The Need

  • Client wanted to increase returns from their marketing budget by optimising their multi-channel strategy

The Solution

  • Data-driven models were built to predict the sales generated by different marketing strategies, providing insight into how different elements combine to drive these sales
  • The models provided insight at various levels, from overall channel-mix to campaign level and individul marketing actions
  • The models allowed the returns from the current marketing strategy to be predicted accurately, as well as the effects of proposed improvements to be assessed via virtual ‘What-If’ experiments
  • An optimisation module was added to automate such experimentation, allowing the client to ‘fast-forward’ to the best strategy possible given the resources available, in terms of mix of channel spend, campaign design & timing and resource allocation for inbound activity, maximising the ROI generated whilst ensuring all other constraints and targets were met
  • The models used take into account the impact of previous activity across all channels to ensure an optimal omni-channel approach is taken, thereby avoiding losses due to cannibalisation and ensuring maximum uplift is achieved from positive reinforcement between channels

The Result

  • ROI was increased by 135% & Sales by 100%, creating over £3M of additional profit annually, all from the same budget, resources and prospect pool
  • Solution also used to minimise the cost of achieving given sales targets and to assess the effectiveness of taking up last-minute advertising discount offers
  • Also used to help optimise promotional strategy and creative design, as well as resolve conflicts for limited resources between stakeholders

Other Success Stories

  • A financial product firm optimised their media planning using this approach, generating an 80% increase in profit levels as a result
  • A retail firm gained insight into the efficency of their current media-mix, including how channels combined to support or compete with each other, revealing the opportunity for a 5% sales increase by optimising the channel mix for the same level of marketing spend

For more information read our blog page “Turbo-Charge Your Marketing Spend” or contact us.