A marketing performance management (MPM) system employs statistical modeling and machine learning to holistically evaluate the performance of a company’s marketing initiatives on bottom-line impact. Its purpose is to help marketers allocate future spend and bring it in line with business goals.
Read next: How to decide if you should get a marketing performance management platform
If you have determined an MPM system makes sense for your business, here’s 20 questions to ask vendors:
- What platform hosting options are available (SaaS/cloud/on premise)?
- What are my options in terms of attribution modeling? Is there a set-in-stone pre-set formula or can I customize attribution modeling based on my own priorities?
- How do clients typically staff and manage the day-to-day operations of the solution?
- Do I need dedicated data scientists? What level of expertise is needed to get the full benefit of the system?
- What different kinds of data (e.g. from online paid media, from website analytics and from offline media or phone calls) are available for integration and for appending? Does the vendor specialize in a particular channel, vertical or campaign objective?
- How does the platform monitor integration successes and/or failures. How does it report on data variances or anomalies?
- How does the platform handle connectors and integrations with outside martech and business systems? Are your must-have integrations routine and proven, or work the vendor will perform after adoption?
- What is the system’s approach to integrating with the specific martech and ad tech systems that your company uses? Just because a connector exists doesn’t mean it will necessarily work for your organization and how you use that third-party platform.
- How does the platform employ machine learning for data analytics, such as predicting
- customer journey trends and modeling out scenarios for future budget allocation?
- Does the platform feature real-time or near-real-time connections with execution systems (e.g. DMPs, social networks) so that you can act quickly on insights and tweak in-flight campaigns?
- What data security regulations does the platform comply with?
- What data security certifications does the platform have?
- Is an annual contract required? Or can we trial the solution with a short-term contract?
- Will there be a price increase when I renew next year? If so, will the vendor commit to limits on annual increases?
- What are the additional fees (e.g., set-up costs, add-on features, API, quotas)?
- How long is the onboarding process typically? Will the vendor supply engineers to assist in implementation? Who will be the day-to-day vendor contact?
- What support is included in the price? What support is additional?
- Who pays if your system/team makes an error? For example, if a software bug results in overspending on a campaign or incorrect audience targeting, is the vendor responsible for covering those costs?
- Will the vendor’s support team work with us to test new features and assess results?
Download the MarTech Intelligence Report: Enterprise Marketing Performance Management Platforms: A Marketer’s Guide
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