New Version of Industry-Leading ThinkVine Marketing Mix Optimization Software Adds SmartMix to Provide Brands with the Best Plan to Achieve the Greatest ROI
CINCINNATI, Jan. 22, 2013 /PRNewswire/ -- ThinkVine, a marketing mix optimization software company, today announced the addition of SmartMix included in a new version of its award-winning solution for marketers who want to achieve the greatest return on their marketing investments. The new SmartMix feature enables brands to quickly and accurately identify the best marketing plan that reaches the maximum ROI for any given spend.
"As planning has moved from annual to anytime, marketers have been challenged, until now, with taking this leap and making informed decisions at such a rapid pace. And, they require much more detailed consumer-level data about media consumption habits and purchasing behavior to justify these decisions," said Damon Ragusa, ThinkVine chief strategy officer. "Deterministic approaches used traditionally for marketing optimization have fallen short of helping marketers to land this jump because of limitations in insights provided, and the lack of consumer behavior data in the model. SmartMix is the first in a series of innovations released quarterly that enables marketers to quickly get actionable, forward-looking information to achieve strategic goals across consumer groups, channels and geographies."
Based on information about the brand and marketing objectives, SmartMix runs millions of calculations to evaluate thousands of plans to provide customers with the best tactical mix to achieve their goal. Once the plan is generated, they can easily forecast and optimize across key marketing dimensions. The next series of enhancements will provide marketers with the optimal budget to achieve a sales target or generate the greatest profit.
"ThinkVine has always been focused on driving innovation in ways that help marketers succeed today and five years down the road," said Elan Long, ThinkVine vice president of product management. "With SmartMix, we are launching a new generation of marketing optimization where our methodology can breakthrough the complexity and dynamic nature of the marketplace to provide marketers with a sophisticated and efficient process from goal recognition to success."
In addition to SmartMix, the newest version of ThinkVine's software now offers richer consumer profiles that incorporate Media Behavior Institute's USA Touchpoints data, which provides detailed behavioral insights into how consumers lead their daily lives. ThinkVine leverages this data to provide customers with richer, more granular insights across key targets and tactics as well as better short- and long-term forecasts of sales and ROI.