Combining quantity and quality with Vattenfall
AMSTERDAM / LONDON, 12 March 2021 – Rob van den Berg started his role as Senior Online Marketeer at Vattenfall a decade ago but still remembers the time when gut feeling was an essential part of deciding where to spend marketing budgets. Together with his team of 10+ Marketing Specialists, van den Berg is part of the Digital Sales branch of the company which — among other things, is responsible for driving high-quality traffic to the Vattenfall website. This is where their partnership with Objective Platform comes in particularly handy: “At Vattenfall, we want to know how to acquire the right customers so that we don’t just fill our pipeline, while also positively impact business KPIs such as customer lifetime value and retention”.
“At Vattenfall, we want to know how to acquire the right customers so that we don’t just fill our pipeline, while also positively impact business KPIs such as customer lifetime value and retention”.
Around eight years ago, the question at hand for Marketeers at Vattenfall was: “How can we generate high-quality leads and be more data-driven in our budget allocation approach?”. In their quest to find the right tooling, they knew that they wanted to make their data insightful and easy to digest. The initial platform that they had been using definitely contained relevant data, but completely lacked the visualisation around it. This made it challenging to digest the insights and come up with actions to optimize their marketing strategy. For Rob, this is where Objective Platform proved to be particularly useful. “When we first started working with Objective Platform’s model eight years ago, we focused on Search (e.g. Google and Bing). From there, we ran multiple proof of concept tests to learn if and how Objective Platform’s insights could help us to optimise our business results. As a result of these tests, we were able to prove with 96% significance that the model of Objective Platform outperformed other approaches that we tried. The ROIs of investments increased, as well as our average sales values”.
A unique take on marketing insights
Of course, any organization can commit time and resources to building an in-house attribution tool as well. In doing so, you’ll likely leverage the skills of knowledgeable Data Scientists and Marketeers. However, with Objective Platform, van den Berg feels that there is a unique aspect to the perspective they bring. “The fact that Objective Platform considers data from an econometric perspective is pretty unique. This also strengthens the idea that the insights that we get from Objective Platform’s software is completely independent and — as the name suggests, objective. This helps to trust that the data is reliable and trustworthy.”
Of course, Vattenfall has considered alternative solutions over time. But when putting other models to the test, the quality of Objective Platform and its insights consistently proved to be the most valuable to them.
“The reason why the partnership between Vattenfall and Objective Platform works so well is the fact that they are able to customize the model to our specific needs, and that they are a true partner in the sense that they are available to consult with their clients. To do so, they apply a personal approach in which we have weekly calls to go through the data together. Overall, our lines of communication are short and I guess this is also because we’re both based in Amsterdam. Therefore, we’re able to act on insights swiftly and even support in product development. Objective Platform is open to the needs that we have and listens to our feedback to understand how we can optimize the product together.”
Rob considers himself lucky in the sense that Vattenfall has been keen to adopt a data-driven strategy from the start. Therefore, getting the internal buy-in to use Objective Platform’s product has not proven to be an issue. At a company level, they regularly review and challenge business results, but over time they have seen that their Marketing tech stack has only grown stronger over time with Objective platform being a key contributor to this. “We will soon start to also integrate our Brand KPIs into the model as well”. In addition to having the internal buy-in, partners such as media agencies are also accustomed to the fact that Vattenfall relies on the model of Objective Platform. Aside from the fact that they are able to benefit from the data and make sure the foundation of future campaigns is optimised based on its insights, there’s also a benefit in the fact that Vattenfall is able to move their data with them should partnerships change. In this way, they can continue to use their historical data and ensure they can continuously use it to optimise their results.
“I’m confident that working with Objective Platform gives us a competitive advantage in the sense that we are able to drive our strategy based on both numbers and value. Other players in the industry might invest based on numbers only, but they will be less profitable in the long-run as they may have to deal with lower customer retention. The fact that Objective Platform is helping us in acquiring high quality customers ensures that we have adopted a faster and smarter approach. We’ve also seen this to be true for our online channels particularly.”