What is optimiseQED?
Finding the optimal way to spend marketing budgets is a hard task. Marketers have to consider the various different objectives that a campaign may target plus the real-world constraints that might prevent them doing everything they wish. optimiseQED is our solution to this problem. It's a simple-to-use solution that helps you to find potential improvements to marketing plans building on the marketing mix models you have already created in our modelQED or strataQED solutions.
You can use optimiseQED to:
- Determine the optimal marketing mix for your campaigns
- Forecast the impact of media and marketing plans on your key performance indicators
- Compare the likely outcome of different marketing plans - helping you make better choices
- Determine what the right sized budget is to meet your sales targets
How does it help me find the optimal marketing mix?
To use optimiseQED successfully, we first need to start with a question - what do you want to improve (optimize) and what options do you have at your disposal? Once you've addressed these questions, you can then ask optimiseQED to use its powerful mathematical optimization engine to find the best way to allocate your resources. This process leverages the richness of your mix models to the full, taking into account such things as time-lag effects, diminishing returns, seasonality and interaction terms. The optimizations can be bounded by adding business constraints to reflect budget that has already been committed or industry norms (for example, minimum and maximum level of GRPs).
Who is it for?
optimiseQED is for any marketing professional who wants to:
- Optimize their marketing mix
- Create data-driven media and marketing plans that fully leverage their marketing mix models
- Efficiently run and compare scenarios; answer “what-if?” questions, and evaluate plans relative to financial goal
What do you need to get started?
In order to find the optimal marketing mix using optimiseQED, you will need:
- Some ideas about the spending constraints either by channel or per period for your drivers (optional)
- Assumptions around non-marketing drivers and how they are likely to behave in the future (optional, system defaults available)
- Goals (for example, is distribution going to continue to grow? Will competitors increase activity?
optimiseQED provides a range of outputs that can be used to determine how successful your future marketing plans are likely to be. These include:
- Volume, revenue and profit forecasts per proposed plan
- Comparison of the likely outcome from different marketing plans
- Optimal budget allocations given your objectives
- The split of marketing budget required to achieve your desired revenue or profit objectives
- The budget level required to meet your sales target
Does this sound like a tool you could work with? Contact us today and we’ll be happy to discuss options with you.