New Analytics Developed for Improved Return on Marketing and Sales Investment
- This European Telecom sought to build a better Marketing Analytics foundation as an enabler for improving return on Marketing and Sales investment.
- The company’s existing approach to applying analytics had it’s limitations, with issues ranging from:
- Data sourcing, governance and quality
- Siloed sales and marketing practices, targets and metrics
- Consensus on unifying around a single fact-based source to support decision making
- Adopting a more advanced analytic approach to derive insights and regain its well-known competitiveness was a challenge.
How We Helped
This well-orchestrated, advanced analytics evolution took place in four months using a proven ‘fast-follow’ approach.
- In the initial phase, Marketscience helped the client established a centralized approach to Marketing Analytics, including: organization and governance; data sourcing, quality and harmony; advanced algorithms and models; optimization Software; and new, valued recommendations and insights to kick-start adoption across all of the client’s marketing system
- In the second phase, the Marketscience team spent two months providing a solid foundation of technical, integration and activation knowledge, working side-by-side with the client’s core analytics experts so they could generate insights more aligned to business strategies and objectives, better identify sales and communication channel performance and changing trends, and engage fully in ROMI optimization
- The final phase was given over to training key business users to effectively own, manage and operate the full analytic process; including, applying these insights in day-to-day business decisions and defining new processes that encouraged the adoption of these new Analytic capabilities across the Sales and Marketing enterprise as a whole.
To help manage the project successfully, we leveraged our Data and Analytics strategy, the client’s own network of operations expertise, as well as key Marketscience assets and enabling technology, including our end-to-end modeling platform MarketScience Studio
- Approved by Top Management, the client’s Marketing Analytics group now serves as the foundation for all Sales and Marketing planning, decision making, goal setting and program activation guidance
- Standard data and analytic processes adopted by all Client Product, Sales and Marketing teams
- Client analytics and insights team trained in the new analytics and ROMI optimization system
- Full deployment of the MSS modeling platform at client and integration in planning process
- Modification of client’s planning and decisioning processes to include new analytic system hand-offs
- Update and productionalization of core analytic processes, including a roadmap for future innovation
- The first modeling cycle generated a 15% improvement in operating profit by optimizing marketing budget allocation, holding the budget constant
- Reduced investments in lower performing tactics like direct mail, commissions, newspapers and increased investments in digital, TV, Promos and Search.