E-commerce

Optimize media mix over channels

Doel

Goal

Optimally allocate marketing budget.
 
 
 
 
 

For many e-commerce companies, there is one very important factor that drives both costs and sales: marketing. But where do you as a company have to spend your marketing euros? Adwords? Facebook? Or a TV campaign? How do you find out in the complex landscape of mixed marketing campaigns how much effect every euro really has? And at what point investing in a particular channel has no effect anymore?

Doel

Motivation

The effect of campaigns is hard to measurable.
Veneficus

Many marketing managers can measure the impact of individual marketing campaigns, such as conversion of an Adwords campaign. The indirect effect of a TV commercial on turnover is already a bit more difficult to measure. But how can you reliably mesure the effect of numerious campaigns? The different campaigns also affect each other. It is therefore essential to know that the TV commercial does not contribute enough, so that the budget can go to an extra Facebook campaign next time!

 
 
 
 
 

Result

More efficient use of media ensures improved performance.

The marketing manager chooses a performance indicator: revenue, or perhaps even brand awareness. She gives a budget and with the push of a button an ideal budgeting follows the different channels that the team can use.

Doel

Approach

With Bayesian modeling all direct and indirect influences are analyzed.
 
 
 
 
 
Veneficus

We use a unique Bayesian model that can take into account all the different influences that come with marketing. First of all, the influence of different campaigns is analyzed. But the model also corrects for any delayed effects of campaigns on performance indicators and the ceiling on the impact of campaigns. These are elements that are very difficult to analyze with other techniques.

Solution

Effortlessly, the marketing manager sets the budgets for different channels for next year, or which marketing campaign has the most impact to achieve the goal for next week.

Doel

Roadmap

What could be the next steps to Optimizing Intelligence?

1

Campaign optimization

By making an in-depth analysis after the optimization over channels also specific campaigns can be optimized. This allows the marketing manager to analyze which brands or products have the most effect on her performance indicators.

Result

Optimal effectiveness per campaign

 

Result

Budget allocation per campaign

2

Research online purchase offline

Customers do not always purchase online. The online channel is also used for research, after which customers complete their purchase offline. By identifying these purchases, the effect of online marketing activities on offline sales can be analyzed.

Result

Full insight into media effectiveness

 

Result

Improved insight into customer journey