Marketing Mix Modeling Helped a Leading Retail Company to Improve Market Share and Increase Profitability by 23% – A Success Story by Quantzig
The client is a multinational retail firm based out of the Netherlands who was looking at leveraging marketing mix modeling solutions to improve its marketing effectiveness in terms of sales, share and profits. With the advent of new technologies such as IoT, AI, and VR, businesses across industries are gradually shifting to digital platforms. Consequently, [...]
The client is a multinational retail firm based out of the Netherlands who was looking at leveraging marketing mix modeling solutions to improve its marketing effectiveness in terms of sales, share and profits.
With the advent of new technologies such as IoT, AI, and VR, businesses across industries are gradually shifting to digital platforms. Consequently, most consumer purchases take place through multiple touchpoints with several factors influencing the purchasing decisions. Companies can mine marketing data with the help of marketing mix models to analyze their customer’s buying patterns. With the help of appropriate marketing mix modeling techniques, businesses can understand the impact of marketing spend across channels and can monitor their marketing activities in real-time.
Quantzig’s marketing analytics experts can help you figure out spend allocation for various marketing activities. Get in touch with them right away!
The client was facing several predicaments in allocating their marketing budget across different marketing channels. The retailer wanted to leverage marketing mix modeling solution to calculate their ROI for their marketing campaigns in real-time. Due to the unstructured marketing spend data scattered across different digital platforms, the client was finding it difficult to analyze datasets and draw accurate conclusions. Therefore, they approached Quantzig to leverage its expertise in offering marketing mix modeling solutions to tackle their business challenges and improve market share.
We help companies to make accurate marketing spend decisions with the help of smart market mix models. Request a Free proposal now to gain in-depth insights into our portfolio of analytics solutions.
Solutions Offered and Value Delivered
The marketing mix modeling experts at Quantzig adopted a comprehensive approach that revolved around the use of marketing analytics to identify and deploy the ideal marketing mix model. The retail player was involved in multiple marketing activities. So, the experts first found it essential to gauge the contribution of each of their marketing investments to find potential growth drivers for specific product groups. The solution offered helped the client to identify major gaps and reallocate their marketing budget efficiently to better support their marketing initiatives. As a result, the retail company witnessed a significant improvement in its market share along with a 23% increase in profitability.
Request a FREE demo to know how our marketing mix modeling solutions can help you identify activities that actually can drive revenue.
Quantzig’s marketing mix modeling solutions also helped the client to:
- Improve marketing campaign effectiveness
- Monitor short-term marketing and promotion activities
- Improve market share by 47%
Advantage of Quantzig’s Marketing Mix Modeling Solutions
Quantzig’s marketing mix modeling solutions deliver in-depth insights into market dynamics through visually interactive analytics dashboards. We help companies to gauge complex customer behaviors at an individual level and build a complete view of individual customers across attitudinal and behavioral dimensions. Also, by leveraging our marketing analytics solutions, companies can integrate data across all marketing channels and consolidate it into a common marketing view that provides invaluable assistance in driving marketing efforts forward.
To learn more about benefits of our marketing mix modeling solutions, request for more information below.
Take a look at our latest article where our analytics services leader decodes the market mix modeling myth: