Situation / Challenge
Our client was spending ~$1B on Marketing initiatives without clear understanding of, or accountability for, marketing performance. While ROMI modeling was not viable due to lack of quality data, the client desired to start to build a more ‘accountable’ culture by increasing visibility of current spend and deploying tools to measure ROI at the marketing activity level.
Approach
Identified initial opportunity areas and hypotheses by comparing current Marketing investments with industry benchmarks and by identifying differences between brands and markets. Identified 6 key investment areas and created tools and processes to gauge success and enable market response simulation. Established integrated Marketing planning guidelines and measurement needs.
Results
A 15% opportunity for marketing spend optimization was identified, including agency fees, media buying, and production. Templates were embedded in the Marketing planning process to define ROI objectives and program prioritization.