Measure how much each of your marketing activities – media, social, promotions, price changes etc. – drives sales and optimise your activities accordingly.
Make a detailed collection of your sales data,
Bring together data from all activities you want to measure
Build models describing the known and conjectured mechanisms and effects of each driver on sales. The model performing best against the data is chosen. This returns the impact of each driver and the contribution of each activity to sales.
Possible mechanisms include multi-step decision processes as well as saturation effects or synergies between activities or channels.
Based on the measured impacts, the activity plan is optimised. In order to optimise profitatbility / ROI, cost data can be included.
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