We first started working with TUI in 2008, setting up their first econometric models and helping to embed marketing effectiveness into their business. Unfortunately the econometrics moved to another agency in 2015. TUI however found it hard to know how to action their new econometric results.
In 2018 we worked with TUI’s econometrics provider to input their econometrics into our Media Optimisation Tool, so they could quickly run scenarios and optimisations. When they saw the power of MOT, they quickly put the econometrics up for pitch and we were delighted to win it back at the end of 2018.
What won the pitch? They love our In Campaign Tracker (ICT) monthly modelling which means they always have their finger on the pulse of how their comms is performing. Together with MOT, they can quickly measure and optimise across the year, allowing the marketing team to operate in a much more agile way.
The other major improvement to the modelling was to move to a Bayesian Hierarchical approach, which allows for a ‘hierarchy’ of models capturing the dynamics of the business. For example models are broken down by brand, region, product, segment, haul length and sales channel, leading to 42 models in total. This richness in the learnings is analysed twice a year in the econometric deep dives.
In our first year working with TUI they saw:
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