Adverity, a leading intelligent data and analytics platform, announced the findings of a new study that quantifies the average potential return on investment (ROI) for companies using Adverity’s end-to-end platform at 368% over a three-year period. The Total Economic Impact (TEI) study, commissioned by Adverity and conducted independently by Forrester Consulting, reveals potential impact for companies using Adverity to help improve and speed up the way they make insights-driven marketing decisions.
Forrester Consulting conducted the study with access to a tenured Adverity customer to project a three-year financial analysis based on interviews with the customer decision-maker and examination of costs, benefits, flexibility and risks using the TEI methodology. The customer, a global manufacturer of consumer electricals works across a variety of brands, operates in multiple locations and runs thousands of marketing campaigns across all their global brands annually.
Despite the scale and impact of the customer’s marketing campaigns, the global marketing performance team had limited oversight of their overall performance prior to investing in Adverity.
The TEI financial three-year analysis serves as an example of the potential financial impact of Adverity’s platform on a business’s marketing operations. In addition to 368% ROI, the study illuminates such benefits as:
- Efficiency in data management and operations, freeing up 80% of employees’ time for a projected overall savings of $564,000 over three years
- Timely insights on performance, allowing for optimization of marketing activities, the flexibility to optimize campaigns allowed this organization to save and reallocate an estimated $2.9 million
- Time savings on marketing analytics activities, company estimated that having access to automated reports could cut down about 75% of their time spent on these activities which amounted to a time savings of $1.8 million over three years
“Companies are spending millions of dollars on advertising and yet still can feel like they are operating in the dark when it comes to showing how and why marketing budget is being spent,” said Harriet Durnford-Smith, CMO at Adverity. “Combine that with competing priorities for budget and it can be dangerously easy for internal stakeholders to lose confidence in marketing. We understand how critical it is to have the right tools to make data-backed marketing decisions and prove the return on investment for digital campaigns.”
The Head of Marketing Insights and Performance at the organization analyzed for the study remarked on the amount of time their team spent on data integration, mapping and cleansing prior to working with Adverity. Data wrangling wasn’t the only challenge as evidenced by the notable insights shared in the study:
- “We were doing marketing in the dark. We had spreadsheet-based reporting, which is like looking in the rear mirror at what happened last month, but we were not able to look forward and steer.”
- “For the first time ever, we have the ability to calculate return on investment or ad spend.”
- “Instead of looking at their own silo, we now urge everyone in marketing and partly in sales, to look at the performance end-to-end so they can see the impact of their investments.”
Forrester’s study also revealed extensive qualitative benefits of Adverity, including transformation into a data-driven organization, improved collaboration through data democratization and improved job satisfaction and employee retention. Adverity’s ability to automate marketing data reporting, analyzing and decision making can produce significant savings and create real-time optimizations for omnichannel digital marketing campaigns.