Same Budget, Better Results:
Fortune 200 insurance leader sees 10% revenue uptick by optimizing media allocations to drive sales results
Seeking to get a handle on how various drivers—macroeconomic variables, marketing efforts, sales activities, etc.—were contributing to sales, a Fortune 200 insurance leader came to Analytic Mix for key insights to uncover:
- Optimal marketing budget to maximize the company’s new policy sales
- Allocation strategies across different B2C and B2B segments
- Segment-specific optimal investments across different media channels, including TV, print, and digital
- The impact of optimal media investment on different brand KPIs
We developed a robust data-science driven mathematical framework and used a variety of data assets (e.g., macro-economic data, media information, sales force information, etc.) to answer their business questions. We also developed a predictive scenario tool, enabling the company’s senior decision makers to extract marketing allocation scenarios under different budget conditions.
Without increasing budget, our insights helped the CMO gain revenue by 10%, and helped guide the media agency on efficiently planning and buying. Meanwhile, the in-house marketing team gained insights into optimal media allocation on various brand KPIs across segments, and the CMO saw first-hand the future revenue potential given the current marketing budget. The actual revenue forecast remained accurate at a 95% confidence level.
We can help you, too. Contact us.