Marketing Mix Optimization

Client Challenge:

Understanding the impact of marketing activities on business results and justifying marketing and media investment and allocation as they relate to business goals.

What we do:

  • Conduct a detailed customer intelligence and experiential knowledge discovery session to gain stakeholder alignment on key challenges and opportunities.
  • Map the marketing ecosystem to identify the leading marketing (media, sales channels, promotion, sponsored events, etc.) and non-marketing drivers (pricing, inventory, product etc.) of the business.
  • Implement our innovative CIEK Marketing Mix Analytics process which combines machine learning with traditional mix model approaches for better, precise correct decision making in uncertain marketing environments.
  • Develop scenarios and forecasts for optimal allocation of your marketing dollars to maximize return on investment (ROI).

Value you receive:

  • A fact-based understanding of contribution of marketing activities to your business.
  • Optimal allocation of current marketing and communication spend for higher ROI.
  • Validation of new marketing channels with the confidence of knowing their impact on your business.
  • Forecasts and multiple scenarios to predict the impact of marketing decisions on business results.

Big Data Analysis

Client Challenge:

Gleaning insights from unstructured data from online sources along with behavioral data to improve consumer experience and brand loyalty.

What we do:

  • Expertise in developing ETL processes to ingest, store and analyze data from disparate offline and online sources.
  • Data Engineers with experience in Spark or Hadoop Map reduce data processing systems in implementing large scale big data projects.
  • Insight generation using Python, R, Scala and Json programming languages.

Value you receive:

  • Offering enterprise wide insights. This includes those already stored in company databases, from external third-party sources, the Internet, social media and remote sensors.
  • Monitoring key performance indicators and forecasting of business performance.
  • Identifying and mitigating risk events to improve profitability.
  • Boosting productivity and unlocking significant value by making information transparent across different departments.

Path to Purchase Analysis

Client Challenge:

Understanding the path to purchase and contribution of marketing channels to brand performance and sales.

What we do:

  • Analyze the brand tracker, customer surveys, competitive, client marketing and non-marketing related data to identify the key characteristics that impact brand performance.
  • Quantify interactive marketing effects across channels to understand how marketing communications work together to impact consumer perceptions.
  • Develop brand and channel benchmarks for setting brand and channel performance standards.
  • Develop a detailed test and measurement plan to optimize brand performance, including ongoing brand performance monitoring and reporting.

Value you receive:

  • Understand the optimized contribution of your marketing channels in impacting brand performance.
  • Interactive contributions of brand performance indicators to impact overall brand purchase intent.
  • Financial impact of change in brand performance indicators.
  • Change in marketing strategy and its potential impact on brand equity.

Customer Lifetime Value Analysis

Client Challenge:

Identifying long term customer value to get the highest return on their marketing investments.

What we do:

  • Conduct detailed analysis of your current customer repository (BI data, customer/user surveys, brand tracker etc.) and help you develop a clear idea of customers and products that create the most value for your company.
  • Create robust personas for developing highly relevant personal engagement programs.
  • Develop opportunity scenarios to project the potential revenue from deeper, more sustained engagement with your current customer base and mid & high-value potential customers.
  • Identify churn patterns and help you retain customers who are likely to switch loyalty.
  • Identify new initiatives to drive acquisition, retention, up-sell and cross-sell activities that will deliver repeatable success and dramatic growth.

Value you receive:

  • Deep understanding of your “high-value look-alikes” and high-potential customers and the marketing activities and channels that will deepen their engagement with your brand.
  • Analytic framework for implementation of cost-effective customer acquisition, retention and loyalty programs.
  • Decision support to implement customer relationship management strategies offline and digitally that will help your business achieve aggressive growth.

New Market/New Product Analysis

Client Challenge:

Expanding into new markets or developing new products without available user experience data.

What we do:

  • Develop predictive models to identify new markets and new customers with syndicated market data and build scenarios for prioritizing product/market opportunities against investment.
  • Define products/markets with the highest likelihood to succeed based on current marketing actions, location characteristics and competitive intensity.
  • Assist and consult with your current brand and marketing teams to develop go-to-market action plans for entering new territories.

