FrieslandCampina: Embedding an actionable global data-driven strategy into the local teams based on Marketing Mix Modelling
DIN 10:15 - 10:45
FrieslandCampina operates in the FMCG sector with a diverse portfolio tailored to 32 countries. All these markets are characterized by competition. In this session, Rui and Stefan will take you through the journey of how Digital Power assisted the global team of FrieslandCampina in embedding a data-driven commercial model into their local teams. Adapting the insights and way-of-working to each culture is crucial for a successful execution: local markets are responsible for driving their own sales.
Why a data-driven business model matters
It is not seeking that 20% opportunity but continuously increasing 1% across many levers. At the start, a variety of internal and external datasets are combined to sketch the complete picture from FrieslandCampina’s supply chain to how their products are perceived by the consumers. Market research datasets help to understand consumer behaviour. FrieslandCampina is the first in the chain, but the consumers are the ones who decide what to buy. All datasets can be interlinked which fuels this continuous feedback loop.
Understanding the sales drivers
Everyone wants to answer the one-million-dollar-question: how can you invest each euro as optimal as possible? Marketing Mix Modelling (MMM) helps FrieslandCampina to understand drivers behind their sales. Not solely focused on the influence of their media since competitor data is included as well: think of their distribution (in how many shops are they selling), pricing over time and the used media strategy. MMM is used at multiple levels to determine for example price elasticity on category, brand or (ideally) product level.
Kick-start your Marketing Mix Modelling journey
Stefan and Rui will cover the theory briefly and share their best practices to kick-start your MMM journey. They will talk about the challenges you will encounter, for example think about how to include media effectiveness? MMM will help you to understand the reasons why consumers buy your products or why they switch to a competitor.