What do you get when you combine continuous brand measurements and advanced modelling with true brand experts? The short answer is, a state of the art marketing mix model from a company that wants to see you succeed.
Whether you already know about our proven track record or found us from a Google Search, you can now relax and let us help you with your Marketing Mix Modelling (MMM). From our extensive experience and deep brand insights, we know how to suss out what makes specifically your brand tick, and what does not. Our experience gives our customers that needed edge on their competitive markets to win, both in the short and long run. This is what makes us different.
Brand perspective in MMMs is a game-changer
When we say “Brand perspective in MMMs” we back it up with success stories from our customers. Based on 15 years experience of analysing continuous brand tracking for both local and global brands, we typically use this type of data to incorporate the long-term effects of marketing in our models. Missing this perspective means a risk to make significantly wrong priorities. This is just a simple fact that has been proven over and over again, as marketing effects can take a long time to reach maximum impact.
Capturing both direct sales and brand effect from marketing
Read also: What is brand tracking and why is it important?
Nepa’s Modelling Process – The road to victory
The secret sauce of any successful modelling process is to have quality data. To ensure this, we manually curate all data before modelling. “We” in this case are our highly trained and experienced data scientists that work with data mining, statistical analysis, and build high quality prediction systems. You know, those people you want on your team when you play Trivial Pursuit.
Example of sales explained by each contributing factor (real estate industry)
After our data scientists ensure the quality of your data is up to par, they model your Ad Stock and its impact on advertising decay. The decay rate of each media is then automatically optimized and manually curated, both for its direct and its brand effects. Yes, we know that this sounds complicated and it is. But, we are not done here. To create a successful model, we also have to estimate season and trend components of sales by using time series analysis in combination with industry data. As a final touch, we use a Shapley value estimation on top of a multiplicative regression model to determine the impact of your media investments on sales and your brand over time. Both the direct sales effects and the longer term effects are quantified in a monetary ROI.
Read also: Brand research: What is it & why is it important?
The process is complicated, which is why you need experts such as our data scientists to do the math and make the complicated simple to use in your day-to-day marketing activities.
Marketing Mix deliverables that make sense
Key questions asked repeatedly: “How does communication affect sales compared to brand?”, “How efficient are different media in driving short term vs. long term sales?” and “What is the optimal investment level and Marketing Mix?”
Example of media mix simulation and optimisation
Our Marketing Mix Modelling answers all of these questions in easy to read tools and reports, and links it to monetary effects. Every stakeholder in your company can take part of the data, both for short term actions and long term planning, as well as balancing between the two.
Our goal is for you to wake up Monday morning and know exactly how and where to talk to your customers, and maximize sales.
Contact one of our brand experts today to implement Nepa’s Marketing Mix Modelling.