There are many invisible touchpoints that can have a significant impact on your marketing ROI but can be difficult to measure. With Ruler's statistical modelling, you can analyse the true impact of these touchpoints and make evidence-based decisions for your company.
There will be a point at which your ROI will eventually plateau as you spend more money. Not only can Ruler model your ROI, but it also identifies the point at which your channels' ROI starts to diminish. This information allows you to workout how much you should increase or decrease your spend on a particular channel.
Ruler’s budget optimiser uses diminishing returns to identify the optimal spend for each marketing channel. It does this by shifting recommended budget from channels that have reached the point of diminishing returns to those that have not, such as from Google search to print advertising.
The budget optimiser shows how your reallocated spend will impact your sales and revenue. For example, in this case, you can expect an additional £1.3 million in sales, which will increase your ROI from £1.9 million to £2.1 million.
Ruler’s marketing mix modelling gives an aggregated, top-down view of marketing across different channels and over a certain period, allowing businesses to understand how various marketing tactics contribute to overall sales and closed deals.
By taking into account external factors such as seasonality, economic conditions, competitor actions, and offline marketing initiatives, MMM can provide a more comprehensive view of what drives revenue.
MMM is an approach that can be used to measure the effectiveness of marketing campaigns even in the wake of privacy-related changes such as Apple's ATT, GDPR, and the deprecation of third-party cookies.
Incrementality testing is a hot trend in marketing. Ruler’s MMM helps validate incrementality and lift tests by providing data to understand marketing channel impact on revenue and ROI.