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FAQ

FAQ’s GENERAL

What does LiftLab do?

LiftLab delivers B2C marketers the most accurate, unbiased, and transparent understanding of their media spend and its effectiveness so they can confidently make the best decisions for their P&L. As recognized leaders and innovators in marketing and data science with decades of experience, we help marketers change the conversations with their teams, the finance department, their agencies, and their ad partners by arming them with the most transparent, granular understanding of where to guide spend to meet growth and profitability goals.

LiftLab works with B2C brands across retail, CPG, digital services, and other industries responsible for the growth and profitability of their marketing P&L and driving significant media spending across at least five media channels. We understand that each business has unique needs and goals. To find out if you are a good fit for LiftLab solutions, don’t hesitate to contact us to start a conversation, and we will help you determine if you are a good fit for LiftLab and if we are a good fit for you. We will only sign clients if we know we can be successful together.

Informed by decades of experience working with growth marketers, LiftLab brings the power of a SaaS-based solution combined with a team of data science, marketing science, and customer success experts to help you as you embark on a path to Marketing Effectiveness and adopt new metrics that hone in on maximizing your growth and profitability. By leveraging our solution, you can meet your business goals, maximize your marketing effectiveness, and ultimately be a change agent in your company by bringing an investment mentality around Marginal ROI or Marginal ROAS to your marketing plan.

With LiftLab, you can break down your results by media type, channel, tactic, or campaign, allowing you to direct your marketing spend for maximum growth and profitability. Our platform moves beyond incrementality or static marketing analytics to give you a forward-looking dashboard on how to budget, plan, optimize, and prioritize your media spend. We will help you determine how much to spend and when to stop spending…something we call Marginal ROI or Marginal ROAS. LiftLab does this by being the first to integrate Geo-testing Media Experimentation with an Agile Marketing Mix Model delivered as a SaaS solution so that you have a weekly dashboard to make the best decisions for your marketing budget.

LiftLab pioneers linking causal-based geo and time-based experiments with correlative mix models, increasing accuracy and creating actionable data. LiftLab provides performance teams with a baseline to compare daily results over a six-week period, accurately measuring sales lift and determining optimum spend levels across channels, tactics, and campaigns. Additionally, we will let you know through our Channel Signal Strength Scores feature if your channel or tactic is weak and you need more data. We want you to know when to test the system before you invest more money. Our philosophy is complete transparency and having the hard conversations when we need to push harder on the model before making significant changes to your plan.

LiftLab is committed to staying ahead of the curve when it comes to emerging trends and advancements in marketing analytics. We invest in ongoing research and development, collaborate with industry experts, and continuously update our platform to incorporate the latest methodologies, technologies, and best practices, ensuring our clients always have access to cutting-edge solutions and insights. Some of our best insights come directly from our customers, and they have had an active role in shaping our product futures.

LiftLab prioritizes data security and confidentiality. We utilize industry-standard encryption protocols and implement strict access controls to safeguard your sensitive information. Additionally, our team undergoes regular training to ensure compliance with data protection regulations, providing you with peace of mind regarding the security of your data.

Marketing Mix Modeling (MMM) is a statistical analysis technique used to quantify the impact of various marketing tactics on sales and other key performance indicators. It involves analyzing historical data to understand the effectiveness of different marketing channels, such as TV, radio, print, online advertising, and promotions, in driving business outcomes.

Marketing Attribution is the process of assigning credit to various marketing touchpoints along the customer journey for driving conversions or sales. It aims to determine which marketing channels or campaigns contributed most to a desired outcome, allowing marketers to optimize their strategies and allocate resources more effectively.

Media Mix Modeling (MMM) is a type of marketing analysis that evaluates the relative contribution and effectiveness of different media channels in achieving marketing objectives. It helps businesses understand the optimal allocation of their advertising budget across various media platforms such as television, digital, print, and radio to maximize ROI.

