technology and our platform, MarketSim ABM Marketing Analytics.
As always, the development of MarketSim is a work in progress and how we talk about it is evolving as we speak to more and more marketers about it and gain the understanding of what’s needed to make our message clear.
We hope you enjoy the clip!