LONDON--(BUSINESS WIRE)--Global analytics and advisory firm Quantzig recently completed a marketing mix modeling study for a leading US pharma company. The goal of the study was to quantify the contribution of each media type on incremental sales (NRx) and the ROI, as the client lacked visibility on marketing ROI.
As analyzing the impact of marketing activity across various distribution channels, media expenditures, and sales organizational structure becomes more difficult, organizations are increasingly turning to big data analytics to ease the process. Marketing mix models are gaining popularity as this method quantifies the impact of marketing strategies based on an organization’s past marketing spend. Just recently, Facebook and Google made news with their decision of adopting marketing mix modeling for measuring performance and visibility.
According to Quantzig’s marketing analytics experts, “Marketing mix modeling is a powerful tool used to predict future media investments and understand the marketing ROI. Based on the historical marketing data and performance, it proves to be highly beneficial, provided the historical data collected is accurate.”
The client turned to Quantzig’s expertise for the project because the marketing analytics solutions provided by Quantzig have proven to help increase sales by 19%. These results are achieved by quantifying short-term impact for marketing activities from each channel, while also giving a broad picture of long-term expectations.
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This study provides insights such as:
- Comparative ROI across media types based on advanced regression methods
- Insight into contribution of brand equity advertising on incremental prescriptions (NRx) and the ROI from each media type
- Analysis of each campaign to understand the ROI and incremental prescriptions generated at a granular level
- Synergy analysis to identify direct and indirect impact of media types on incremental prescriptions and the ROI generated
- And many more
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.