Media Mix Modeling
Marketing executives have always been tasked with demonstrating an appropriate return-on- investment, and these pressures will continue to grow. The goal of our ROI service offering is to help optimize the overall return from all marketing spend. Tersus Strategy offers a breadth and depth of analytics expertise to help our clients understand and predict media performance. Understanding that, as a message weaves it way through various mediums, it builds impact. And, by leveraging this combined impact appropriately, marketers can increase the return from their investment.
Typically, marketing mix modeling involves the use of multiple regression techniques to help predict the optimal mix of marketing variables. Regression is based on a number of inputs (or independent variables) and how these relate to an outcome (or dependent variable) such as sales or profits. Once the model is built and validated, the input variables (advertising, promotion, etc.) can be manipulated to determine the net effect on a company’s sales or profits.
Through marketing mix modeling, we use advanced statistical techniques coupled with a deep understanding of your industry and market to measure the performance of your marketing mix. Our approach is customized to address your specific market, your unique brand, and your business challenges.
We identify the strengths and weaknesses of your marketing programs and address your key issues with your media mix: traditional media, digital media, social media, price, promotions and other factors. We examine external influences such as competitive actions, seasonality and economic conditions to understand how these other factors impact your sales performance. The results of our marketing mix modeling are used to improve performance by improving the effectiveness of marketing and reallocating spending for increased marketing ROI.