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Drive Marketing Success with Prescriptive Analytics

 
Data Driven Marketing Solutions

DecisionMinesTM: A Data-driven Solution for Predictive Marketing Services

Data collected from consumer engagements and interactions is the new oil that fuels the strategy of a CMO’s office. The adoption of data-driven marketing is enabling organizations to deliver personalized marketing, efficient media buying, increased customer retention, enhanced customer experience, and much more. Organizations with a mission to bolster relationships with their customers cannot just rely on marketing ‘scoreboards’ and past data to understand and optimize their customer journey. The proliferation of new marketing channels in this data-driven economy provides for newer opportunities to innovate and predict customer behavior. DecisionMinesTM for Marketing helps organizations craft an effective marketing strategy that keeps data at the center, propelling marketing initiatives and powering their growth engines.

Customer Engagement

Customer Engagement

Ineffective promotions lead to low customer retention

Campaign Expenditure

Campaign Expenditure

Inept media planning affects spend and channel allocation

Campaign Profitability

Campaign Profitability

Aligning pricing analytics and profit margins is a challenge

Pain Point
 
Solutions
 
KPI
 

Prescriptive Marketing Solutions

Tony James Sales Manager
Tony James
| Sales Manager
Wants to increase digital and physical revenue.
   Revenue Growth | Profitability Improvement
Q
Which customer segments should I target for maximum profitability?

Segmentation Model

Actionable insights to target customers with specific needs, as every segment contributes differently to the profitability of a business.

Consumer behavior—their needs, preferences, budgets—has a big impact on marketing strategy, which is required to nurture relationships with prospects and existing customers. Effective segmentation helps marketers to make various decisions such as:

  • Customer acquisition
  • Upsell/cross-sell
  • Customer retention
  • Campaign selection

The DecisionMinesTM segmentation model helps bridge the gap between a buyer’s expectations and a seller’s value proposition by approximating product positioning and buyer preferences. Segmentation or targeting depends on various factors such as demographics, buying power, product and service needs, price, and observable actions obtained through various channels.

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Q
How are our promotions affecting sales? What's the best way to promote my products?

Campaign Optimization

Insightful pointers to measure and optimize the effectiveness of the campaign and increase the customer lifetime value.

Campaigns can be of many types based on the desired outcome—to create awareness or to foster better engagement, and so on. An efficiently planned campaign will have a goal and a target audience. Once a marketing campaign is under way, there are several parameters you need to look at while measuring its effectiveness, such as ROI and user engagement.

By incorporating advanced analytics techniques into the campaign processes, marketers can understand and reach customers to an unprecedented degree, resulting in more effective campaigns and a significant rise in ROI.

It’s not about the sale, it’s about the solution.

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Q
Which product should I stock up according to demand and at what price point?

Product Price Optimization and Demand Sensing

Actionable insights to gain greater control over pricing decisions across service categories and product types.

Marketers usually rely on techniques such as demand modelling and ‘what-if’ scenarios to understand the impact of proposed decisions on sales and margin performance.

An efficient product price optimization and demand sensing solution helps marketers understand customer behavior based on past trends and prescribes the optimal discounts or offers that would elevate product demand while ensuring maximum profits.

With DecisionMinesTM, companies can ensure the best possible revenue from inventories with in-time clearance by leveraging organizational data and putting prescriptive data analytics to use.

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Q
How can I allocate my channel-wise ad spend more effectively?
Sheena Williams Marketing Media Manager
Sheena Williams
| Marketing Media Manager
Wants to improve traffic generation and media buying.
    Average Cost of Acquisition | Conversion/Budget Ratio Across Paid Channels

Media Spend Allocation

Insightful pointers to optimize media budget and spend by media type for an enhanced ROI.

With the media landscape becoming more fragmented and diversified, understanding customers’ interactions across different media channels has become necessary to effectively distribute the marketing budget.

Optimal media allocation would involve reallocation of funds from press, digital display, and out-of-home into TV, digital video, and radio. Evaluation of media effectiveness helps prioritize advertisements and promotions spend in favor of channels that provide a better ROI.

Media spend allocation powered by DecisionMinesTM helps optimize media budget, and spend by media type with a focus on maximizing the ROI.

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Q
Which channels respond better to various types of campaign goals?

Media Mix Optimization

Actionable insights to target the right marketing channel for the right campaign goals, at the right time.

Every campaign has an objective, and it helps determine the right channels to target. By capturing the responses to promotional messages across channels, you gain data for predicting future responses. You can fine-tune it by tracking the channels and message types that drive the desired response.

With predictive analytics, it is easier to craft the right message for the right audience, and then deliver it through the optimum channel. Using historical data relating to sales and advertising expenditures and information about the brand and its consumers, DecisionMinesTM recommends the right channels to target for achieving optimal media budget, spend by media type and various other campaign goals with a focus on maximizing the ROI.

Connect with us to know more about our capabilities.

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