Challenge
A large financial institution had taken a strategic business decision to increase its market share. Marketing was one of the levers for doing so, hence increased media budgets.
The increased budgets had, however, not had the desired outcome - the number of new accounts opened had increased, but the media budget and customer acquisition cost CPA (Cost Per Action) had also skyrocketed to a point where the growth strategy did not make sense anymore.
Approach
Kantar’s Unified MMO was initially used to eliminate the major “waste” of money, such as reducing overspending in general and eliminating spend in low-efficiency media channels.
The next step was to optimise the “core” media investment areas regarding publisher allocation and timing.
Insight
The generated insights provided a direction to bring the growth strategy back on track by lowering the Cost Per Action (CPA).
The model’s insights also showed how to deliver high growth while further reducing the entire media budget by highlighting the huge optimisation potential in the media mix.
Impact
Since the solution was implemented two years ago, the impact has been a staggering 42% increase in accounts opened while the media spend has been reduced by 70%.
Additionally, using the model to optimise the “core” media investment areas regarding publisher allocation and timing, the CPA has been reduced significantly to a level similar to what it was before the increase in media budgets but with media driven sales four times higher.