Optimising Marketing Spend – Data Science Consultancy

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

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

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