Marketing Mix Modeling

Evaluate your conversions and sale processes with greater accuracy for better ROI than ever.

Attribution is a pervasive business challenge. Whether it’s uniting on and offline marketing channels, or multi-touch point sales, traditional analytics software can't attribute marketing spend effectively.

Wells & Harris use statistical Marketing Mix Modeling to help you better understand the effect of all your marketing efforts on your sales. Using this analysis we can also forecast sales using different marketing spend strategies.

  • Seasonal Campaigns

    With a top-down approach, MMM analysis helps you understand the impact of seasonal promotions or time-limited campaigns. Understand the bigger picture beyond basic CTRs and site visits.

  • Online & Offline

    Offline marketing is no longer an unknown with MMM. Find out just how well your offline campaigns perform and adjust your budgets with greater rationale.

  • Privacy-Safe Analytics

    As more users browse with blockers or decline cookies, MMM helps you continue to track consumer behaviour with accuracy and efficacy..

Case Study

Client
Fitness Studio Chain

For businesses that engage seasonal campaigns, as well as offline and online marketing, tracking attribution can be an ongoing challenge. To assess the impact of a UK fitness chain’s holiday season TV campaigns, we took into account the various channels through which customers found them and built a comprehensive statistical model that not only allowed for greater conversion analytics, but also allows for long-term projections for future campaigns.

For example, historical sales data and marketing spend can be used to determine the impact of different marketing activities on sales volume. This could include assessing the impact of TV ads on sales in different regions, the effectiveness of social media campaigns on driving sales, and the impact of promotional pricing on sales volume.

Using the insights gained from the marketing mix modeling analysis, we then offered guidance on how to develop a more optimal marketing budget allocation that maximises the return on investment for each marketing channel. This included increasing spending on channels that have been shown to be more effective in driving sales and reducing spending on channels that have shown to be less effective.

Overall, marketing mix modelling works for the current day-to-day strategy, as well as guiding better use of the overall marketing budget in future campaigns.

Year
2022