ROAS, or Return on Ad Spend, is a standard measure of marketing effectiveness. ROAS looks at how much ad spend a brand puts into a given initiative as compared to the increase in revenue that follows. ROAS is premised on the assumption that revenue realized after marketing activity was likely driven by that marketing activity – an assumption that fails to take into account other factors that could have driven revenue through organically-driven sales.

Marginal Return on Ad Spend, or mROAS, starts with the premise of iROAS in that, with the help of MMM and/or experiments,it compares marketing returns to an isolated baseline of organic growth. mROAS then advances the approach further by zeroing in on the point when marketing efforts hit saturation points and face diminishing returns. This shows marketers not only how much they should be spending in any one outlet or initiative, but when to switch budget allocations as well. To learn more about the value of mROAS as a measurement approach, download the Beyond Incrementality eBook.

Incrementality or incremental return on ad spend (iROAS) isolates the incremental impact of marketing that is distinct from the baseline of organic revenue growth. This isolation either happens through marketing mix modeling (MMM), experimentation, or a combination of the two. While far more precise than ROAS, iROAS approaches look at average impacts of marketing over the entire analysis period and do not account for diminishing returns within that timeframe.

Incrementality Testing, also known as A/B testing or randomized control testing, is a method used to measure the true incremental impact of a marketing campaign or tactic. It involves comparing the behavior of a group exposed to the marketing intervention with that of a control group that is not exposed, allowing marketers to assess the causal impact of their efforts.

A Profit Curve or Diminishing Returns Curve in marketing analytics visually represents the relationship between marketing spend and profitability. It illustrates the point of diminishing returns, where additional spending no longer yields proportional increases in profit. By analyzing these curves, businesses can identify the optimal level of marketing investment to maximize profitability.

Geo-testing, also known as geographic testing, is a method used to assess the impact of marketing initiatives within specific geographical regions. It involves conducting experiments or analyses in targeted geographic areas to understand how local factors such as demographics, culture, and competition influence marketing performance. Geo-testing helps businesses tailor their marketing strategies to local market conditions for optimal results.

FAQ’s PLATFORM

What is Geo-testing in marketing analysis?

Geo-testing, also known as geographic testing, is a method used to assess the impact of marketing initiatives within specific geographical regions. It involves conducting experiments or analyses in targeted geographic areas to understand how local factors such as demographics, culture, and competition influence marketing performance. Geo-testing helps businesses tailor their marketing strategies to local market conditions for optimal results.

The LiftLab Marketing Effectiveness Platform is highly customizable to meet your specific business needs and objectives. From customizing dashboards and reports to tailoring analysis methodologies and algorithms, our platform can be adapted to accommodate your unique requirements, ensuring you receive actionable insights that align with your goals.

LiftLab Profit Curves provide a clear picture of your marketing spend’s diminishing returns and profit curve. By understanding the optimal spend levels by media type, channel, tactic, or campaign, you can drive ongoing optimization to achieve growth and profitability.

The LiftLab Marketing Effectiveness Platform provides weekly data refreshes, ensuring you have access to real-time insights. This frequent update cycle enables you to quickly redirect future spending to the best channels, tactics, or campaigns.

Absolutely! LiftLab offers comprehensive analytics and reporting dashboard for some of the following common use cases: budgeting and optimization, seasonality and promotions planning, forecasting and optimization of future spend, funding upper and mid-funnel investment, and quarterly reviews as just some of them. We provide detailed insights and actionable recommendations to help you make informed decisions and achieve your business goals effectively.

Yes, LiftLab is designed to seamlessly integrate with existing marketing technology platforms and systems. Whether you use customer relationship management (CRM) software, marketing automation tools, or analytics platforms, our flexible integration capabilities ensure smooth data flow and interoperability, allowing you to leverage LiftLab’s insights within your existing workflows.

Yes, LiftLab offers comprehensive training and support services to help you make the most of our platform. Whether you’re new to marketing analytics or an experienced user, our team of experts is available to provide onboarding assistance, ongoing training sessions, and dedicated support to ensure you maximize the value of LiftLab’s solutions.

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