|By PR Newswire||
|April 2, 2014 09:15 AM EDT||
CINCINNATI, April 2, 2014 /PRNewswire/ -- ThinkVine introduced new features into its marketing mix optimization software today that give brands unprecedented insight into how their marketing activities influence customer behavior and drive sales.
The product update enables marketers to view more detailed information about the forecasted results of their campaigns and test more marketing mix scenarios, enhancing their ability to make objective decisions about how to spend their marketing dollars. By showing what tactics drive the most sales and provide the best ROI based on the habits of specific customer segments, ThinkVine's software gives marketers the answers they need, when they need them.
At the heart of the update is improved agent generation, a technical improvement that makes it faster for marketers to gain better insights about how their audience will react to shifts in the marketing mix. Other feature and workflow updates support better and faster modeling and improved visualization of results, including on- and off-line cross-channel attribution and accurate forecasts. As a result of the improvements, modelers will work more efficiently and marketers will receive more actionable information.
"Every marketer is being asked to contribute more and more to business growth in a complex, ever-changing marketplace. Today, ThinkVine continues its pattern of consistently delivering software updates with measurable value for marketers every three months," said Mark Battaglia, CEO of ThinkVine. "This update leverages real innovation in how marketing mix modeling is done to provide marketers with information about consumer response that they need to keep up with the pace of change and get better results."
The new features include enabling marketers to drill further down into results based on time period, consumer group and other variables of interest. This granularity makes it easy for marketers to understand what drives sales, uncover hidden revenue sources, and respond quickly when a competitor or external factors necessitate action.
New features include:
- New and improved charts that deliver more detailed information like how changes in pricing, distribution or external factors will affect sales results.
- External factors like economy or weather can now be included in "what if" planning so marketers can test more ideas under varying conditions.
- Custom plan views give planners more flexibility to work with activities in different groupings to match specific business questions.
- Innovative agent generation creates better agents for a higher-quality, more reliable marketplace.
- Improved modeling workflows address 60 percent of the model-building process for significant time savings.
- New database architecture means improved performance and better support.
"In combination, these new features make it easier for modelers to better replicate real-world scenarios, and for marketers to end the guessing game about what has, and what will work best," said Battaglia.
For more information on ThinkVine's latest version, visit http://www.thinkvine.com.
ThinkVine's marketing mix optimization software delivers the right answers, right now by transforming marketing analysis, targeting, planning and forecasting to provide B2C marketers with both the historical insights, including accurate attribution across all of their marketing, and the forward-looking information they need to get the maximum return on their investments. With ThinkVine, marketers make better strategic decisions about spending levels, tactics and timing across consumer groups, products, channels and geographies. Using innovative consumer behavior modeling, ThinkVine's breakthrough ThinkAhead Technology creates a custom, virtual marketplace that simulates how targeted consumers will respond to combinations of marketing activities over time. The ThinkVine software provides marketers with rich historical insights and better short- and long-term forecasts of ROI and sales, as well as support for an agile, objective ongoing planning process. Its customers include market leaders in consumer goods, food & beverage, financial services, retail, consumer services and other industries. http://thinkvine.com/