What does it do?

If your business is complex, you might not have a clear view of how the choices you make affect revenue and profit.

It’s because there are so many moving parts, and the outside world intrudes: We increased our price in January, but it was a really cold month, so we don’t know what the damage was to sales. Our competitor had a deal on when our TV campaign was on air, we think the TV worked, but we aren’t sure.

A deep dive is a bespoke combination of:

  • Workshops to uncover the issues and your important questions to answer
  • Econometric models to isolate the effects of your decisions
  • Application of theory and industry research to your business
  • Cross-referencing all your research findings to resolve contradictions
  • Cost-benefit and return on investment analysis
  • Sleeves rolled up sessions to produce new marketing and business plans

How does it work?

Business Economics Deep Dive

It only works if your people are prioritised throughout. It’s because the issues are often big and strategic, so that even when analysis is genuinely reliable, on its own it doesn’t drive change. In complex businesses a lot of people need to be on board for strategy change to be implemented.

Your people will trust what we do because we will build their knowledge in, and test their hunches. They’ll understand because we’ll explain simply, in different ways to different people. We’ll work hard to not make your people feel stupid, but instead to deliver the building blocks that enable them to do their jobs well.

Some examples of questions we’ve answered:

  • How can we respond to structural change being brought about by technology?
  • The CFO thinks we should only do online advertising now. Is he right?
  • How can we use media to reduce our reliance on a strong price/proposition?
  • Should we focus mainly on sales through aggregator channels? Or direct?
  • What is the right mix between brand building activity and activation?
  • Which competitors have been most damaging? What can we learn from their activity?
  • Which months in the year are most important for us?
  • We use last click attribution, are we buying the right online ads?

 

What do clients do then?

  • Re-engineer media plans for +30% return on media investment
  • Realise much bigger gains by – for example – changing prices or carrying out successful responses to changes in the outside world

Testimonials from a deep dive at ITV

  • Grace and the team at Magic Numbers have been fantastic partners to work with on this project. They have taken us through a process which could easily have been confusing and overwhelming but instead has produced insightful results which will now play a vital role at the heart of our marketing planning.

    Paul Ridsdale

    Director of Viewer Marketing, ITV

  • Grace and team have been an excellent partner in providing ITV with a robust and accelerated understanding of Marketing Effectiveness through their Econometrics modelling expertise and wealth of experience. Their developed models balance depth and interpretability, and the overall, high-quality work has since opened up new avenues of insight for the business and follow-up exploration.

    Marios Perrakis

    Lead Data Scientist, ITV

  • The Magic Numbers team went above and beyond, they were always happy to answer any questions, deal with adhoc requests from the media agency and were frequently adapting debriefs for different internal audiences. Overall, a pleasure to work with.

    Katie White

    Media Manager, ITV

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