Media Mix Optimizer bridges the gap between doing analytics, and using analytics.
Seattle, WA (PRWEB) March 01, 2016
Convergytics, a leading international marketing analytics company that empowers organizations to get the bigger picture of their business through big data, announced today the official launch of its proprietary one-stop market mix model (MMX) analytics solution “Media Mix Optimizer”.
Convergytics’ comprehensive and multi-faceted Media Mix Optimizer, which has been in development for several years, is an intelligent cloud-based solution that gives marketers consolidated real-time insights into how all of their media vehicles and investments are performing, so they can forecast and continually optimize their media mix, and ultimately achieve peak media and marketing ROI.
The solution is built around a groundbreaking Bayesian-layered marketing mix model core, which maps ultra-realistic market scenarios in order to estimate the impact of various marketing events on sales across all channels, brands and geographic regions. The model also factors in competitor activities, and allows marketers to launch hypothetical “what if” scenarios to evaluate alternative marketing plans, and refine marketing budgets, allocations and distributions.
Unlike other solutions, Media Mix Optimizer delivers several groundbreaking advantages, including: a transparent view of all business activities, high accuracy of data transformations, both short and long-term model predictability, and built-in brand equity modeling, scenario planning, simulations, automation and optimization.
Once marketers identify an optimized marketing plan, Media Mix Optimizer shifts into tracking mode to monitor a suite of core KPIs, including sales volumes, target as planned, planned vs. actual spends, competitor spends, brand equity measures, links between customer metrics, and marketing investments. These insights can be applied to validate marketing plans, or execute mid-term course adjustments or corrections.
Marketers and other stakeholders (e.g. managers, c-suite) can also generate a variety of reports that derive from market research surveys and operational data sources, such as Activity Reports to capture all marketing activities and investments to date, Brand Health Reports to assess brand performance against a variety of metrics, and more. All reports can be generated in various formats per user requirements, and Media Mix Optimizer’s integrated data storage warehouse is easily accessible via an intuitive, user-friendly web interface.
“Today’s marketers need advanced tools to plan for multiple scenarios, capture the long term impact of investments, account for diminishing returns along with non-linear lead and lag factors in their models, and ultimately transform raw information into actionable insights that drive faster, smarter, and more profitable decision-making,” commented Santosh Atre, Convergytics’ Co-Founder and VP. “With Media Mix Optimizer, marketers finally have a robust, yet easy-to-use and intuitive solution that empowers them with the answers they need, while they identify and quantify all relevant factors and data sets that drive sales, including voice of the customer, distribution, social sensing and marketing spends.”
Several companies around the world are already using Media Mix Optimizer to generate the shortest path to ROI, including a global retailer that is leveraging it to evaluate how their marketing activities combine to influence awareness, create mindshare, and ultimately impact market share. To date, the retailer has deployed Media Mix Optimizer in 15 markets, and has already generated an 8 percent increase in sales with no incremental increase in marketing spends.
Other Convergytics customers are benefiting from Media Mix Optimizer Lite, which is a solution variant that benefits smaller Tier 2 companies and provides them with key answers on media ROI and recommending optimal spends.
Added Mr. Atre: “Measuring and optimizing marketing investments should never be one-size-fits-all, or an indecipherable black box. That is why Media Mix Optimizer has been designed to deliver full transparency, so that our clients can create the optimal marketing plan, while they access powerful and unprecedented insights into their business. Simply put, Media Mix Optimizer bridges the gap between doing analytics, and using analytics.”
More information on Media Mix Optimizer, including an ebook on Market Mix Model best practices, is available from http://www.convergytics.net/media-mix-optimizer.
For all other information visit https://www.convergytics.net.
Convergytics’ vision is to enable and empower organizations to get the bigger picture of their businesses through big data -- and in the process, transform analytics from a cost-center to a profit-center by offering high-impact analytics that deliver value. Our mission is to help organizations adapt to the constantly changing market landscape by going beyond traditional analytics to make actionable data-driven decisions and achieve decision-driven ROI.