How Actionable Insights Increased ROI
Marketing Mix Modeling isn’t research, it’s business planning -- and it ought to drive growth.
ScanmarQED’s collaborative implementation was the key to 200% higher ROIs.
Our client was an old brand with a new Consumer Insights and Marketing team. They were tasked to turn things around. Both Consumer Insights and Marketing felt that historical spends were inefficient, but they needed evidence and recommendations before they could make major changes. Given the budgets, tight timelines and hands on nature of the team, they didn’t want to outsource this to a typical consulting-based Marketing Mix Modeling vendor.
Consumer Insights selected ScanmarQED because:
- Our software-based Managed Modeling Service could step in to perform the initial analysis very quickly and in only a few weeks we had actionable results and recommendations to inform the media buying cycle
- For subsequent work, the client’s Marketing Analytics team installed our software and quickly got up to speed on how to refresh and use the models themselves. This lowered their total cost, made them more responsive to their internal clients and provided more insights than the typical outsourced solution
What was the outcome?
Based on the learning from the initial work, Consumer Insights and Marketing worked with their media agencies to significantly alter the media plans, both in terms of budget allocation by tactic as well as the way each tactic was executed (flighting, markets, time of year, etc.). Return on Marketing Spend increased by 200% and every single tactic delivered at least twice as much revenue for each dollar spent. In addition to these improvements to the largest brand, the internal Analytics Team built Marketing Mix Models for their smaller brands which allowed the larger Consumer Insights function to have a more informed POV on strategic resource allocation between brands.
About the author: Brian Cusick
Brian Cusick leads the North American business unit for ScanmarQED, ensuring that both new and existing clients get the most value from our services and products. His expertise is in quantitative marketing research (previously worked at AC Nielsen, PepsiCo, Kraft Foods), with a focus on data driven business planning and marketing mix based optimization.