Marketing Optimization and Refinement

Purpose

You can use this business process to further optimize campaign automation by maximizing net value or maximizing response. MORE functionality allows you to plan your campaign more precisely and then simulate it. Using the results from this simulation, you can then adjust your planning accordingly.

Prerequisites

You have defined a campaign in the Marketing Planner and defined a currency for this campaign.

Process Flow

 

In t...

       1.      In the Campaign Automation screen, you can create an optimization element in the modeling area by choosing Create and then selecting Optimization Element. This is a node that can be added to the campaign automation process at any point. You can move it around the screen using Drag&Drop and then connect it to other elements of the campaign by right-clicking on an element and choosing Add Connection.

       2.      To enter information for this optimization element, you can right-click on the optimization element and choose Display Details. The details are then shown in the lower part of the screen.

       3.      You need to complete the tab pages Basic Data and Parameters. The Parameters tab page contains the revenue and costs data that is used in the simulation. For each channel you wish to use to execute your campaign, you define either a Response Prediction Model from BW or a default response rate. The Response Prediction Model takes precedence over the default response rate but it is possible to use both. You can then enter the profit that you expect to make from each response, the costs incurred by each contact to a customer and the costs incurred by the response from a customer.

       4.      To further optimize your campaign, for example, if you want to set budget and resource constraints, you can use the conditions to set rules in the same way as you would for the decision nodes. This functionality is available on the Conditions and Assignment Restraints tab pages.

       5.      You can then simulate your campaign on the Simulation tab page. Based on the response rate that you estimated and the cost and budgeting constraints, the system calculates the cost of the campaign and the estimated revenue and uses this to calculate the return on investment. You can then adjust this information until it is ready to be executed live.

       6.      Once you have started the campaign, you can monitor its status on the Execution tab page.