Marketing mix modelling platform Mutinex is here to hold third-party partners accountable to client spend, according to the freshly minted APAC CEO Mat Baxter.
Brands, in the midst of marketing budget constraints, are asking for 20% better returns on every part of their supply chains. Mutinex is helping clients deliver that.
This can impact the traditional agency-client relationship, making sure clients are getting the best possible returns on investments.
“I can see how what we do might be threatening to some agencies,” Baxter, the former global media agency chief, told AdNews.
“It's challenging to have the effectiveness of your work independently measured.
“But the reality is that once we get rolling with an agency and customer, many agencies have come to see us as an invaluable part of the equation.”
And disruption is necessary, given the evolving landscape of the marketing industry.
“My observations of the agency side is that there are numerous challenges on the agency side of the business - I would argue that whether those challenges are being met at the pace that they need to be is a questionable thing,” Baxter said.
Mutinex’s users are mostly direct with client-side marketers but agencies are part of the broader ecosystem.
“Agencies often supply data because while clients are the owners of the data, the custodians of the data for media spend are typically their agencies,” Baxter said.
This future-focused mode is what attracted Baxter to jump from the service-driven nature of agencies and invest $500,000 into the performance and growth analytics product.
“We are one of the fastest-growing companies in the country and we’ve got a product that is highly disruptive, adding value all over the place to all sorts of companies, in all sorts of categories,” Baxter said.
“I wanted to be in a business that was highly disruptive, and more importantly, focused on the one thing that marketing's future is dependent on - growth.
“If marketing can't prove it helps companies grow, then the future of marketing is bleak.”
This sentiment is reflected in the company’s consumer stickiness working with over 90 brands currently, boasting a customer retention rate of 94.3%.
The platform sees an average of 5.35 monthly active users per customer, with users typically logging in for 7.2 sessions per month, each lasting just over 13 minutes.
Its most popular feature, the ROI optimiser, allows customers to explore different channels against their ROI, solidifying the platform's role in strategic decision-making.
The driving force behind Mutinex’s success is its commitment to solving a fundamental problem for its users: understanding what works and what doesn’t in their marketing efforts.
“That is a really exciting area for our industry and for the business to be moving into,” Baxter said.
“The user case is really simple – the problem users are solving is what works and what doesn't work.
“How do I spend my money better? How do I make myself, my company, and my broader partner ecosystem, i.e., agencies and others, more accountable and better performing than they are right now?
“Who doesn't want that?”
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