Cosmetic Company Use case Explained in Anatomy of Decisions

Digitisation and technology have changed the face of marketing in india. Many companies are relying on data science and analytics for advertising their products. While this technology is helping the companies reduce their cost and increase their revenue, there are some issues like fraudulent ads and click-through rates that cost companies a lot of money as well. 

Due to digitisation, the companies now have more control over the content that is being displayed as well as the audience to which the content is displayed.
 
In this video, Utkalika walks us through the example of a  European Cosmetic giant, who shifted from the traditional methods of advertising to data analytics.
 

The cosmetic giant first used to do digital outdoor marketing based on the traditional methods to decide what and where to advertise. They took into account parameters like footfall and focus groups to develop the strategy.

Later on, they decided to shift to data analytics because of the limitations posed by the traditional methods. They were not able to know what content strategy worked for them and what didn't. In 2018, the company decided to use analytics in a whole new way.

They used facial recognition, smart device integration and location mapping to connect the dots. They used to spend analytics to analyse the ad spend across the area as decided to advertise more on areas, from where they had maximum revenue.

So after using analytics, they analysed which marketing strategy would be good for their company and it helped them save cost and increase their revenue.