How applied Data Science helped marketing team optimise budget allocation

Marketing & Sales teams leveraged their data to optimize marketing spendings up to 35% and evolved from “hunch” marketing with a marketing mix predictive model.

Business Case

Company’s data sources were dispersed and disconnected from each other. Data was unidentified, and therefore difficult to obtain- and workers were spending hours getting the correct data from the internal sources.

Company had highly fragmented and complex data regulations. Also, client’s  products were volatile based on unknown criteria. No measures were used in strategic decision making regarding products and sales.

The team required a solution ready to be used by non-technical marketing specialists.

Solution

Developed a tool tailored for the company’s regulations and compliance and data sources. Tool involved drag and drop, easy to apply usage.

Identified significant sources and factors building up the model to understand the impact of various channels of marketing spendings.

The tool enabled indicating possible outcomes of particular factors and forecasting marketing campaigns depending on the budget and chosen external factors.

Value

Attribution tool raised sales up to 32%. It helped the team understand and organize the channels and quantified the “hunch” marketing strategies.

At the same time marketing spendings were cut up to 25% with the increased sales results. Obtained data helped managers to clearly identify cost drivers.

100% of the employees willingly adopted the new tool. Most of them also moved to the new reporting and data visualisation elements.