Marketing Budget Optimization
Grow Customer Lifetime Value
Ensure Customer Satisfaction
What is Marketing Budget Optimization?
Determines the best way to allocate the marketing budget across your portfolio of programs. It balances customer needs with your business objectives to maximize your outcomes.
- Reveals your most profitable marketing mix
- Increases customer lifetime value
- Identifies customer program preferences and satisfaction
- Informs participation goals for programs across your portfolio
- Data-driven scenarios determine optimal marketing plan and budget
- Utility value scores indicate a program’s value relative to utility priorities, CSAT, and enrollments
- Proprietary CustomerOptimizer™ methodology predicts improvements in program adoption, customer engagement and customer satisfaction
- Complete budget analysis in written report
Transforming data into a smart marketing budget
Every successful utility needs a comprehensive, realistic marketing budget to ensure it reaches program goals. But budget planning often takes place in product silos with no regard to the overall product portfolio or the effect on customers.
Marketing Budget Optimization changes this dynamic. It uses our proprietary CustomerOptimizer™ data-driven methodology, which examines the business decisions to be made, the measures to optimize, and any logical restrictions on potential solutions to determine the best way to allocate your overall budget.
Increase your marketing return-on-investment
Three scenarios are customized for your utility using the measures to optimize while satisfying the constraints, such as “energy efficiency and non-energy efficiency cannot share budgets”. The scenarios are based on the following outcomes:
- Customer Lifetime Value: Provides a summary of the financial value of each new enrollment in each program for the average length of participation. Each program contributes to value for a varying number of years and has different factors that contribute to that value. Factors include revenue and operational savings.
- Total Return-on-Investment (ROI): The sum of the total CLV less the marketing costs. Although individual programs may not have a positive ROI, the portfolio can be optimized to retain an overall positive ROI.
- Utility Value:This customized score calculates the optimization of multiple outcomes simultaneously. These scores indicate the relative impact between one program’s value to your utility and another in terms of meeting your priorities, customer satisfaction, and program enrollments.
Let us take the work out of budget season, and show you how to increase your marketing effectiveness.
To learn how our Marketing Budget Optimization can help you achieve better marketing results and strengthen your portfolio of products, please download the full product sheet or contact us.
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