How Mars Wrigley measures sales boost using EPAM and Google Cortex Framework in agile media experiments.
Brands of consumer packaged products spend a lot of money on advertising to increase brand affinity and future sales. By tracking media-in-progress data against tactics like targeting certain audience groups, campaigns are frequently optimised as they go along. It can be difficult to precisely correlate media sales rise to target audiences when advertisements are running, though, because the majority of purchases take place in physical locations.
The gold standard key performance indicator (KPI) for media effectiveness used by Mars Wrigley, incremental sales, is not necessarily correlated with “total ad sales,” which is the metric used by many solutions.
Therefore, how can you determine whether your present advertising investment is yielding positive results while optimising your in-flight campaigns?
With the help of EPAM and the Google Cortex Framework, Mars Wrigley is making great strides in addressing this problem by introducing an agile method for precisely calculating the efficacy of in-flight audiences based on incremental sales.
Utilise Cortex to Help Clients Get the Most Out of Their Investments in Digital Advertising
Global advertising spending will surpass $1 trillion in 2024. Digitalisation is expected to reach 69% and 85% by 2029. Because of this change, digital advertising is being severely disrupted, thus determining where to invest is more important than ever in order to make the best choices that will benefit your brand’s company.
The goal of EPAM is to assist clients in connecting marketing and sales data sources in order to provide insights that improve company results. What does that signify? Google Cloud enable marketing executives to comprehend and maximise their media expenditures. It accomplish this by making the appropriate data accessible, turning it into meaningful information, revealing insights from the data, and bringing to light key performance indicators (KPIs) that the company supports.
Mars Wrigley approach
The Mars Wrigley method: Linking information to useful audience insights
After considering a number of options, Mars Wrigley made the decision to examine itself and use its own data. Nevertheless, this information was fragmented across several media and retail channels.
A unified view of ad impact was created within a central, Artificial Intelligence-ready cloud data foundation in BigQuery by the company through the adoption of Google Cortex Framework, which uses pre-built data connectors and standardised data models to quickly integrate media data from sources such as YouTube with sales information from retailers.
Mars Wrigley is now better able to comprehend how particular audience targeting tactics in its media investments are generating additional sales lift across important customer segments by merging data in BigQuery and utilising built-in data science tools like BQML.
For instance, the business may establish geo-targeted control and expose Designated Market Areas (DMAs) for audience testing by finding establishments with comparable sales trends.
In order to maximise sales lift, Mars Wrigley may test and track the success of its campaigns in real time by segmenting its viewers into discrete groups, each of which has a control group.
Google Cloud Cortex Framework
Google Cortex Framework: Quickening perceptions and judgements
A useful addition to Mars Wrigley’s toolkit for media success is the expedited access to a consolidated AI-enabled data core. With its pre-made and adaptable analytics material and smooth interaction with well-known media platforms like Google Ads, YouTube, TikTok, Meta, and more, Google Cortex Framework offers immediate insights.
Previously, it had trouble obtaining a precise in-flight perspective of the performance of audiences. Google Cloud discovered that internal data held the solution using Google Cloud Google Cortex Framework. In order to leverage the synergy of internal data sources and conduct timely experimentation based on real sales lift, it teamed with EPAM Systems. This enabled us to continue making data-driven decisions when they are crucial and closed a significant gap in measuring tool portfolio.
In addition to better understanding how media affects sales, Mars Wrigley is opening the door for a more data-driven and flexible marketing strategy in the consumer packaged goods sector by adopting the Google Cortex Framework.
Some of the main advantages of this strategy are as follows:
Agile hypothesis testing
Having insights in-house greatly speeds up the process of testing theories and making timely adjustments to tactics.
Scalability
The design makes it simple to expand to include a wider variety of retail clients and more media investment data.
Versatility
Mars Wrigley may utilise Google Cortex Framework for a variety of use cases, including shopper media, media formats, and content variants, in addition to audience testing.
