Turn Up Your Media Investments By Leveraging Applied AI
By combining techniques and analyses such as multi-touch attribution, media mix modeling, and lead scoring, RXA can provide you an all-in-one solution for measuring and optimizing your media.
RXA’s Media Optimization is unlike any solution on the market. Analyzing all aspects of media spend, placement, channels, and more it allows you to understand the return you are receiving from every dollar spent. RXA’s Media Optimization powers up your scenario planning and forecasting based on sales achieved from your media efforts.
RXA’s applied AI-based Media Optimization automatically analyzes data, predicts performance and next best action, and provides the scale of econometric media models with ultimate accuracy. This allows you to capture the greatest return on investment for all of your media buys while ensuring you are reaching your target audience.
The most comprehensive media optimization solution in the market combining multi-touch attribution, media mix modeling, next best action, and website analytics.
RXA offers 24/7 technical support and automated alerts to ensure your data needs are covered.
We monitor and customize our algorithms to adapt to the ever-changing media landscape.
The best and most flexible data visualization capabilities available. RXA easily builds your current tracking metrics into the Media Optimization program so you have one place to reference all of your KPIs.
Optimized media mix for same media budget yields 28% average increased leads per dealer per month
Optimized media mix for upper quartile media budgets yields 50%+ average increased leads per dealer per month
CHALLENGE
Largest volume automotive brand sells through thousands of independently-owned dealerships. Harness, analyze, optimize and align allocation of media mix of both co-op and independent channel partner budget for maximum ROI benefit of all at same media spend.
SOLUTION
RXA's GMI Platform leverages OEM sales data, dealership CRM data, offline and online campaign data to develop unique multi-level approach to attribution. This resulted in greater ROI on recommended media mix spend across each of 3000 dealers. Dashboards for dealership media manager display optimal media mix vs. prior with anticipated results for growth in leads, sales, gross profit. Dealer can model his/her own supplemental media mix adjustments, with adjusted anticipated results.
Reverse Mortgage Funding was looking to improve marketing spend effectiveness. RXA’s Media Optimization team developed a Marketing Mix Model (MMM) to determine the impact of media spend on revenue and the interdependencies of media channels.
90% increase in performance of incremental media spend
Identified additional channel clusters with lower cost and bigger impact
Kortx is a Multi-channel advertising agency focused on a data-driven customized and a personnel-forward approach.
Kortx and RXA devised a plan to implement a custom Multi-touch attribution marketing effectiveness measurement technique that took all of the touchpoints on the consumer journey into consideration and assigned fractional credit to each so that Kortx customers could see how much influence each channel has on a sale. RXA’s custom solution offered a more sophisticated alternative to traditional, rules-based attribution approaches, such as advancements on the first-and last-touch philosophy, which gives all the credit to the first or last marketing touchpoint before the consumer converts through a purchase, download, or any other event.
RXA’s custom solutions has been integrated into Kortx’s day to day business and sales process creating differentiators and custom outputsfor each of Kortx’s customers resulting in higher customer satisfaction and over double-digit percent business development growth.
RXA conducted an analysis of marketing spend to determine actual return on investment by individual digital marketing channels from over 300 dealerships with over $70M in annual media spend. Utilizing a Multi-touch Attribution approach on 3.5M consumer touchpoints, the output demonstrated true incremental impact on sales and service orders, by channel, from media spending. One dealership identified:
17% increase in profit
$0 added to media spend
28% of media spend reallocated
15% year over year growth compared to market growth of 3% year over year.
A pharmaceutical company was experiencing less-than-ideal market growth and wanted to revamp their marketing efforts. RXA’s Media Mix Modeling and Lead Scoring product was engaged to determine which marketing efforts led to successful pharmaceutical sales based on market (i.e. country).
Identifying incremental impact of media spends enables you to do more with every dollar spent. RXA’s applied AI models understand the interdependencies of media channels and which channels drive results best at what times within each and multiple campaigns while providing the data you need to quickly support shifts in strategy and budget allocations.
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The RXA platform determines the optimal media spend levels as well as media mix for all campaigns. RXA utilizes both MARS and feedforward artificial neutral network (ANN) models to predict the best media mix.
From qualified leads to purchases, RXA will measure and optimize your full funnel to increase conversion rates and focus sales efforts. RXA will assign a value (or score) to a lead (or sales opportunity) to determine the likelihood of a successful conversion and the estimated value associated with the expected transaction. The concept incorporates behaviors of the lead prior to directly contacting the selling company, including brand engagement and website views.
Estimated transaction value and lead characteristics, such as geography, budget, timeline, and overall need are also considered. The higher the lead score, the higher chance the lead will make a significant purchase in the short term, the higher the priority of the contact management tasks associated with the lead.
