Marketing Mix Modeling to Improve Business Impact
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Buying a car is a decision most people will have to think about twice before acting. Our client took on the challenge of analyzing how consumers make their buying decisions and how to turn that into an advantage. They found a way to analyze and adapt to the long consideration period.
The automotive client required a marketing analytics solution that could properly measure the long consideration period typical among their clients. Understanding the true impact of a brand and how brand awareness interacts with retail and in-market drivers was crucial to making future investment decisions and optimizing the mix of existing and future nameplates.
Advanced models were developed using a custom metric for:
Digital attribution was leveraged to understand the growing share of online investments for tactical decisioning. An analysis by campaign / creative helped identify opportunities for shifts in messaging and support.
Investment opportunities were uncovered to further gain competitive advantage. In-depth decision trees with specific criteria were developed.
The analysis uncovered the relationship between branded advertising and its long-term impact onto retail advertising and dealership incentives. The proper value of branded messaging, and the amount of support needed throughout varying vehicle lifecycles, allowed us to successfully impact the marketing plan and longer-term portfolio profitability.
Strategic and tactical recommendations – taking vehicle insights into account as well as brand and portfolio-level implications – combined with optimization of marketing spend resulted in over $70MM in incremental revenue opportunities in year-one budget planning.
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