Challenge
The company faced significant challenges in accurately measuring and accounting for the impacts of competitive behavior, a task that demanded a more in-depth analysis than in previous assessments. Concurrently, the company needed to quantify the effectiveness of its marketing investments, particularly crucial as it navigates flat to reduced budgets during the annual planning cycle.
To address these issues, the company focused on leveraging holistic measurement techniques to develop granular Customer Attribution metrics. This approach aimed to facilitate continuous reporting, enable real-time optimizations, and improve forecasting capabilities. These efforts were essential to optimize resource allocation, enhance strategic decision-making, and maintain competitive advantage in a constrained financial environment.
Solution
Ipsos MMA's approach to addressing the company's challenges involved a multi-faceted and highly granular strategy designed to enhance marketing optimization and competitive responsiveness. By building regional-level Marketing Mix Modeling (MMM) measurement across three key Inquiry channels, we provided a comprehensive assessment that included enhanced measurement of Competitive Media, Rates, and Rate Gaps. This detailed analysis allowed for the simulation of forward-looking conditions, enabling businesses to better plan and respond to competitive actions.
Additionally, Ipsos MMA developed deeply granular regional-level Customer Attribution, offering precise measurement across various sub-channels such as Direct Mail, Online Display, Paid Search, and Paid Social. To ensure these insights were actionable, we customized the reporting of annual, monthly, and weekly measurements, integrating these findings into Marketing Analytics. This unified approach facilitates the incorporation of measurement results into weekly forecasting, ensuring continuous optimization and strategic alignment.
Results
- Identified opportunities to increase incremental Inquiries +5% via reallocation to Digital Media, with further optimization opportunities within Direct Mail and Digital Media.
- Developed deeper understanding of competitive impacts on own marketing activities
- Enabled holistic view of marketing and media with opportunity to influence granular data points
- Developed historical measurement of Addressable Media Response Rate for use in ongoing weekly forecasting process