Sample Scenario: A leading QSR marketer seeks a new data science solutions partner to understand the business impact of their rapidly evolving media campaigns, both overall and on a per-channel basis.
Standard MMM objectives for their new partner:
- Analyze historical media spend to uncover which channels are driving the best return on ad spend (ROAS)
- Understand which media channels could deliver incremental sales if media dollars were re-allocated
- Define the impact that competitive brand activity, local promotions, and macroeconomic events have on sales and related KPIs
The QSR marketer also seeks advanced options:
- Additional speed and flexibility to make quicker adjustments to channel mix inputs based on initial MMM results
- As testing of new channels and media weights is now critical, MMM outputs must directly link to future strategic scenario planning
While their original partner may offer these options, additional ’per model’ costs and the delayed timing of revised outputs are problematic.
Recommended Solution
Arima’s live Market Mix Model platform provides the responsiveness the QSR marketer desires to address their discreet needs for:
- Enhanced flexibility & timing for nimble course-correction specifically allowing for dynamic refinement of MMM inputs in real-time to support the unique channel mix and media weights of each market region
- Options to run concurrent MMMs simultaneously to compare performance by location, franchisee, discreet regional geographies, and varied channel mix
- Subscription-based solution allows the client to run as many models as desired, at no additional cost
Additional Benefits
Arima’s live MMM platform provides the QSR marketer with performance updates whenever desired plus the added flexibility to run dynamic marketing tests on a monthly (or shorter) timeline:
- Holdout market tests can be incorporated to understand incremental lift of new channel mix (vs. existing campaigns), or the addition of new channels (e.g. radio/audio)
- Dynamic platform tool provides opportunities for marketer to engage in ‘what if’ scenario discussions on the projected sales if revised channel mix were to be incorporated to other regions or overall
- With no additional cost to run new models, marketer now possesses a wider array of testing options before deciding on an optimal mix and timeline to define media budgets and campaigns for the following cycle