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Real-Time Marketing Mix Modeling: The Way Forward

Marketing Mix Modeling was first adopted by large consumer packaged goods companies in the late eighties and early nineties. This statistical technique shone a light on which parts of their marketing program were delivering the best results and which were the least effective in driving volume and revenue growth, in order to adjust their marketing programs accordingly. Today, the technique is widely used by companies across industries such as consumer packaged goods, retail, telecoms, financial services, travel and hospitality, automotive and many others - industries which traditionally spend heavily on marketing - in a bid to optimize their marketing spends and maximize Return on Investment (ROI).   Times Have Changed

5 Trends Marketing Analytics Companies Should Be Preparing For

Rahul Budhraja, Co-Founder and Managing Partner, Analytic Edge, talks about some interesting topics that keep cropping up in client conversations — unified Marketing Mix, upping the use of AI, the emergence of social listening, insistence on more real-time insights from marketing analytics and a re-thinking of how analytics firms should present results to clients. He thinks analytics firms would do well to prepare for these areas. Yes, I agree ‘Top Trends’ blogs are usually published at the start of the year. I just wasn’t writing very actively then, but during my many conversations in the past few months with marketers, media agencies, analytics industry colleagues and others, some interesting themes kept surfac...

Delivering Stronger Marketing ROI with Marketing Mix Modeling

Consumer marketers today are faced with a multitude of choices ranging from traditional to digital and social media when trying to determine their optimal marketing and promotions mix. Marketing mix modeling is a proven tool to help optimize budget allocations to boost marketing Return on Investment (ROI) and growth, writes, Rahul Budhraja, Co-Founder and Managing Partner, Analytic Edge. Let’s start with a story. It’s budgeting season. And Brian is at work trying to figure out answers to a dozen questions on his mind. “Has my Out-of-Home advertising really been contributing to sales? Should I turn down Out-of-Home and up my spend on TV ads?  Or is more digital and social the way to go? It’s what everyone ...

Business Insights

Business Challenge: A beverage client needed a complete annual business review

Approach: Exhaustive analysis of sales and share trends for client brand and competition, pricing activity, promotional activity, performance by class of trade, by region and for key retailers, evaluate new product activity

Business Impact: Client empowered with the latest view of their business and able to identify new opportunities: to gain share, launch new products etc.

Automation

Business Challenge: A CPG manufacturer had a manual data load and refresh process and they were spending over a week every month to update forecasts in their Business Plans. They were not spending enough time to understand drivers of forecast variance to better inform their forecasts. There were manual errors from copying & pasting and the lack of standardization & disorganized file structure made the process complex and cumbersome Approach: Developed an automated desktop tool to dynamically extract data from multiple sources, cleanse it and update forecasts swiftly Business Impact: Eliminated manual errors and the team now spends more time on insights rather than execution of the t...

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