How predicting your marketing performance looks like in 3 simple steps!
Predictive marketing is the future in marketing analytics. 91% of marketers have already turn their attention to marketing forecast tools.
Objective Platform designed one of the most sophisticated marketing forecast tools. With Media Scenario Planner(Beta), you can predict the performance of your campaigns before you run them. Not only this, but you can use the outcomes to identify drivers and outliers of your performance and tweak the different factors until you have the perfect media plan.
To help you understand how it actually looks like predicting your marketing performance, we used Media Scenario Planner to create a 'what if' media plan, predict its performance, and optimise it according to the outcomes.
Media plans are the epicenter of a brand's marketing activities. In 2022, marketers opt for data-driven marketing practices. But, no matter how much data you have available, you can only take a glimpse at your plan's performance once you've run it. Right? WRONG!
In a world without forecast tools, you have to draw the learnings coming form your past marketing activities and design your media plan for a specific period. Based on the data, you select the main objective of the plan and start adding campaigns for different media channels. After you design the plan, you execute it and hope for the best. In this process brands often include many stakeholders and different teams. Consequently, the final decision is up to many factors. Once the plan is successfully executed, you gather the performance insights and incorporate them to the next media plans. But what if you could skip this process and access these insights before your run the plan? Then, you could implement the changes to the current plan and make it even more effective. See below, how you could do that with Media Scenario Planner.
To forecast your media plan's performance, your need to insert all variables. That means you have to design the media plan as usual within the platform's intuitive environment. You begin with a plan for a specific period, and you add your campaigns. For every campaign, you choose the timeline, the type of the campaign (performance, branding, and always-on), and the product type, if applicable. Then, you select the channel mix for each of your campaigns and the specific budget per channel. Now, our sophisticated attribution models use all your data sources and market trends to generate the first forecast of the plan's performance. See below what does that look in practice.
But your predictions do not stop here. You can make your forecast even more accurate by incorporating other factors that impact your marketing performance. In reality, marketing performance goes beyond your microcosmos and is influenced by external factors, like events and market trends. Also, the exact same media plan performs differently from brand to brand, as a brand's busyness dynamics weigh in the final result. Such dynamics include the price distance, or the competitor spend. Thankfully, Media Scenario Planner accounts for these factors and generates the most realistic predictions for your brand.
Predictive marketing is not about insights only. It allows brands to optimise their efforts and increase their marketing impact. With Media Scenario Planner, you can create multiple versions of your plan to anticipate campaign and budget shifts. The media plans you design are actionable and do not display stiff predictions. You can always tweak the details and use the platform's budget recommendations until you reach your ideal media plan. Finally, you select the most successful media plan and execute it. The platform allows you to track its actual performance, which informs future predictions.
Implementing predictive marketing helps you have a business forecast available for your media plan, easily deal with budget and campaign changes, and access insightful budget recommendations.
Interested in Media Scenario Planner and what it can do for your brand?