This case study highlights how WNS’ advanced analytics-led marketing mix modeling solution enabled a leading Consumer Packaged Goods (CPG) company to measure and improve the effectiveness of marketing campaigns across brands and regions.
As we know…
Brand loyalty is on the wane in a hypercompetitive CPG marketplace. The pandemic changed buying behaviors and made customers open to trying new brands. The rapid shift to e-commerce and direct-to-consumer has also led to companies grappling with channel proliferation and rising customer demands.
CPG marketers must build stronger loyalty through effective and personalized marketing campaigns. However, without data-led insights and metrics, companies often fail to measure the true ROI on marketing efforts – leading to millions of dollars spent on sub-optimal and poorly targeted campaigns. Advanced analytics solutions such as marketing mix modeling can help analyze past and present patterns, and identify the quantifiable impact of marketing campaigns across channels to drive incremental sales.
The challenge for the CPG company was…
To track and measure the effectiveness of its marketing campaigns across several brands and global markets / sales channels. Due to multiple data sources across campaigns, channels and segments and the absence of consistent and consolidated data, extracting meaningful insights was a constant challenge. This adversely impacted the client’s decision-making on utilizing limited marketing resources. Moreover, the lack of a unified view of campaigns compounded the challenge.
With the rapid proliferation of sales outlets and marketing channels, the client wanted to insightfully and optimally allocate budget and resources for maximum returns.
As a co-creation partner…
WNS Analytics, our data, analytics and AI practice, deployed a marketing mix modeling solution to help a Fortune 500 company measure the true impact of marketing campaigns across brands, sales channels and marketing levers.
Leveraging our revenue growth management productized service through a combination of proprietary assets from AI utility hub and Human Intelligence (HI) approach to deliver a tailored and scalable solution.
-
Harmonization and aggregation of varied data sources (across brand campaigns, channels and segments) to ensure the right data was assimilated into the client’s campaign measurement platform. This included fragmented data from traditional and digital media channels, consumer surveys, attitudinal studies and sales
-
Development of Artificial Intelligence (AI) / Machine Learning (ML)-led marketing mix models to measure the effectiveness and efficiency of marketing campaigns for each brand across all marketing levers. These models are regularly inspected to overcome any drift over time
-
Creation of a comprehensive omni-channel playbook to generate insights into consumers’ responses to campaigns, resulting in a continuous improvement framework
-
Deployment of easy-to-use tools, including simulation and optimization software, for marketers to leverage the results for budgeting and scenario planning. Notably, our results seamlessly integrated with the client’s media partner’s tools for accurate and timely media planning
Real-time insights enabled…
The CPG company to assess what was working and what was not and dynamically alter its campaigns. Our AI marketing analytics solution enabled the client to re-allocate marketing dollars to maximize ROI for brands across diverse portfolios of products. Key outcomes for the client included:
-
Monitoring the impact of over USD 100 Million in marketing spend across brands and markets
-
Increasing total sales by more than 3 percent and additional profits by over 5 percent without any rise in spend
-
Providing a unified view of campaigns across brands within markets, leading to optimized campaign capabilities
-
Enabling efficient do-it-yourself planning, with the simulator and optimizer tools deployed across the organization to further streamline marketing spend allocation
About WNS Analytics:
WNS is a digital-led business transformation and services company with 60,513 professionals across 64 delivery centers worldwide, including facilities in 13 countries. WNS combines deep industry knowledge with technology, analytics and process expertise to co-create innovative, digitally led transformational solutions with over 600 clients across various industries. WNS Analytics is the Data, Analytics and AI practice of WNS that enables business decision intelligence for clients by combining Artificial Intelligence (AI) and Human Intelligence (HI). We cater to 250+ global companies including Fortune 100 and Fortune Global 500 organizations. WNS Analytics is a robust practice of 6,500+ Domain, Data, Analytics and AI experts with proprietary AI-led assets and innovative technologies. We enable businesses to make transformative decisions backed by data-led intelligence, ensuring differentiated outcomes. WNS Analytics is an end-to-end Consulting-to-Implementation partner delivering business goals for clients with an integrated ecosystem of co-creation labs, strategic partnerships and outcomes-based engagement models.
To know more, visit https://www.wns.com/capabilities/analytics