Few people would contend that the modern consumer journey leading to purchases of products and services is easy to understand. But for Wavemaker, it\u2019s a distinct way to both differentiate itself from other agencies while helping brand marketers cope with fragmentation and focus on optimizing the right things.<\/p>\n

This is why Wavemaker\u2019s \u201cprincipal and defining obsession\u201d is with the purchase journey, says Global CEO Tim Castree<\/a>.<\/p>\n

It\u2019s not simply that chief marketing officers care about the purchase journey, Castree explains in this interview with Beet.TV. Research from IBM indicates that 83% of \u201cprogressive, transformational CEO\u2019s organize themselves and their own thinking around consumers and how they make their way to products and brands on the path to purchase,\u201d he says.<\/p>\n

\u201cIt\u2019s a very well understood context.\u201d<\/p>\n

The main reason why media, content and technology agency Wavemaker<\/a> is \u201cprincipally obsessed\u201d with the purchase journey is that it lets the agency simplify \u201cin a very complex world how we talk about our products, services and solutions. And how they work to benefit our customers and prospects.\u201d<\/p>\n

Asked about the biggest challenges facing CMO\u2019s these days, Castree points to the broad area of fragmentation\u2014less from an audience standpoint than a maze of choices in the digital era\u2014and how best to calculate ROI. He believes there has been an excessive obsessiveness with ROI.<\/p>\n

\u201cPeople are over obsessed with ROI past the point of diminishing returns. So we\u2019re optimizing increasingly to the lowest cost things, but we\u2019re not looking at the full picture of marketing returns over time.\u201d<\/p>\n

While market mix modeling has long been a staple of CMO activity, modern times have brought a lot of focus on multi-touch attribution. But according to Castree, \u201cA lot of those attribution models don\u2019t take full account of the effects of marketing over time and the way they build performance over time.\u201d<\/p>\n

The bottom line is over optimizing \u201cto the point of diminishing returns\u201d to the bottom of the purchase funnel.<\/p>\n

\u201cI think there\u2019s a lot of more fragmented decision making happening in the boardrooms as we think about things like programmatic or working with Google or on and on and on,\u201d Castree says.<\/p>\n

Wavemaker sees opportunity in bringing all the essentials together in a much more holistic and fully attributed approach to media and marketing, which leads full circle to understanding the consumer purchase journey not just as a concept.<\/p>\n

\u201cUnderstanding it econometrically is really the key for us to be able to give our clients the best advice about how to really reintegrate all of those pieces to drive a better outcome,\u201d says Castree.<\/p>\n

This video is part of a leadership series presented by Wavemaker, the GroupM media agency formed by the merger of MEC and Maxus. Please find additional segments from the series here<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Few people would contend that the modern consumer journey leading to purchases of products and services is easy to understand. But for Wavemaker, it\u2019s a distinct way to both differentiate itself from other agencies while helping brand marketers cope with fragmentation and focus on optimizing the right things. This is why Wavemaker\u2019s \u201cprincipal and defining […]<\/p>\n","protected":false},"author":17,"featured_media":50259,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"mc4wp_mailchimp_campaign":[]},"categories":[7028],"tags":[5299,5324,4865,5518,6671],"_links":{"self":[{"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/posts\/50134"}],"collection":[{"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/comments?post=50134"}],"version-history":[{"count":0,"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/posts\/50134\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/media\/50259"}],"wp:attachment":[{"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/media?parent=50134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/categories?post=50134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/tags?post=50134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}