Revenue increased by 1.9% for Home Repair and 2.3% for Home Improvement in six months for a leading home appliances and repair services provider by implementing recommendations from the Media Mix Model.
The Problem
Media mix spend effectiveness (revenue generated per dollar of spend) had declined by 5% for two consecutive years.
The Before State
Media budget allocation was done on an aggregated, unoptimized basis and thus the cost per acquisition was much higher as compared to industry benchmarks.
The LatentView Solution
Created multi-variate linear models for paid channels and attribution models for non-paid channels which were further optimized at a product and channel level.
The After State
By implementing the recommendations from the Media Mix Model (MMM), revenue increased by 1.9% for Home Repair and 2.3% for Home Improvement in a six-month period.
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