Econometrics

UM and Meta Metrics

 

Calpol - Using Econometrics to predict the future - Johnson & Johnson

Calpol, the pain relief medicine for children, was a category leader in 2016 in the kids’ medicine sector with a healthy share of the market and growth year-on-year. Last year, however, the brand face a number of challenges from private label competitors and from parents either trading down, using less of the medicine or dropping out of the category altogether.

Changes were made to maintain share. Working with UM, the brand shifted its mindset from a pure focus on ROI, to balancing ROI with Retail Sales Value (RSV) - essentially the cash that goes through the till. RSV is a valuable metric because it allows brands to get closer to business metrics such as share performance. ROI was still important; it was a matter of balancing the two.

Through the use of econometric modelling, Calpol established a new way of interpreting the data, using both a simulator and a real time econometrics engine. The former enabled the forecasting of both ROI and RSV for any given TV plan. The latter gave a two week rolling forecast to inform media weights in flexible supporting channels. This resulted in not just maintaining market share, but also increasing value share in the kids’ medicine category.

Silver
MediaCom Tesco: Food Love Stories - Tesco
Through Tesco’s Food Love Stories (FLS), MediaCom set out to change the nation’s view on the brand’s weakest attribute – ‘quality of food’. The econometric modelling from MediaCom Business Science enabled the agency to credit FLS as Tesco’s most effective campaign to date.

The insights generated across three econometric models were instrumental in supporting several key planning decisions, both pre- and during the campaign.

Bronze
m/SIX Making a brave investment an easy choice for Just Eat - Just Eat
Online takeaway delivery provider Just Eat sponsors the X Factor TV programme. It worked with m/SIX to build an econometrics model to understand the impact of TV on new customers, which fed into existing customer orders. The brand also looked at the influence TV was having on consideration and how this would drive orders in the long term.

Finalists
The7stars: Driving the ‘Power of Frozen’ using econometrics, Iceland
Wavemaker: Econometrics gets personal, Vodafone

Website Menu