Challenges of Marketing Measurement with Neil Hoyne, Chief Strategist @ Google

What are the biggest challenges facing marketers and analysts today? Is it privacy regulations? Technology changes? AI? In two words: unmet expectations. Neil Hoyne, Chief Strategist at Google, shares his insights into the evolution of marketing measurement given the current environment and challenges. Even with MMMs and incrementality testing, at the end of the day the organizations that win will be the ones that can take action and make decisions based on the data. This is not a tool problem, or a data problem - it’s a people problem. Organizational friction and human behavior is still there. Listen in as we discuss the resurgence of Marketing Mix Modeling (MMM) as essential tool for marketers in a privacy-centric era, the importance of adaptability within the marketing industry, and the crucial role of storytelling and relationship building in data interpretation. 📺 ⁠⁠Watch on YouTube⁠ Links from the show: ⁠Neil on LinkedIn⁠ ⁠Journal of Consumer Research Journal of the Academy of Marketing Science Journal of Marketing Timeline: 00:21 A Dive into Historical Context 01:08 Setting the Stage for Today's Episode: The Marketing Measurement Dilemma 02:44 Introducing the Expert: Neil Hoyne 03:54 The Evolution of Marketing Measurement Post-COVID 06:19 Challenges and Expectations in Modern Marketing Measurement 16:51 The Resurgence of MMM and Addressing Organizational Challenges 22:08 Bridging the Gap Between Data and Decision-Making 23:22 The Future of Measurement and Analytics in Marketing 26:47 Exploring the Imperfections of Marketing Tools 27:05 The Complexity of Understanding Consumer Behavior 28:10 Navigating Uncertainty in Marketing Decisions 29:04 Competitive Advantage in Consumer Behavior 30:26 The Quest for Better, Not Perfect, Marketing Models 32:12 Bridging the Gap Between Data Science and Business Goals 33:52 Embracing Imperfection and Business Impact 38:05 The Future of AI and Its Impact on Marketing 43:08 Adapting to Change and Embracing New Skills 46:25 Final Thoughts and Advice for Marketers