As the adage goes, half your marketing dollars are wasted, but you don’t know which half. There are more options than ever to reach customers through different media, and with each decision customer share of the wallet is up for grabs. How do you best allocate your marketing dollars to drive incremental sales? How should you deploy your marketing spend across messages, media, vehicles, markets and time? Are you confident you’re optimally allocating this spend today to maximize the return on investment? With marketing mix modeling, you’ll gain actionable insights and recommendations to inform more targeted marketing decisions, not just metrics.
What if you could go into every marketing meeting armed with statistical insights to tell you when, where, and how much to invest in every marketing campaign? What if throughout the year as you test new campaigns, you could dynamically isolate the impact and continue to refine the message? What if you had the ability to truly isolate and quantify the ROI of your marketing efforts down to the message, medium and market level?
Marketing mix modeling uses advanced predictive analytics and statistical modeling to provide you with actionable insights that drive business outcomes. Whether you’re a retailer trying to drive traffic to stores, a cruise line preparing for wave season, or a hotel trying to market a new location, marketing mix modeling is for you. Marketing mix modeling can deliver one-time recommendations to optimize your media spend heading into budget planning season, or deployed as an ongoing analytics capability that continually and dynamically measures marketing performance and recommends optimal allocation of investment.