Acceleration Nordic X Volvo: The Power of Data Transforms Volvo’s Digital Marketing
- August 31, 2023
- Acceleration Nordic
ACCELERATION NORDIC ACHIEVED SIGNIFICANT GAINS FOR VOLVO THROUGH A BESPOKE MARKETING MIX MODEL THAT ANALYZES DATA ACROSS CHANNELS, TYPES AND TARGETING LEVELS
Volvo wanted to understand the complex path from discovery through to the purchase of their cars. Customer data resided at the car dealers. So, how could Acceleration Nordic help them harness their first-party data to better understand the customer journey and optimize their media investments?
Acceleration Nordic captured the unique journey of Volvo customers, giving Volvo both the methodologies and the technology to connect their first-party data points and better engage customers, ultimately improving the cost-effectiveness of their marketing.
For seven of Volvo’s top passenger cars, Acceleration Nordic:
- Identified all digital media touchpoints of their consumer journeys
- Analyzed the campaign data per advertising creative, ad formats and customer targets
- Built a customized marketing mix model (MMM)
- Fused the MMM learnings with other efficiency measurements such as brand lift
- Analyzed the effectiveness of all of Volvo’s ad campaigns, providing a data comparison with Volvo’s existing digital attribution models
- Recommended marketing spend reallocations to increase performance
I would say the biggest change to come from this is that we’re trusting data and using it on a cross-functional basis. It’s not only the marketing department that benefits from this data, it also helps the finance department, as well as the CEO and the management team. Everyone can use this data as a basis for their work.
Marketing Director, Volvo Cars
- 10% increase in revenue potential
- 10-14% increase in brand equity potential
- WPP Extraordinary Awards shortlist