Creating important marketing calculations to determine how effectly a network converts a viewer into a consumer.
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We will be speaking into 3 different datasets. Client XYZ advertises their products on several TV networks with airing information and survey data after customers make their purchases. We will be reviewing these using a lookup table and ultimately put it into a report format through Python. There will be guidance on the cost to acquire a customer through TV and the most cost-efficient networks so Client XYZ can determine where to increase or decrease spending. The survey looks like the below image.
To get a local copy up and running, download the Analyst_Dataset.xlsx Excel file and the TV_Networks.py Python file. Then run the code in an IDE software, such as Spyder. Save them in the same folder.
The first step is cleaning up the data. We intend to create a report that shows calculations of the below per network. We need to extract important information from each dataset in a format desired for the calculations.
- Cost per Visitor -> Spend/Lift (low is desired)
- Conversion Rate -> Purchases/Lift (high is desired)
- Cost per Acquisition (CPA) -> Spend/Purchases (low is desired)
The output of the code is the monthly report, shown below, with the three calculations.
A few takeaways with each of the calculations are written below.
Cost per Visitor ranges between ~$3 - $70
- Lowest cost is desired
- Science and Comedy Central networks are the highest outlier CPV’s
Conversion Rate ranges between ~0.2% - 4%
- Higher rate is desired
- Majority rates are above 1% except Willow TV, One America News Network, Dish Network, Zee TV, and Star Plus
Cost per Acquisition (CPA) ranges between ~$400 - $5,000
- Lowest cost is desired
- CNBC has unusually low CPA
The guidance includes removing 4 networks. Comedy Central has a good conversion rate, but cost per visitor and CPA are both too high. Willow TV, One America News Network, and Zee TV have a poor conversion rate and very high CPA. It can be recommended to spend on 3 networks. CNBC, MSNBC, and CNN have a low cost per visitor and CPA and have a higher conversion rate.
Karishma Mathur - karishma324@gmail.com
Project Link: https://github.com/Mathurkarishma/tv-networks-efficiency