Search Engine Marketing is Great! But You Can End Up Spending Too Much!
In a budget-constrained world, it is important for advertisers to deliver their marketing messages or generate revenue in a cost effective manner. Using SEA, you can reach out to prospects far away, precisely at the time when they are likely to buy your products / services. Search engine advertising also provides far more tracking letting you know when, where, and for which search have your customers purchased the product.
Frequent Bid and Budget Changes Make Optimization Necessary
For marketers, it’s a challenge to pick the right keywords, allocate right budget to the relevant campaigns and to maximize ROI from all campaigns. Another challenge is that companies waste a great amount of budget on products not available, pitching customers who are not interested. Also, ad hoc changes to budget or keyword bids are not good enough. You have to frequently look at the overall spend and optimize budget so you can maximize ROI. It is also difficult to continuously learn from the data incorporating the learnings into bids and allocations. To address such issues our Ad Words Spend Optimizer (ASO) tool helps you decide keywords for a campaign, find ideal bids for keywords, and allocate budget to all campaigns based on expected performance
Marketers in CPG industry are constantly faced with the challenge of allocating their fixed marketing budget among various marketing channels like traditional communication mediums and digital channels.
To achieve effective budget allocation for marketing, companies have to rely on many of the marketing tools available today and create models that will show the impact each of this channel has on sales.
This case study will summarize the various marketing mix models available for marketers by analyzing the strengths and weaknesses of each of them. In particular, we focus on regression models, influence maximization models; agent based models and empirical methods being used by the marketers.
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