Industry:
Advertising
Service Provided:
Machine Learning - Marketing
Problem Statement:
Due to evolving user privacy policies, the ability to measure true attribution of marketing ad spend is becoming a growing challenge for most advertisers. Specifically there is a lot of unknowns when it comes to specific marketing channels such as Tiktok and Meta. To this end both these companies turned to Data Strategy offering our services to their advertisers to assist them in quantifying the true ROI for each of these channels respectively.
As a solution we conducted Geo-Experiments for their respective clients end-to-end. The controlled experiments consist of 3 main phases, a pre-analysis where the format of the experiment is designed; the launch and monitoring of the experiment itself; and the analysis of the results. Both the design and the analysis rely on advanced statistical and optimization techniques.
Business Impact:
The conclusions of the experiments often resulted in huge eye-openers for the relevant CMO and marketing teams of each company the test was conducted for. At times the results concluded that the true ROI was 3x what was being reported by Google. This resulted in a major redistribution of marketing budget maximizing their ROI. At other times it showed that the company was actually losing money through the channel in question which likewise resulted in a major cost saving. We have also conducted analysis to quantify which channels are cannibalizing the missing sales - which was of great importance in helping to decide on optimal budget allocation.
Decision-Making Enhancements:
The ML component is part of the core tech being displayed to potential advertisers and investors.