A More Strategic Approach to Marketing Mix Modeling
Any statistician can run models and many firms do nothing more than modeling. This leaves their clients with results to report and simple direction on re-allocating budgets to change the marketing mix. But managing marketing effectiveness requires strategic decisions beyond simply changing the spend level by marketing channel. Since 1997, Lenskold Group has delivered innovative ROI and measurement solutions to improve marketing performance. We have developed models for B2B, B2C and non-profit organizations.
Lenskold Group’s approach is more holistic so marketing is increased in high-ROI channels, is made more efficient for low-ROI channels and gets improved effectiveness for low-impact channels. Model results are validated in market to build confidence and eliminate internal questions as to a model’s “black box” calculations of marketing lift.
Lenskold Group’s approach is more holistic so marketing is increased in high-ROI channels, is made more efficient for low-ROI channels and gets improved effectiveness for low-impact channels. Model results are validated in market to build confidence and eliminate internal questions as to a model’s “black box” calculations of marketing lift.
Our Approach
- Designs the modeling methodology to better capture marketing impact on more complex B2B and B2C sales
- Provides interpretative analyses and action plans designed around increasing immediate performance while also making efforts to improve under-performing channels
- Brings our deep financial expertise to support ROI calculations ranging from initial purchase to customer lifetime value
- Integrates modeling into a more comprehensive measurement plan to further maximize performance over the long-term
- Offers the option to leverage the results into our advanced marketing ROI scenario planning tools to guide marketing mix plan development
If you would like to learn more about the basics of marketing mix modeling, watch our 10-minute recorded webinar.
Lenskold Group can show you how marketing mix modeling can be central to an integrated measurement plan that demonstrates and delivers high-ROI advertising and marketing. If you would like to discuss your unique measurement needs, contact us for additional information.
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