Central to Analytic Partners’ philosophy is the concept that in order to thrive, businesses need to continually adapt and evolve. This concept extends to the methodologies used for analytics and measurement. As new data is available and new challenges arise, advanced analytic approaches need to evolve, as companies adapt to the new environment. It is with that mindset that Analytic Partners has developed a proprietary solution called Commercial Mix Analytics that has become the foundation of our client offerings.
Our latest white paper takes a deep dive into Commercial Mix Analytics, a unified commercial decisioning system that incorporates brand, customer, operational and touchpoint analytics to provide strategic and tactical results with both granular customer and full business views. It is a forward-looking modeling and decisioning framework that overcomes the limitations of other solutions.
As the next evolution in measurement, this decisioning system provides rich insights that take into account the complexities businesses face in today’s world. Unified Commercial Decisioning with Commercial Mix Analytics goes beyond traditional Unified Measurement by rejecting the top-down/bottom-up framework of Marketing Mix Modeling and Multi-touch Attribution for a more robust and accurate, multi-dimensional, multi-layered approach. An evolution in measurement, Commercial Mix Analytics is holistic and multi-faceted, blending the best scientific methods, including statistical and ML/AI methods powered with deep intelligence, to deliver on the need for forward-looking insights, delivered with agility, speed and scale.
So, what does Commercial Mix Analytics look like in practice?
CMA in Action: A Case Study
The Challenge: A retailer was challenged with supporting an omnichannel strategy while also experiencing increased pressure from competition, particularly within ecommerce. The retailer has been closing stores to drive cost savings given reduced traffic and consumers shifting to purchasing more online.
Historically, measurement was siloed, with digital media leading online attribution analytics and Brand using their media agency for media mix modeling. In addition, their internal CRM team was running multiple tests for direct mail and email. Inconsistent results across these various measurement solutions resulted in skepticism and ultimately the inability to action. With new leadership in place at the C-level, the business was looking for more holistic omnichannel measurement to inform both strategic and tactical planning decisions at the overall business and customer level. The business was looking for a comprehensive solution to provide one version of the truth and address the following goals:
- Optimizing spend to drive omnichannel sales
- In-campaign activation of addressable media (search, display, online video)
- Acquisition and retention of highest value customers
- Understanding optimal timing of marketing efforts (CRM, promos, online media, offline media) to capitalize on synergies
The Framework: The measurement solution included Commercial Mix Modeling with Touchpoint Analytics, Customer Franchise Value and Agile Learning experimentation to address business challenges.
The Results: Ultimately, we found that the business can simulate and optimize:
- - Search keywords; considering seasonality and incrementality
- - Campaigns, creatives, and messages
- - Allocation of display and online video across partners/sites, platforms
- - New customer acquisition with audience segmentation
This enhanced level of adaptive decisioning has delivered incremental Value of +$120M vs. the brand’s prior MMM+MTA solution.
So, how did the Commercial Mix Analytics Decisioning System deliver over $100M in incremental value? Dig deeper into the full details, and learn how a holistic measurement framework can impact your business, download the white paper.
Commercial Mix Analytics can help your business evolve
Find out how the next evolution in measurement can work for you