Value you receive:

  • Data driven decision support system for new product/market selection.
  • Quantification of market/product opportunity, size and growth potential against investment.

Voice of Customer Analysis

Client Challenge:

Analyzing key drivers of their business using both structured and unstructured data across different touch points.

What we do:

  • Analyze your customer surveys, research, social media, website reviews and data for both structured and unstructured analysis.
  • Using machine learning and NLP, we will perform key concepts/themes, categorization and sentiment extraction.
  • Key driver analysis, sentiment extraction, topic modeling, segmentation etc.

Value you receive:

  • Understanding of the key drivers of the key performance indicators for your business.
  • Improvement in products, user experience by analyzing their feedback online.
  • Identifying key drivers of churn, product switching and advocacy.
  • Offer, message development for CRM, social media or digital marketing programs to improve customer engagement and user experience.

Integrated Campaign Analysis

Client Challenge:

Setting campaign benchmarks and understanding the “bigger picture” to develop business strategy from multi-channel marketing campaigns.

What we do:

  • Analyze your current campaign reports and develop a process to stream line the reporting process.
  • Develop a global brand campaign benchmarks and individual campaign mapping reports which identify the goals, key performance indicators and media tactics for the campaigns.
  • Develop brand and channel benchmarks for setting baseline performance standards.
  • Develop detailed test and measurement plans to optimize brand performance, including ongoing brand performance monitoring and reporting.

Value you receive:

  • Multi-channel benchmarking and reporting provides strategic insights for business decision making.
  • Clients can refine their segmentation and personalization strategies based on consumer behavior to campaigns, and then automate trigger-based marketing campaigns.
  • Integrated channel reporting creates the framework for cross-channel attribution which can be utilized for media planning purposes.
  • Ongoing tracking and monitoring acts as an early warning system to course-correct during the campaign improving response time to consumer behavior.

Dashboard & visualization solutions

Client Challenge:

Keeping track of their key brand and sales performance metrics on an ongoing basis.

What we do:

  • Through rigorous data audit and knowledge discovery process, we document all of the KPIs that are currently being captured or are relevant but not currently reported.
  • Identify the relevant data sources along with the cadence of reporting and current delivery process.
  • Based on the requirements, we choose the right dashboarding solution which will be able to connect and extract information from all of the disparate data sources.
  • After the development of the dashboard, we provided access to stakeholders to test and provide feedback on the dashboard performance.
  • We provide user training to the key sponsors of the project and even provide on-going support after global deployment of the dashboard.

Value you receive:

  • Instant visibility to the executive management on the trending performance of their key performance indicators.
  • Constant data flow creates accurate reflection of the current situation and clients don’t need to wait for their weekly or monthly report to see what’s going on.
  • Ability to drill at regional, product or promotion level as is the need of the client to do a root cause analysis.
  • Our solutions are customizable to different management levels displaying relevant information as per their needs.

Data Audit

Client Challenge:

Develop a framework to capture customer data to fuel engagement strategies and activations that will expand their brand’s relevance, build loyalty and improve advocacy.

What we do:

  • Conduct a thorough audit of your existing customer database and analytics support system and provide a detailed report on the effectiveness of your current marketing database system.
  • Perform a gap analysis of your current data management practices and provide guidance for improving database integrity, quality and data capture.
  • Provide guidance for improving your current technology practices and consult on vendor RFPs.
  • Audit and analyze various customer touch points to improve the current customer communication process and provide strategic recommendations on how to improve communication effectiveness and efficiency through the use of social and digital channels.

Value you receive:

  • A 360° view of your customer by unlocking the value from your current data assets.
  • Significant improvement in current data/analytics practices.
  • Improved customer experience management process for growing leads and nurturing customers.
  • Improved campaign response rates, acquisition rates and brand performance scores.

Technology/Product Innovation

Technology/ Product Innovation

Client Challenge:

We require a customized solution tailored specifically to solve our business need.

