Our client is a leading software company operating in the field of instant file transfers. With a wide-ranging presence in more than 25 business areas, they have established themselves as a prominent player in the industry.
The company heavily invests in digital marketing campaigns across various platforms, including Google Ads, Bing, Facebook, and Instagram.
Despite significant investments in marketing campaigns, our client was facing a challenge with stagnant new sign-ups i.e. conversions. They were struggling to see a substantial increase in conversions, despite substantial traffic and the high expenditure on their incumbent marketing strategies.
Furthermore, the absence of a data analytics framework and a strategy for incremental budgets and conversion tactics further complicated the issue. They were in search of a data analytics service in US or overseas that can provide them with advanced analytics solutions without adding more workload on their existing Business Intelligence team and overall data goals.
To address the client's business problem, we set the following analytics goals:
The primary objective of this predictive analytics project is to conduct a diminishing returns study for a specific marketing channel to determine the optimal budget allocation. By forecasting the point at which additional spending does not yield a significant increase in conversions, the project aimed to help the marketing team optimize their budget allocation and maximize return on investment (ROI) using advanced data analytics as a tool.
To achieve the project objective, the data analytics team worked with a comprehensive dataset that includes historical marketing spending and corresponding conversion data across multiple channels.
The dataset included a historic lookback of 1 year and contained information on various metrics such as marketing expenses, impressions, clicks, leads generated, and conversions.
Our team at Quilytics approached the client's analytics issue through the following steps:
Utilizing statistical techniques and advanced process automation tools like SQL and Python, we performed a comprehensive linear regression analysis.
This analysis aimed to determine the strength of predictive analytics study of the cost variable in relation to conversions. We examined the relationship between marketing campaign costs and resulting conversions, providing insights into the impact of expenditures on business outcomes.
The findings guided the client in making informed decisions about budget allocation, optimizing their marketing strategies, and driving better conversion rates.
Leveraging the client's historical search data, we conducted a thorough analysis of diminishing returns. Our goal was to identify the point at which returns from marketing campaigns started diminishing and turning negative.
By quantifying this critical insight, we recommended reallocating budgets to alternative channels and tactics that yielded better conversion rates.
This approach allowed the client to maximize their return on investment and optimize their marketing efforts. The analysis also achieved to build a predictive model using relevant algorithms to estimate the relationship between marketing spending and conversions.
Throughout the project, we encountered challenges such as data integration, ensuring data accuracy and reliability, and gaining a comprehensive understanding of the client's business landscape.
However, through effective communication and expertise in data analytics and statistical modeling, we successfully overcame these obstacles.
Our collaboration with the client involved gathering and addressing data quality issues to ensure a comprehensive analysis aligned with their specific business goals.
- The data analytics solutions provided by Quilytics utilizing advanced automation and advanced analytics techniques had a significant impact on the client's business.
- By leveraging the insights from linear regression and diminishing returns analyses, the client made data-driven decisions and optimized their marketing efforts.
- The recommendations derived from our analyses resulted in improved conversion rates and enhanced return on investment.
- The client experienced a notable increase in new sign-ups, overcoming their previous stagnation.
- The guided framework for incremental budgets and conversion tactics provided a structured approach to marketing campaigns, further contributing to their success.