Manager

E-commerce

For many e-commerce companies, there is one very important factor that drives both costs and revenue: marketing. But where should you spend your marketing euros as a company? Google Ads? Facebook? Or a TV campaign? How do you find out how much effect each euro has really had in the complex landscape of mixed marketing campaigns? And at what point is it actually no longer useful to invest in a particular channel?

Motivation

The effect of E-commerce campaigns can be difficult to measure.

Many marketing managers can measure the direct effect of individual campaigns, such as conversions from a Google Ads campaign. The indirect effect of a TV commercial on sales is somewhat more difficult to measure. But how can you reliably measure the effect of numerous campaigns together? The different campaigns also influence each other. That is precisely why it is essential to know that the TV commercial has not contributed enough, so that the budget can go to an extra Facebook campaign next time!

Results

More efficient use of media ensures higher return on media investments (ROMI).

Approach

All direct and indirect influences are analyzed with Bayesian models.

We put a unique

Bayesian model

Bayesiaans model that can take into account all the different influences that come with marketing. First of all, the influence of different campaigns on each other is analyzed. But the model also corrects for any delayed effects of campaigns on the performance indicators and the ceiling with regard to the effect of campaigns. These are elements that are very difficult to analyze with other techniques.

Solution

The marketing manager effortlessly sets the budgets across different channels for next year, or finds out which marketing campaign has the most impact to achieve the target for next week.

Roadmap

What could be the next steps to Factual Decision Making?

Campaign optimization

By taking a deeper look after the optimization across channels, specific campaigns can also be optimized. This allows the E-commerce marketing manager to analyze which brands or products have the most effect on its performance indicators.

  • Optimal effectiveness per campaign

  • Budget allocation across different channels, per campaign

Research online purchase offline

Customers do not always purchase online. The online channel is also used for research, after which customers complete their purchase offline. By identifying these purchases, the effect of online marketing on offline sales can be analyzed.

  • Full insight into media effectiveness

  • Improved insight into customer journey

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We are convinced that by 2030 all relevant tactical decisions in our markets are made using robotic or fully automated tools. Of course Veneficus is the partner to ensure that you are ahead and do not miss the boat. Wondering where your opportunities lie? Request a free tactical attack plan.