What we do:

  • Detailed consultation with the research sponsor and key stakeholders involved to understand the business need.
  • Leverage existing solutions in-house or an alliance partner technology to provide a quick solution.
  • Work collaboratively with client product team and our in-house CIEK lab team of data /technology engineers and alliance partners to develop the best, cost-effective solution.

Value you receive:

  • Organization and business specific solution rather than a generic solution.
  • Minimal involvement of your technical resources for product development.
  • Lower costs over the long term.
  • Highly consultative process, short development cycles and excellent technology training for deployment.

Consulting and Training workshops

Client Challenge:

How to apply the power of predictive and advanced analytics successfully to their most pressing marketing challenges.

What we do:

  • Provide consulting sessions like Analytics 101, Segmentation basics, Modeling-best practices etc.
  • We also provide customized training and material development on advanced analytics topics.
  • We conduct multi-day customer intelligence and experiential knowledge workshops to develop materials which help clients to identify the current state of their business and provide a data strategy to drive their key sales and brand performance metrics.

Value you receive:

  • Develop data sciences and predictive modeling capabilities to drive your business strategy.
  • Bridge the gaps between organizational needs and analytics solutions.
  • Training and case studies demonstrate predictive analytics in action and make the concepts concrete.

Managed PII/GDPR/SOC compliant Secure Data Warehousing Cloud Services

Managed PII/GDPR/SOC compliant Secure Data Warehousing Cloud Services

Client Challenge:

Waiting days or even weeks to analyze critical data for decision making is no longer acceptable. Most business teams want real-time insights that match the fast pace business and markets, and data scientists can become frustrated by the limitations placed on queries and an ability to load, transform and integrate both structured and semi-structured data. Also, there is heightened urgency to develop data warehousing and storage practices which are privacy compliant and highly secure.

What we do:

  • We have done large scale database implementations by integrating offline and online data using secure PII GDPR compliant data-warehousing solutions.
  • Our services enable quick and easy integration of current data sources into a new cloud-based data-warehouse using AWS, Azure or Snowflake environments
  • We practice highly stringent data security and privacy guidelines with end to end data encryption, rules for data sharing, and access control at organization, team, and user level based on credentials

Value you receive:

  • PII/GDPR compliance for first/third party database warehousing across multiple data sources
  • We reduce complexity with built-in performance, security and high availability so there’s no infrastructure to tweak, no knobs to turn and no tuning required.
  • Low Impact on client/agency IT teams for resources.
  • We aggressively work with the cloud provider to do regular client, maintain & improve security practice on an ongoing basis with regular external penetration testing.

Promotional/Price optimization Analytics

Promotional/Price optimization Analytics

Client Challenge:

Promotions are almost always part of a CPG/ retailer’s sales and marketing mix, and for good reason — they can drive sales and help you move inventory. But running promos isn’t as simple as slashing prices or putting up a “SALE” sign on your window. Many companies just use heuristic decision making based on last year’s promotional plan or mimic competitive pricing and promotions strategies. This can lead to very poor results and even cause serious brand and profit erosion.

What we do:

Using rigorous statistical approaches, we work with the clients to answer the following question

  • Which items should we promote?
  • What is the contribution and elasticity of expected sales discount to boost Sales?
  • What are the expected sales returns based on increase/decrease in promotional spend?
  • How does reduced pricing impact Margins?
  • How does reduced pricing impact Margins?

Value you receive:

  • Utilizing pricing analytics tools often allows companies to uncover “quick wins,” or extra revenue and margin that can be generated over a short period by fixing the most obvious cases of price misalignment or leakages.
  • Helps companies to correctly estimate the most feasible pricing strategies that would result in better returns.
  • Promotional Analytics solutions use data to identify the best prices and optimal ranges that will help maximize ROI and profit margins.
  • Backing the merchandising planning approach itself with “cold hard facts” and robust analysis of the data can significantly improve buy-in & approval from the various stakeholders.

