Same Budget, Better Results:
Fortune 200 insurance leader sees 10% revenue uptick by optimizing media allocations to drive sales results
The Scenario
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
Our Approach
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.
Their Results
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.
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