3 Key Factors Missing from Your Marketing Mix Model

Juggling the ever-evolving landscape of tactics, channels, and consumer preference is tough enough when building your marketing plan, nevermind having to pull, normalize, and format the historical data traditional analysis depends on.

Here are three actions you can take to make more informed decisions while demonstrating results—whether you’re facing typical market shifts or you’ve-got-to-be-kidding circumstances.

Eliminate your dependence on historical analysis?

You need to be able to predict successful outcomes without having to wait around for stale data, hoping the market doesn’t change too much before you can apply what you’ve learned. With our proprietary algorithm leveraging Bayesian technique, you can leverage both sales data and current market variables to help deliver recommendations.

Optimize your marketing investment timing

By estimating the contribution of each dollar spent into the future, you can account for long term effects, impact from spending in other marketing tactics, and external factors. This enables you to build response curves by week into the future so you know the exact optimal spend in any given week.

Quickly respond to change?

It’s critical to quickly account for how marketing decisions contribute to, or distract from, your targeted financial outcomes—whether weekly, monthly, or quarterly. With a continuous decision loop, you can proactively make adjustments based on the latest information.??

You can’t afford to wait

Responding to the unexpected is not enough—you need to be able to actively plan for it, too. Keen is not just evolving the marketing mix modeling process—it’s arming brand leaders with the capabilities and agility to address the complexities created by a dynamic world.

Check out this case study to see how one brand re-allocated investments to prop up their back-half sales amid COVID-19 store shutdowns using Keen’s MIDA platform.?

Learn more at KeenDS.com or connect with us: [email protected].