Demand Forecasting Analytics

Demand Forecasting Analytics

Client Challenge:

The ability to quickly and accurately anticipate demand is essential for those who want to remain competitive in the CPG & retail industry, where even the slightest variation in production volume, distribution networks, or just the weather can have an immense impact on turnover. Increasingly, technology such as Artificial Intelligence (AI) is being adopted by the world’s major retailers & CPG companies to enable them to better aggregate and process huge data sets to predict trends or anomalies which will affect demand.

What we do:

Using rigorous AI based analytics approaches, we have worked with several clients to bring significant improvements in their forecasting capabilities. Here are the questions we address

  • Demand forecasting at various item hierarchies with around 75-92% accuracy across various client engagements.
  • Inclusion of key data sources like macro-economics and weather-related data.
  • Novel process to include and predict sales of new product items with zero to limited sales history.
  • Inclusion of human insights into the forecasting process using Bayesian methodologies to make the forecast more forward looking

Value you receive:

  • Improvement in supply chain efficiency - is a key reason to use demand forecasting. If you can forecast not only the amount of sales, you’ll have but also when they are likely to occur, you can better schedule your production, warehousing and shipping.
  • Improvement in Labor management - This helps you plan scheduled maintenance shutdowns away from busy sales periods and have adequate materials and labor on hand throughout the year.
  • Improvement in Inventory management - When you know about a coming spike in demand, you can contact your suppliers to make sure they have enough materials to keep your production lines running.
  • Ensure adequate cash flow - Knowing the peaks and valleys of demand helps you better manage your cash flow, ensuring you have enough money on hand to pay bills.
  • Accurate budgeting - The more accurately you can forecast demand, including the timing of your sales, the more accurate you can be with budgeting. If you have a flexible budget, such as tying marketing spending to sales, you can shift paid marketing efforts such as advertising and free marketing efforts such as a social media campaign between slow and busy periods.

TESTIMONIALS

“We were thrilled when Neeraj and his team could deliver complex marketing mix solutions for our fortune 100 client in less than 5 weeks from the project inception. That was beyond our expectations in terms of cost savings and the speed with which we accomplished our goal. The results were highly actionable and explanatory both in terms of technical expertise and business strategy”.

Andrea Orth

VP Group Account Director, The Food Group (former Account Director at VSA Partners)

“CIEK’s marketing mix solutions helped us understand and plan our PR and marketing activities to maximize ROI for our client.”

John Wengler

Vice President Marketing, InterProse

“I was impressed with Ciek’s desire and commitment to deliver a top quality data sciences solution and providing value and insight. Neeraj & his team were adaptable and willing to adjust, making me aware of any impact in delivery or timing. I was extremely impressed with Ciek’s ability to present advanced analytical concepts and package the findings which were easy to understand and implement.”

Jatinder Singh

Chief Marketing Sciences Officer, Omnicom Precision Marketing Group

“Neeraj and his team showed great expertise and analytical rigor in developing customer research, targeting, digital reporting and optimization for a major product campaign for our business segment”.

Scott Allee

Business Campaign Strategy, Intel

“From the moment we explained our requirements, Neeraj and Chris excelled themselves. Rather than simply utilizing a prepackaged database analytics and segmentation solution, they took the time and effort to learn about each of our client’s unique needs and then came up with a customized data and analytics strategy to meet our goals.”

John Goodman

President, Pareto Group

“CIEK helped us distill highly valuable marketing intelligence for our client, leveraging cutting edge data analytics to connect the dots between insights and marketing execution. We look forward to continued association with CIEK”.

Gil Ozir

Managing Partner, Beringer Capital

Private Equity Company

“CIEK’s segmentation development and implementation approach was highly consultative, predictive and resonated very well with our client’s expectations.”

Michael Jainik

SVP Analytics Scholastic (previously Engagement Manager, AMR International)

“I have worked with Neeraj on several agency client analytic projects. He brings energy, professionalism and expertise to his work and always strives to meet tight client deadlines.

Demian Brink

SVP Analytics, Martin Agency

Ready to maximize customer value and ROI of your marketing investments