Pushing objective, mathematically proven insights to the core of all consumer marketing operations using AI backed techniques which uncover the indirect effects of both traditional and digital marketing and enable near real time optimization.
Due to the business-critical nature of DNA FWD it cannot be accessed for demo or testing purposes. However, its value, operational capability and transformative concept are explained in detail below.
We all know that it’s difficult to measure radio, print, out-of-home or television advertising effectiveness. This is mainly due to the fact that we don’t have a digital feedback loop such as the ones in online display advertising, where we can just follow the cookie/session trail from impression to purchase. Having tools and techniques in place for brands to understand and optimize their marketing spend is therefore a problem that requires a thought-out solution.
The aim is to conduct best-in-class marketing activities that meet business targets and optimize the marketing spend according to consumer and market behavior. Furthermore, understanding of contextual effects, such as weather, seasonality and the economy is something that needs to be taken into consideration when estimating the effectiveness of any activity.
Finally, such tools and techniques should be self-evolving and self-learning, automated and in the hands of people responsible for marketing investment optimization and related operations. Data used for the models and tools should be transparent which in itself is an asset for the organizational know-how of doing effective marketing operations. All of these key factors make it imperative for the solution to be something brands use for themselves, not something that is bought as a one-off analysis.
Optimizing marketing communications objectively through data is a strategic asset for DNA. Having insight and knowledge of the topic in our own team is crucial for success. This does not mean that we wouldn’t do impactful marketing communications together with our partners, utilizing each one’s core assets in the process. Rather, our goal is to improve the effectiveness and functionality of our whole marketing ecosystem through the use of new competences and insights.
STRATEGY & IDEA
Our approach is best suited for non-digital channels without feedback loops, but have proven to be beneficial for digital channels as well, since we can measure non-linear effects of display advertising against all channels. This allows a more holistic approach on marketing measurement than just basic attribution models.
Effectiveness insight in your visualization tool of choice.
The challenge is that, when measuring marketing effectiveness, it is often the case that there are no direct links between cause and effect, which would unlock the answer, and since many marketing investments contribute to the same sales targets, there is multicollinearity present as well. Furthermore, multiple things and even the current context – weather, season, day of week, stability of the economy – can affect the outcome. Thus the understanding of non-direct effects is crucial for insight creation. One must be careful not to give credit where it is not due.
DNA FWD is a solution that analyzes all marketing investments and finds out which of those investments contribute to sales and to what extent by the use of generalized additive models, a type of modeling family that focuses on understanding non-linear relationships between a set of features and a chosen target. The solution enables real-time, continuously adaptive insight discovery. And since it’s always context aware, you can keep on track on what’s working and what’s not.
In a nutshell, we’re bringing the data and AI backed ways of digital marketing to “traditional” marketing and bridging the gap between the two in terms of being data driven. This helps to put objective, long-term, mathematically backed up insights at the core of all marketing operations.
Data keeps opening our eyes. We had carried out one-off analyses on marketing impacts to our weekly sales figures. However, since consumer behaviour and market dynamics change very rapidly, it was important for us to develop a system which continuously guides our decision-making with fresh and insightful data.
Chief Digital Officer