The pandemic has disrupted every aspect of our lives, from the way we work, socialize, shop, and more. This turbulence has also impacted all industries and businesses in unprecedented ways. Some industries thrived during the pandemic (utilities, telecommunications, insurance, home services) while many others were devastated (retail, travel/tourism, restaurants/food service, performing arts).
A sense of normalcy is returning in many parts of the globe and most industries have rebounded from pandemic lows. However, the economic downturn brings another wave of uncertainty and challenges.
Rising interest rates, high inflation, the war in Ukraine and the potential for a global recession will continue to impact consumer pocketbooks and confidence in making purchases. In turn, brands must be meticulous with their marketing investments to ensure an efficient, effective ROI during these turbulent times.
Being a data-driven marketer is more important than ever, but it is also more challenging. In this environment, brands require data-first partners with comprehensive platforms to manage and optimize their media/marketing ecosystem.
These solutions must have full visibility into the customer journey and allow the brand’s strategic partners to effectively orchestrate a client’s marketing ecosystem. It’s table stakes to have robust historical performance data spanning media channels, user experiences, CRM, and marketplace factors.
However, leveraging historical data and media mix models alone to predict future performance is a minefield as established seasonal patterns have been thrown off with marketplace instability.
Are you leveraging historical performance data combined with accurate predictive indicators based on current marketplace and competitive conditions? Are you utilizing data to make smarter investment decisions or just overwhelmed based on the growing complexities?
“With how quickly market conditions can change, combined with the pandemic having drastically shifted client business demand curves, traditional media mix models are no longer timely enough to provide actionable insights,” says Michael Evert, GainShare’s SVP of Performance Analytics. “Clients are looking for a more real time integrated performance intelligence solution to predict, measure, and deliver on their business outcome targets on a day-to-day basis”.
GainShare partnered with SAVVI AI to utilize their Machine Learning decisioning solution in combination with our rich multidimensional data platform, the GainShare Performance Cloud, to gain more precise, near real-time insights based on performance and marketplace factors on a daily basis.
Through this partnership, the heightened precision has elevated our predictive performance practice and provided speed to market value to our clients, allowing us to ensure our client’s marketing investments are achieving the highest ROI possible – essential in this time of economic uncertainty.
No one can predict the future, but together, we’re looking to advance predictive analytics in a scalable and actionable way. By providing a data-driven road map for our clients, we can make informed marketing and business decisions with confidence in these (and future) uncertain times.