Marketing mix modeling is an analytical approach that uses data and technology to quantify the sales impact of various marketing activities on overall strategy.
These learning’s are then utilized to adjust strategies, optimize effectiveness and guide decision-making by forecasting sales using what-if marketing scenarios.
Mix analyses apply data modeling technologies, statistical techniques and are used to calculate how the following contribute to sales revenue.
Media Type modeling calculates the contribution of owned, earned, paid and grant media (in the case of non-profit organizations) on marketing performance.
Advertising Channel modeling calculates the brand awareness and impact each advertising channel contributes to media consumption.
Media Consumption calculates the variance between brand awareness and marketing engagement, identifies high value activities and demonstrates the relationship to marketing qualified lead (MQL) generation.
Lead Generation quantifies the overall output of marketing operations and its contribution to sales qualified leads (SQL).
Quantifying and modeling these key performance metrics enables the organization to focus on reducing customer acquisition costs while increasing marketing output.
No longer reserved for large enterprises, mix modeling enhances organizational intelligence while improving internal operations. Start today, “know your numbers” and build on your successes.