Innovations and Best Practices in Marketing Effectiveness

In the dynamic world of marketing, innovation and strategic integration are crucial for driving business value. Kasha, the Chief Media Officer at Known, shares insights into how their agency leverages data, analytics, and technology to redefine marketing effectiveness and help Marketing Procurement achieve business results.

Interviewer: Thank you so much for joining us today, Kasha. To start, could you tell us a little about Known and its unique approach to marketing procurement?

Kasha: Hello, and thank you for having me. Known is a coming together of three different companies — a data and analytics company, a brand strategy company, and a creative agency. We were founded four years ago with the vision to offer everything modern marketing requires and to reintegrate what has been pulled apart over the past two decades. Our goal is to drive business results for our clients through extensive integration and collaboration across all aspects of marketing.

Interviewer: How does Known leverage data and analytics to maximize marketing efficiency?

Kasha: At the heart of our approach is our relentless focus on using data science and technology to maximize the impact of every dollar spent. We start by staffing our teams differently, creating a new kind of role called a “buyer scientist.” These professionals have advanced degrees and specialized education in business analytics. They help us aggregate and generate data, measure performance, model outcomes, and optimize strategies. This data-driven approach allows us to deliver unparalleled results for our clients.

Interviewer: Can you explain the role of technology in your marketing process?

Kasha: Absolutely. We have built some of the most advanced technology platforms in the industry over the last four years. Our planning tools take advantage of granular data to plan, buy, and optimize media effectively. Our SkepticTM platform, where we do much of our automation and AI work, has a significant impact on our clients’ success. We focus on relentless testing and optimization, continually refining our approach to ensure we’re investing in what works best for our clients.

Interviewer: Known has won several prestigious awards. What sets your agency apart from others?

Kasha: I believe our success comes from taking a fundamentally different approach. We are deeply rooted in data and analytics, which we consider our secret sauce. By focusing on data science and technology, we maximize the impact of our clients’ marketing investments. Our unique staffing model, advanced technology platforms, and commitment to continuous optimization set us apart. We’ve won multiple awards, including Ad Age’s A-List and Data & Analytics Agency of the Year as well as Digiday’s Best Use of Data award, reflecting our excellence in these areas.

Interviewer: How does your compensation model differ from traditional agency models?

Kasha: We recognized that there is a lack of trust in the industry due to decades of opacity in how agencies make money and price media. To address this, we adopted a compensation model based on transparency and performance. We don’t engage in arbitrage or principal-based buying, and any rebates from media partners are transparently passed back to our clients. Our model involves building a staff plan to deliver the scope of work, billing at cost, and setting KPIs to measure our performance against which we earn our profit. This alignment ensures that we succeed only when our clients do, fostering a deep and meaningful partnership.

Interviewer: Can you provide an example of how AI and automation have impacted your staffing plans?

Kasha: Certainly. We’ve undertaken an aggressive automation and AI enablement effort over the past two years. Many tasks traditionally done by junior resources are now automated, allowing us to focus on more strategic, high-value work. For instance, we’ve automated quality assurance, search copy development, and the identification of relevant subreddits for clients. This has reduced the need for junior staff, enabling us to allocate more senior, strategic resources to our projects.

Interviewer: What challenges do you face with clients when implementing your innovative practices?

Kasha: One common challenge is educating clients on the benefits of our unique staffing and compensation models. For example, when we submit a staffing plan with fewer junior resources, it sometimes raises concerns about cost per full-time equivalent (FTE). We then explain how our automation and AI efforts allow us to operate more efficiently and effectively, even with fewer resources. Additionally, metrics like CPM efficiency can be misleading, so we emphasize the overall value and effectiveness of our strategies rather than focusing solely on cost metrics.

Interviewer: How do you ensure compliance and risk management in your processes?

Kasha: Compliance and risk management are critical components of our process. We implement robust processes to ensure that our Known team complies with all relevant regulations. Our data governance frameworks protect sensitive information, and our focus on transparency in our compensation model helps build trust with our clients. By prioritizing these aspects, we mitigate risks and ensure that our practices align with industry standards and our clients’ expectations.

Interviewer: What future trends do you see shaping the field of marketing procurement?

Kasha: The future of marketing procurement will be heavily influenced by technological innovation, increased focus on sustainability, and the need for greater agility. Organizations must stay ahead of technological advancements and integrate new tools seamlessly into their strategies. Sustainability and ethical considerations will continue to gain importance, and procurement teams will need to adopt more agile practices to respond quickly to market changes. Those who can navigate these trends effectively will drive significant strategic value and achieve their marketing objectives.

Interviewer: Finally, what advice would you give to organizations looking to enhance their marketing procurement strategies?

Kasha: My advice would be to embrace data-driven decision-making and leverage advanced analytics to gain insights into market trends and supplier performance. Develop strategic partnerships with suppliers and integrate procurement within your overall marketing strategy. Focus on the total value delivered by suppliers, not just cost savings. Adopt agile procurement practices to stay responsive to market changes and ensure robust compliance and risk management processes. By following these best practices, organizations can maximize the impact of their marketing procurement and drive significant business value.

Interviewer: Thank you, Kasha, for sharing your insights and experiences with us today.

Kasha: Thank you for having me. It’s been a pleasure discussing the evolving role of marketing procurement and how Known is leading the way with innovative practices.