- Business Process Transformation
- Digital Transformation
Applied analytics to drive smart, actionable, and scalable solutions.
Top US auto insurance company.
Our client wanted to understand the effectiveness of its marketing media mix in driving auto insurance quote volumes into its call centers. A smart, actionable, and scalable solution was needed for analyzing their media efforts, the whole delivered at speed and with consistency. This entailed analyzing a number of factors, including media spend, ratings, impressions, external economic factors, and other relevant metrics.
Sutherland leveraged nBAAPTM to build a media mix model for quote volumes from existing customers (CQV) and quote volumes from prospects (PQV). Our team:
The insights acquired from the scenarios we ran helped the insurer plan optimal marketing investments. Analyses included:
Scenario 1: The response curve equation was applied to current and future media spends or impressions. The difference between the two was the incremental quote volume, which is spread across the weeks using the decay factor.
Scenario 2: In this analysis, the user can alter the current and future spend or impressions for various media and see how much each of it contributes to the quote volume. The equation is applied to the current spend; the resultant quote volume is the current quote volume. Similarly, applying the equation to future spend yields the future quote volume.
The Variables analyzed across multiple scenarios included:
The various analyses helped the carrier allocate media spends for desired quote volumes. This new insight was used to identify prospects and focus call center resources for the most impactful outcomes.
Helped drive up quote volumes incrementally by 22%.
Partnering with our client, Sutherland: