A leading consumer packaged goods company found it challenging to track and measure the effectiveness of marketing campaigns across brands and channels.
Multiple data sources and the need for a unified view meant that the client could not optimally allocate its resources and budget.
WNS Triange – our data, analytics and AI practice – deployed an artificial intelligence-led marketing mix modeling solution to help the client increase revenues and profitability.
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.
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.
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.
WNS Triange, our data, analytics and AI practice, deployed a marketing mix modeling solution to help the CPG company measure the true impact of marketing campaigns across brands, sales channels and marketing levers.
Leveraging Triange Center of Excellence (CoE), a core pillar of WNS Triange, we harnessed the combination of domain, data engineering, advanced analytics, talent and best practices to deliver a tailored and scalable solution. Key aspects of the solution included:
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
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
WNS Triange powers business growth and innovation for 200+ global companies with Artificial Intelligence (AI), Analytics, Data and Research. Driven by a specialized team of over 6000 analysts, data scientists and domain experts, WNS Triange helps translate data into actionable insights for impactful decision-making. Built on the pillars of consulting (Triange Consult), future-ready platforms (Triange Nxt), and domain and technology (Triange CoE), WNS Triange seamlessly blends strategy, industry-specific nuances, AI and Machine Learning (ML) operations, and intelligent cloud platforms.
Driving a futuristic edge are WNS Triange’s modular cloud-based platforms and solutions leveraging advanced AI and ML to provide end-to-end integration and processing of data to actionable insights. WNS Triange leverages the combined strength of WNS’ domain expertise, co-creation labs, strategic partnerships and outcome-based engagement models.
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18 October 2022
04 July 2022
Retail & CPG
01 March 2023