Many large retailers analyze historical data to project future marketing budget allocations using a marketing modeling mix (MMM) approach. This descriptive approach however, has its limitations. Using data that is up to six months old to optimize budgets for a dynamic market in which customers, markets and media channels and tools are constantly changing, does not deliver the ROI it could.
There’s another approach—a predictive one—that uses AI and ML tools to optimize marketing budgets and can save retailers millions in marketing dollars, while increasing market share.
In this paper, The One Shift to Marketing Mix Modeling that Can Yield Millions in Incremental Revenue, you will learn about:
• a new approach to marketing mix modeling
• the new AL/ML tools to sales high during black swan events like a pandemic
• how to predict, simulate and optimize your marketing mix to realize significant savings on advertising while realizing greater results
• how a Fortune 500 pet food brand realized millions in incremental revenue using this approach