Great customer marketing programs can get stuck in their tracks if there’s not a strong commercial case to support the activity.
As marketers, we need to be prepared to answer questions like: What’s the cost of the activity? What are we expecting to achieve? What’s the risk to the business? And why should it be prioritised over and above other activities in the pipeline? All fair questions.
To support the strategies we create, Rocket Science builds financial models based on known insights that drill down to the cent of what you could realistically expect to achieve within the set budget. The models are designed to provide comparisons between channels, audience segments, offer types and different creative executions – all lathering up to a bird eye view on the activity as a whole. These models are refined and refined until we feel confident that we are allocating your budget in a way that’s going to maximise results and deliver valuable insights. We treat your money with the kind of caution that we treat our own with.
Once approved, the financial model becomes the basis from which we score the success of the activity. This modelling process increases in accuracy over time as actual results are used to form the basis of future forecasts.
In a nutshell financial modelling helps to:
- Set realistic targets at acceptable costs
- Get internal support for marketing strategies and campaigns
- Create hypotheses amongst test groups of customers which can then be proven/disproven
- Slice and dice the campaign by variables such as communication channels, audience segments and types of offers
- Better manage the campaign implementation
- Gauge the success of the campaign