BP’s marketing and public relations firm, Mindshare, has a case study of its website that touts what the company does.
Making BP’s media dollars work harder
Mindshare helped BP to make the most of their media investments across the many states of the USA.
Destination
The USA forms one country but consumers and brands interact very differently across the many states. Understanding how consumer behaviour differs across these disparate geographies is key for BP to manage the brand in the best way.
Determined to make the most of their investments, BP engaged Mindshare to develop enhanced media investment strategies to maximise sales and boost revenue performance.
Design & Delivery
We built a marketing effectiveness framework for BP across key representative states. Drivers of performance were quantified (e.g. media, promotions, distribution, competitor effects) in these seven states, over three years
Return on investment figures were calculated – both short and long term – for 40 campaigns. Powered with this information BP could allocate spend to the most efficient medium, and hence maximise ROI in each state.
Results
* We optimised the media budget across channels and markets generating a 57% boost in media effectiveness.
* We calculated ‘how much will this hurt’ figures; with the ability to forecast consumer responses to price rises across grades of fuel
* Extra profit was quantified from advertising other parts of the business (i.e. retail from service stations)