Report:
The Forrester Wave™: Marketing Measurement And Optimization, Q3 2023
How does Forrester define the Marketing Measurement And Optimization market in 2023?
The Marketing Measurement and Optimization (MMO) services market addresses B2C marketing professionals' need for expertise in measuring marketing effectiveness amid a fractured ecosystem. Providers offer advanced analytics including marketing mix modeling, attribution, and optimization to help brands navigate challenges like data deprecation, changing economic conditions, and disconnects between brand perception and identity. Leading providers differentiate through robust data assets, agile measurement practices with frequent model updates, and insights that support brand, growth, and efficiency objectives across multiple stakeholder goals.
Key Facts for The Forrester Wave™: Marketing Measurement And Optimization, Q3 2023 in 2023
- Publication Date: 23-Aug-2023
- Document ID:
- Summary: In our 38-criterion evaluation of marketing measurement and optimization (MMO) service providers, we identified the nine most significant ones and researched, analyzed, and scored them. This report shows how each provider measures up and helps B2C marketing professionals select the right one for their needs.
- Authors: Tina Moffett, Joe Stanhope, Emily Collins, Dan Beaton, Christine Turley
How did the Marketing Measurement And Optimization market evolve in 2023?
- 64% of global B2C marketing decision-makers have increased data and technology partnerships for better data capabilities amid data deprecation
- Frequency of model updates and insights are two of the top reasons customers chose their measurement provider
- Data sourcing and management is among the top measurement challenges for B2C marketing decision-makers
- Getting support and buy-in for insights presents a common hurdle to insights adoption
- Changing economic conditions, quality of customer data, and lack of alignment on business objectives challenge B2C marketers' growth strategies
- Measurement providers are investing in talent and services to bolster insights activation
- Leading MMO providers offer frequent model updates of less than two days and close to real-time data ingestion
- Providers continue to invest in data clean room experiments for tactic measurement
What product features are required to be included in this year's evaluation?
- A marketing analytics focus. We included only companies that specialize in marketing analytics. These providers primarily provide advanced marketing measurement services to their clients, including marketing mix modeling, media measurement, marketing program analysis, and experimental design services.
- Revenue. Each of the companies we evaluated earned at least $25 million from customer analytics engagements in its last fiscal year.
- Forrester mindshare. Each of the companies we evaluated has had significant interest from Forrester clients, as analyzed by inquiry and guidance session volume over the past 18 months.
What are the common features of top products in the Marketing Measurement And Optimization space?
No common features specified.
Scope Exclusions
- Providers not specializing in marketing analytics as primary focus
- Companies earning less than $25 million from customer analytics engagements
- Providers without significant Forrester client mindshare based on inquiry volume
- Technology platform vendors without comprehensive measurement services
- Pure-play attribution or single-method measurement providers without broader MMO capabilities
Inclusion Criteria
Vendors must, among other requirements:
- Marketing analytics focus - specializes in advanced marketing measurement services including marketing mix modeling, media measurement, marketing program analysis, and experimental design
- Minimum revenue of $25 million from customer analytics engagements in last fiscal year
- Significant Forrester client interest as measured by inquiry and guidance session volume over past 18 months
Offering Strengths — Relative Weighting
- Business scenarios and impact — 20%
- Measurement methods and management — 15%
- Client engagement and services — 20%
- Data management and services — 10%
- Talent — 15%
- Technology platform — 10%
- Global capabilities — 10%
Strategy Strength — Relative Weighting
- Vision — 30%
- Innovation — 10%
- Roadmap — 30%
- Partner ecosystem — 10%
- Pricing flexibility and transparency — 5%
- Talent strategy — 15%
FAQs
Q: What does this research cover?
A: This research covers a 38-criterion evaluation of the nine most significant marketing measurement and optimization (MMO) service providers. It evaluates providers across current offering (including business scenarios, measurement methods, client engagement, data management, talent, technology platform, and global capabilities), strategy (vision, innovation, roadmap, partner ecosystem, pricing, and talent strategy), and market presence (revenue and number of customers).
Q: Who should use this research?
A: This research should be used by B2C marketing professionals who need to select a marketing measurement and optimization service provider. It is particularly relevant for marketing decision-makers looking for providers that offer robust data assets, agile measurement practices, and insights to support brand, growth, and efficiency objectives. The research helps buyers evaluate providers' data depth, innovation, ecosystem relationships, measurement methodologies, and ability to translate insights into actionable business recommendations.
Q: What are the mandatory features of vendors included in this market?
A: All providers included in this evaluation must specialize in marketing analytics with primary focus on advanced marketing measurement services (marketing mix modeling, media measurement, marketing program analysis, and experimental design). They must generate at least $25 million in revenue from customer analytics engagements annually and demonstrate significant interest from Forrester clients through inquiry and guidance session volume over the past 18 months.
Q: What are some reasons for not being included in this report?
A:
- Does not specialize in marketing analytics as primary business focus
- Revenue from customer analytics engagements below $25 million threshold
- Insufficient Forrester client mindshare or inquiry volume
- Declined to participate in the evaluation process
- Only partial participation in evaluation requirements
- Primary focus on technology platforms rather than measurement services
- Specialization in single measurement method without broader MMO capabilities
Q: What should buyers consider when evaluating products in this market?
A:
- Provider's data assets depth, innovation, and ecosystem relationships to ensure future-proof models
- Frequency of model updates and insights delivery capabilities
- Ability to provide near real-time data ingestion and close to real-time insights
- Platform usability including graphics, charts, and scenario-building capabilities
- Provider's ability to align measurement strategy to multiple business goals (conversions, brand perception, loyalty)
- Services quality and ability to translate insights into actionable recommendations
- Global capabilities and local market expertise for brands operating in multiple regions
- Data sourcing and management capabilities to address top measurement challenges
- Training and support for insights adoption across stakeholder groups
- Partner ecosystem strength for data access and activation capabilities
Q: How has the Marketing Measurement And Optimization market evolved in 2023?
A:
- Data deprecation and privacy changes driving need for robust first-party data and alternative measurement approaches
- 64% of global B2C marketing decision-makers increasing data and technology partnerships for better data capabilities
- Growing demand for agile measurement with near real-time insights and frequent model updates (less than 2 days)
- Investment in data clean room experiments for tactic measurement
- Need for measurement that supports multiple objectives: brand building, growth, and efficiency
- Increasing transparency in data collection practices
- Investment in talent and services to improve insights activation and adoption
- Enhanced data accessibility and usability through improved visualization and scenario planning
- Integration of generative AI for data integration and platform usability improvements
Q: What differentiates Strength of Offering vs. Strength of Strategy?
A: Current Offering (vertical axis) evaluates the strength of a provider's existing capabilities including business scenarios, measurement methods, client services, data management, talent, technology platform, and global reach. Strategy (horizontal axis) assesses the provider's future direction through vision, innovation, roadmap, partnerships, pricing flexibility, and talent development plans. Offering focuses on present capabilities while Strategy evaluates future positioning.
Reference
- Forrester, The Forrester Wave™: Marketing Measurement And Optimization, Q3 2023, 23-Aug-2023, ID
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