Case Study: Marketing Spending Effectiveness
Source: McKinsey & Company
A leading brokerage firm was facing an explosion in the amount industry players were spending on advertising, an increase in the number of customer touchpoints, and an upswing in the frequency of customer interactions. The company was interested in developing a new marketing strategy that would focus limited marketing investments on key segments and geographies; management also wanted to strengthen the organization's ability to support the new strategy. McKinsey developed a better understanding of target customer segments through needs-based and economic segmentation. Using the customer decision funnel, it determined that a sufficient number of customers were considering using the firm.