A financial services provider asked us to perform an analysis on the effectiveness of their media and marketing and move beyond a last click analysis of performance.
A financial services provider (FSP) wished to perform an analysis on the effectiveness of their media and marketing, in addition to wanting to move beyond a last click analysis of performance. They had recently launched a new brand campaign and wished to demonstrate its impact on sales of insurance.
We combined stakeholder interviews with an investigation of data sources. This allowed us to build an econometric model to assess the impact of every driving factor of the FSP’s sales, looking at the impact of marketing mix on the customer journey.
Understanding how many sales were driven enabled us to produce diminishing returns curves showing the impact on sales of every budget option. We were then able to identify underperforming channels and choose to either cut these from the budget or work on an improvement plan.
We produced data-driven models that depicted exactly how to optimise the media mix and improve the effectiveness of individual channels. This included an econometric model highlighting the value and success of various media mixes and marketing
spends. This is in addition to an analysis demonstrating different scenarios for how best to optimise the current strategy and usage.
The Take Away
The FSP’s media and marketing could be optimised to boost sales by 20% without increasing media budget, resulting in a real-life efficiency gain of
£21.2m for the client. The ROI of the our analysis, given fees of £200,000,
was £106 for every £1 spent.
Download this case study to see how Gain Theory was able to streamline media strategy and boost sales to create a significant efficiency gain.