Those responsible for marketing decisions and budget allocation to different actions face complex challenges in which they have to take into account numerous variables and constraints.
The objective of this task is to optimize the budgets assigned to the channels (email, brochures, congresses, sponsorships, digital, etc.) and to the commercial actions to achieve the best possible results in terms of impact and conversion, complying with certain business restrictions.
Some examples of these restrictions can be the maximum or minimum budgets per channel or the saturation of impacts per channel (maximum number of actions or impacts).
In this way, the use of prescriptive analytics techniques allows us to answer the following questions:
What budget should I assign to each communication channel?
What budget should I assign to each commercial action?
How do I avoid the overlap produced by different commercial actions that apply to different profiles?
In this context, operational research becomes a powerful tool for making informed and data-based decisions that make it possible to get the most out of every euro invested.
What advantages does Operations Research offer us?
Through modeling and optimization techniques, it is possible to explore and evaluate the allocation of budgets to various actions and channels of communication, determining the optimal amount to invest in each of them while complying with the restrictions and preferences set by the corresponding department.
From an operational point of view, the use of operational research provides the following advantages:
The use of tools of this type makes it possible to easily analyze how, by varying the probability of conversion of the actions (through implementing improvements, for example), a new allocation is obtained optimized budgeting.
The broad evaluation of opportunities makes it possible to identify those actions and channels that may present synergies in such a way that a more efficient marketing strategy is obtained.
The appearance of new trends can modify the boundary conditions of the entire budget allocation process. With the use of a tool optimization, adaptation to these changes is achieved in a significantly faster way.
Operational research allows finding the optimal combination of actions in such a way that all commercial and security constraints are met. business, maximizing the performance of our budget.
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