Product Updates

Craft campaign with confidence with Lifesight Scenario Planner

Published On: 2024-02-15


For marketers, making trade-off decisions is part of the daily routine—whether it's deciding on the right marketing channel or picking the next audience segment to focus on. Balancing the choices wisely is what turns good campaigns into great ones. Lifesight's newest feature, the Scenario Planner, is a strategic foresight designed to help marketers make these decisions with ease, mitigate risks, and uncover innovative opportunities to stay ahead.

But first things first- know the concept behind

Scenario planning—a way to explore and prepare for multiple future possibilities that lay the foundation for a smart innovation strategy. It builds on trend analysis and forecasting to imagine future potentials, enabling you to create strategies that are adaptable, responsive, and resilient.

Scenario planning empowers you to mentally simulate every campaign possibility, guiding you to select the optimal strategy. It offers confirmation on your budget distribution, identifies the most effective channels to engage, and forecasts potential conversion rates or KPI outcomes for each channel, ensuring your decisions are both strategic and data-driven.

Developing strategic foresight

The Scenario Planner , is your new strategic partner, designed to tackle these challenges head-on with several key benefits:

  • Strategic Budget Allocation: By synthesizing insights from Marketing Mix Modeling, the Scenario Planner provides clear, actionable recommendations for optimizing your marketing spend across channels for maximum ROI.
  • Unified Insights: By offering strategies for integrating various data sources, the Scenario Planner gives you a 360-degree view of your marketing efforts, enhancing decision-making.
  • Proactive Strategy Adjustments: With early warnings about potential issues, you can pivot your strategies before facing any significant setbacks.

Implications: From planning to performance

Imagine you're planning your quarterly marketing strategy. You have multiple channels to consider, each with its own set of variables and unknowns. Here's where the Scenario Planner shines:

  • Creating multiple scenarios :You can explore up to five different strategies, tweaking variables like budget allocation, target CPA, or platform constraints, without affecting live campaigns.
  • Seeing immediate impact :Visualize the potential outcomes of each scenario through intuitive graphs and insights, making it easier to compare options and make informed decisions.
  • Streamlining decision-making : Once you've identified the most promising strategy, implementing it is just a matter of applying the insights provided by the Scenario Planner.

Wrapping It Up

With the Scenario Planner, we're providing a new way to approach marketing strategy—a way that's smarter, more integrated, and outcome-focused. Whether you're looking to optimize your budget, streamline your planning process, or simply gain a clearer understanding of your marketing efforts, the Scenario Planner is designed to help you achieve your goals with confidence and clarity.

To get started, head to the Scenario Planner help article!