At LiftLab, we know our clients want to go far beyond rear-view-mirror marketing analysis. They turn to us for modeling-plus-experimentation that provides forward-looking, action-oriented insight that guides confident decisions on where to direct media spend with the greatest degree of ROI.
That’s why, to support our customers even more, we have rolled out multiple new capabilities within our Forecasting Dashboard, part of the LiftLab Marketing Effectiveness System. Each feature empowers LiftLab customers to get a clearer picture of how marketing performs for the most efficient spend allocation today, and optimal planning for tomorrow.
Read on for the new features:
1. Analyze Growth and Profitability Separately
By analyzing growth and profit separately, you’ll be able to gain a clearer understanding of how your marketing efforts contribute to long-term growth and profitability. This empowers you to plan based on distinct marketing goals, and to better zero in on tradeoffs to fuel expansion while ensuring financial health.
2. Break Out Reporting by Paid Impact vs. Baseline Revenue
Our reporting dashboard now lets you view the impact of paid, owned, promotional, and promotional channels as well as baseline expectations. This holistic reporting approach allows you to evaluate the real impact of your initiatives both separately, and in concert.
3. Analyze Based on Planned Budgets
To help you predict outcomes based on different budget permutations, LiftLab now allows forecasting based on your most up-to-date allocations. This means marketers can scenario-test outcomes based on the marketing mix they’re looking to build – not just the one they already have loaded in-system.
4. Run Fixed-Budget Scenarios for Select Channels
If your quarterly budget for one particular social network gets reduced dramatically, how will the changes affect the incremental impact of your media plan overall? If you already spent your budget on Catalog, what are your best options for getting the same impact from the remaining channels in your portfolio? Our new fixed-budget scenario feature for select channels lets you answer these and similar questions about your specific budget constraints on leading marketing outlets.
5. Scenario Plan Based on Business Outcome
Run simulations on various plans depending on the result you’re looking to drive – including web conversions, offline conversions, and new or existing customer-driven revenue. This feature is ideal for brands looking to drive specific outcomes through marketing – such as growth businesses looking to optimize for new customer acquisition, and big retail brands looking to expand their ecommerce footprint.
6. Run Analyses Based on CPO Targets
Scenario-plan to optimize spend to your ideal Cost Per Order, in order to sync marketing initiatives with sales outcomes and financial considerations.
7. Weekly-Level Analysis
Analyze real-time marketing impact at the weekly level to drive more precise marketing actions including faster course-correction and future planning based on more granular insight.
8. Sync Reporting to Your Fiscal Calendar
Sync weekly reports to start at your preferred day of week – benefiting ongoing workflow, reporting to Finance and other teams, and your ability to sync Marketing efforts better to broader corporate plans.
These upgrades are already available to LiftLab customers. If you’re already using LiftLab, contact your account representative to learn more. If you’re not a LiftLab customer and want to find out more about these features, request a demo with our team.
