Mitsubishi Motors used Further Insight data science services to measure and optimise the return on investment (ROI) of their marketing and media expenditure.
The problem
As one of the major players in the automotive sector in Australia, Mitsubishi Motors executes a significant and complex marketing program, targeting multiple and diverse audiences with a range of products. The business had a desire to better understand the ROI of its marketing program, and how the ROI could be optimised.
The solution
Further Insight undertook marketing mix modelling, analysing three years of marketing spend for the brand and its key competitors, marketing metrics, and economic indicators.
The result
Mitsubishi Motors was provided with comprehensive reports on the ROI of its marketing activity at an overall, channel, and submarket level. The analysis also provided insight into the influence of competitor activity, seasonality and macroeconomic factors on sales.
The car manufacturer was provided with media optimisation tools, allowing the business to understand how to:
- Optimise media spend to reduce spend and maintain ROI, by market and nationally
- Optimise media spend to maximise, ROI by market and nationally
- Optimise media spend for individual channels, by market and nationally