Publicis Media India has launched an AI/ML generated state-of-the-art platform- Markriti tol empower Brand Managers and CMOs in developing and analysing Marketing Mix Models on the go, ensuring easy customisability and faster modeling process.
Powered by Meta Open Source and supported by an interactive UI, Markriti aims to deliver efficient, cost-effective, and cutting-edge MMM solutions as well as enhance Publicis Media India’s AI footprint, strengthening its overall client servicing capabilities.
Recognising that the world we live in today is competitive and how, brands are actively adopting a data-driven approach and are thereby seeking tools and metrics that can help measure return on investment (ROI), which allows them to optimise campaigns for better results.
And while there are many campaign measurement tools available in India, Publicis Media India’s Markriti comes in as an integrated MMM solution that enables marketers to measure their ROI across various marketing channels, even before the launch of a campaign. An intervention by Publicis Media India, Markriti aims to help marketers achieve their targets and optimise budgets.
That being said, while Markriti inherits its open source from Robyn, it is a step ahead by providing a top-down UI that allows for a low-code and hassle-free MMM workflow and empowers strategists and analysts in post-modeling to not only engage in MMM studies but also access insightful data in under an hour.
With the time saved in running the model, the Data Scientist can now focus on fine-tuning the model and insights and with capabilities across investment, strategy analytics, data, performance marketing, and content, Markriti is believed to have truly completed Publicis Media India’s suite, further reinforcing the group’s ‘Power of One’ business model.
Commenting on the launch of the same, Rajiv Gopinath, Chief Solutions Officer, Publicis Media India, said, “In the dynamic world of marketing, which is highly influenced by consumer behavior, our clients have always been posed with the challenge of finding a way to measure the impact generated through their efforts accurately. With Markriti, we aim to empower marketers by supporting them from inception and ideation to execution and measuring impact. We also empower Data Scientists with a cloud computing solution and a UI that gives them flexibility in hyperparameter tuning. We are sure that Markriti will enhance marketing strategy building across industries and evolve as the partner of choice for all MMM solutions.”
Additionally, since it is specially curated for the Indian market, Markriti not only helps in selecting the type of ad stock, hyperparameters, and best Pareto model but also provides complete guidance in each step of the modeling process.
Tailored to the Indian market, Markriti, as per Publicis Media India, is built as a high computing model that requires low computing space and effectively runs on the cloud in the backend, making it accessible across devices and teams and to businesses of all sizes.
Having worked with Publicis Media India for close to a decade, Dabur India had recently deployed Markriti for the Karnataka market to address issues around brand growth and return on investment through their marketing efforts.
The problem at hand was to create a comprehensive MMM that could quantify the ROI, determine the optimal marketing mix, and provide strategic insights for improved marketing efficiency.
With Markriti coming to the forefront owing to its transformative approach, user-friendly nature and efficient analysing of the FMCG major’s past marketing campaigns, the MMM tool helped Dabur optimise the existing budget, alongside a significant boost in the overall return on ad spend.
Sharing his experience upon using Markriti, Rajiv Dubey, Vice President, Head of Media and Brand Activation, Dabur India, said, “Publicis Media India has been our analytics partner since 2015. Every year, they bring something new to the table regarding analytics. The Markriti innovation is a great initiative and it’s great to have a partner thinking about driving our business goals. It was used for the Karnataka MMM this year.”
To this, Augustus Daniel, Head of Marketing- Oral Care, Dabur India, having seen the usage of Markriti in his category, added, “We’ve been using Publicis Media India for MMM services for quite some time now, and this year they’ve introduced a new modern approach to MMM through their tool ‘Markriti’, through which the results for the Karnataka market were developed. Markriti uses the powerful Meta Open Source library Robyn and represents some of the best the industry offers in the field. We look forward to more innovations from Publicis Media India in the analytics area.”
