LONDON--(BUSINESS WIRE)--The telecom industry is getting volatile with time, and organizations need to allocate marketing and media spend wisely to identify and attract high-value customers. Due to shifting consumption patterns of consumers along with the advent of digital channels, marketing mix models and techniques need to be updated with the unprecedented demand for more real-time and customized solutions.
A leading telecommunications company in the US approached Quantzig to increase its market share in the retail space based on marketing mix optimization of marketing spends. Quantzig’s marketing analytics team collected data to develop effective marketing mix models. They did this by assessing competitor sales data, media spending, and GRPs for display, paid search, social media, and purchase funnel indicators.
The study helps organizations in achieving improved ability to quantify marketing effectiveness of channels and events in terms of ROI, revenue, contributions, and incremental sales. It also supports future investment decisions based on simulated scenarios and creates real-time solutions for investment decisions, providing executive management a powerful decision support system.
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This study provides insights such as:
- Comparative ROI analysis across media types based on advanced regression methods for each product (wireless, internet, and cable)
- Insights into contribution of brand equity advertising on incremental sales at national and local levels
- Campaign analysis of individual campaigns to understand the ROI and incremental sales generated at a granular level for cable television
- Synergy analysis to identify direct and indirect impact of media types on incremental sales and the ROI generated
Recently Facebook and Google have adopted the marketing mix model for measuring performance and visibility. However, Quantzig notes that this model isn’t just for tech and analytics giants. Other types of firms can also reap the benefits of this method to improve marketing campaigns and increase sales. Quantzig’s marketing analytics experts released their top four reasons why businesses should adopt marketing mix modeling:
View Quantzig’s list of top four reasons to adopt marketing mix modeling
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 12 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.