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Marketing Mix Modeling @ AbsolutData
In a world of increasing competition & rationalization of every marketing investment, there is an increasing pressure on Marketers to assess the relative ROI of various marketing campaigns. Key challenge is to optimize marketing activities & allocate resources in order to maximize sales, profitability and return.
In order to meet these challenges, AbsolutData offers advanced marketing mix modeling capabilities that quantify efficiency and productivity of a company’s marketing efforts on product sales.
Marketing Mix Model can be used by marketer as a tool to define marketing strategy for a product or service:
* Identify and quantify sales, marketing and advertising activities and spending that drive sales
* Derive the historical and future impact of each element of the marketing or media mix
* Determine the share of impact of each activity on sales
* Determine the ROI for each activity
* Determine the optimal mix of media that will drive new customer acquisition while optimizing total return on customers
AbsolutData uses wide range of analytical & statistical methods to build Market Mix Model for client:
1) Basic Modeling
* Linear Regression
* Mixed Models
2) Enhanced Modeling
* Structural Equation Modeling
* Hierarchical Bayesian Estimation
* Non Linear/Ridge regression
Apart from quantifying Market Mix Modeling results, we also provide actionable recommendations that enable our clients to better allocate spending and increase their Return On Investment (ROI) by adopting more scientific approach.
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