Keen's Dynamic, Data-Driven Modeling Tool Flagged Several Wins for Eckrich
The Eckrich team pulled out positive ROIs in the face of a 36% budget reduction in 2017 and a smaller decrease in 2018. Despite this the brand will nearly double its return this year, with accelerated top- and bottom-line growth, thanks to a newly optimized strategy built on insights from Keen Decisions Systems.
- Reallocate some resources from college football to direct-equity tactics
- Increase shopper marketing to improve merchandising performance
- Create continuity in digital, including a significant increase in paid search
- Increase consumer spending by $3 million, the threshold for generating profitable returns
As it begins planning for 2019 Eckrich will run Keen’s analysis and then build its plan around it, a fundamental shift to a more dynamic and data-driven decision model.
“Where Keen differs is predictability— how its modeling can predict the future— that’s what led us to partner with them.”
Build on Equity
Eckrich “borrowed equity” with a college football sponsorship to help put its name on the map. The college football program is successful, generating a $1.07 ROI. Keen’s analysis revealed that increased investment in direct-equity tactics could offer significant upside. As a result, Eckrich is redirecting some funds into equity programming, including online video, a new channel.
Keen’s model showed the brand was overspending during college football season (August to November), missing an opportunity to extend its impact across the year. Eckrich optimized timing accordingly, and now six of seven tactics are forecast to deliver an ROI >$1 in 2018, compared to just four in 2017.
Keen’s analysis confirmed the brand’s plan to move away from its mobile marketing tour, while confirming its plan to expand point-of- purchase shopper-marketing and in store promotional activities. Shopper marketing in support of its equity messaging will be pursued outside football season; the optimized timing promising improved returns.
Keen’s model suggested stronger returns could be achieved on Eckrich’s digital tactics through some simple shifts in tactics (decreasing banner ads, increasing paid search) and by optimizing timing for greater continuity.
The winning combination, according to DiJohn, will be to ensure “an ongoing transfer of information so we’re able to read what Keen’s model is telling us and react quickly to impact the business positively or wage against negative impacts. It’s all about the real-time ability to get in and work the model. “One of the biggest benefits of working with Keen has been the ability to align how we look at our business with the way our leadership wants to look at it.”