Marketing Mix Modeling to Improve Business Impact
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A national retailer worked with Analytic Partners to find the most efficient means of reaching customers across traditional and online media in a highly seasonal market.
Analytic Partners used an adaptive approach to look at which media and messages were providing the best ROI. The analysis led to a 36% increase in ROI and $16 million in incremental value.
Our client is a national retailer with a short seasonal window to close the majority of sales. The marketing team faced the challenge of planning out large advertising investments before the season while still being able to adjust and tactically optimize results during the season.
The Analytic Partners team focused on a holistic marketing mix to build the foundation by understanding business drivers, ROI and opportunities for optimizing spend. This was followed by Adaptive Modeling solution using Unified Measurement to provide both strategic and tactical insights.
The team found that national TV and search were the most efficient media channels and that there was a strong synergy between TV, search and display advertisements.
Further analysis uncovered how to improve ROI across channels, from specific quarter-hour TV spots, to copy length, to display add format, to leveraging other synergies like local radio.
Based on these insights and knowledge of cross-channel synergies, digital marketing was observed during the high-season and was continually optimized to improve results in real-time.
After implementing the new tactics, the retailer was able to boost its ROI by 36% and drive $16 million in incremental value. In a brief but important window of time, the holistic approach led to impressive sales growth.
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