Project overview
Initial Position
frankly wanted an overview of how all its marketing campaigns were doing on SEA, programmatic and social media channels. In particular, it wanted to look at budget allocation and harnessing existing potential with a view to potentially reassigning resources.
- Sector:Private pension
Goals
- Measurement of campaign effectiveness
- Cost efficiency assessment
- Concise, clearly structured dashboard for all channels and objectives
Webrepublic’s new attribution model helps us keep on improving frankly’s digital channels and to make better data-driven decisions.Christian Ohlsen
Head of App Marketing, frankly
Measures
Based on the available data relating to frankly’s digital marketing activities, Webrepublic used two statistical models to provide an overview of campaign performance on all channels. The SARIMAX model shows cost efficiency, while the BSTS model shows campaign effectiveness based on simulated conversions. Standardizing the results of both independent models and presenting them in a scatter diagram makes it possible to determine the sweet spot for cost efficiency and campaign effectiveness. This shows that the campaign budget is being used to optimal effect.
The combined model draws not only upon data relating to the channels, but also the marketing objectives. For instance, it shows which channel achieves the most conversions with the most efficient use of budget during the download phase.
EXAMPLE:
Cost efficiency and campaign effectiveness at channel level
Across all channels, the targeted cost efficiency is between 85 and 100%. Search advertising falls slightly behind in campaign effectiveness, although this channel generated the most leads during the campaign.
Fig. 1: Campaign effectiveness vs. cost efficiency for each channel
Cost efficiency and campaign effectiveness for each phase
The model for SEA per phase underwent additional analysis to determine why SEA was less effective than other channels. This shows that only the last phase of the campaign is falling off in terms of campaign effectiveness. As a result, part of the planned SEA budget could be reallocated to channels that generate conversions more effectively.
Fig. 2: Campaign effectiveness vs. cost efficiency for the SEA channel for each phase
Important: The results of the models are a quantitative representation of the real situation. They serve to support a holistic overview of individual campaigns and allow different campaigns to be compared in terms of performance.
Results
- The analysis enables recognition of the true effectiveness of digital marketing channels and budget efficiency across different marketing objectives
- It forms a basis for reallocating budget and resources and allows for relative comparisons of overall campaign performance
By combining both models and the overview dashboard, we can display complex data in an easily understandable way and keep on optimizing our customers’ campaigns.Webrepublic AG
