Diminishing ROI on advertising spend has led local company, Australian Outdoor Living, to invest in artificial intelligence (AI) for sales and marketing optimisation for the first time. Australian Outdoor Living has engaged Complexica to deploy of its What-if Simulator & Optimiser, powered by AI platform, Larry, the Digital Analyst®. The software will be used to optimise Australian Outdoor Living's marketing mix and media spend decisions.
“Our challenges include identifying the point of diminishing return for advertising spend, identifying the optimal split of marketing budget in the different marketing channels, and improving cost per lead,” said Daryl Chim, Australian Outdoor Living COO. “Previously, we were using historical results/reports, and local knowledge and experience of the team for this. However, we wanted a consistent data analysis method, to improve cost and business efficiency, and to mitigate the risk of ‘brain drain’ and loss of experience through the departure of key staff.