Learn how HexClad leveraged Prescient’s MMM to optimize ad spend across media channels and gain real-time, actionable insights into Amazon spillover metrics.
About
HexClad unites the performance of stainless steel, the durability of cast iron, and the convenience of nonstick to create the premier cookware and kitchenware appliances on the market. Michelin-starred Chef Gordon Ramsay says, “HexClad stands up to my demands at home and in the studio. Not only are they beautiful pans, but their hybrid technology cooks to absolute, utter perfection.”
Challenge
HexClad needed an MMM to quickly and accurately optimize ad spend
HexClad’s Head of Advertising, Cameron Bush, has always applied a kaleidoscope of lenses to his performance marketing stack. But he was looking for a tool to unify that strategy and confirm that HexClad was optimizing its ad spend. He was interested in using a Marketing Mix Model (MMM), but he wanted a dynamic option that offered:
- Real-time testing – For on-demand gut checks of ad spend
- Long-term projections – To forecast ROAS several months out
- Affordable pricing – In his words, a tool that “doesn’t cost as much as a mortgage”
- Fast onboarding – To be up and running within days, not months
Cameron also wanted to eliminate last-click bias from HexClad’s multi-touch attribution. Instead of lowering their top-of-funnel spend on higher price-point items, Cameron knew they needed to maintain spend to encourage growth. Why? High-end products have longer consideration cycles – customers usually wait 30 to 90 days after their first encounter to make a purchase. He hoped to gain visibility into Amazon spillover, AKA Halo-Effects, at both campaign and channel levels. He knew that without measuring the “leakage” they may underestimate the effectiveness of their awareness spend.
As HexClad’s international footprint spreads across the UK, EU, Australia, and Canada, he also needed consistent visibility into comparable ROAS and performance metrics to allow his lean team to work efficiently with media buyers. Then Cameron found Prescient, and he knew it was what his e-commerce tech stack had been missing.
Using Prescient’s MMM helps us triangulate where our success is coming from far better, particularly in measuring our top-of-funnel channels.
Solution
Prescient’s MMM generates dynamic ad spend insights and scenarios
Prescient’s software met Cameron’s expectations almost immediately. The platform ingested HexClad’s data in just days and began providing HexClad with dynamic visibility across campaigns and long- and short-term projections. It was the essential data validation Cameron had been looking for.
Now, Cameron can run the model multiple times per day if he wants to, and it shows HexClad’s real-time MMM ROAS across all campaigns so he can plan top-of-funnel funding further in advance.
He also has confident ROAS data and various optimized and forecasted budget scenarios to direct his international media buyers. Plus, Cameron no longer has to call buyers across different time zones. Instead, he monitors the situation in Prescient’s automated Scenario-Tracking tab, which helps him feel confident about hitting his budget and revenue projections – or even adjusting trajectory in real time if necessary.
In addition, Prescient supplied the Amazon spillover metrics that HexClad needed – and they did it in just two months. With the visibility Prescient provides, HexClad confirmed the need to overhaul and optimize its entire Amazon budgeting process in 2023. Now, Cameron spends far more on top-of-funnel and sees greater success with Amazon and DTC campaigns. No other platform would have brought him this level of confidence so quickly across his omni-channel mix.
Results
Using Prescient, HexClad trades surface-level metrics for highly accurate projections
HexClad has seen incredible growth over the last couple of years, and Cameron attributes much of that to his ability to measure and understand true bottom-line KPIs with Prescient’s MMM.
Given that HexClad has built a sizable organic presence, Prescient’s ability to isolate the impact of HexClad’s paid media dollars on total and incremental revenue is key. As a result, Cameron’s team has lessened the risk of overspending on campaigns that may be over-attributing value. Instead, they’ve leaned into ones that are more likely to exhibit Halo-Effects.
In addition, Prescient helped eliminate the risk of overspending and hone in incremental revenue — and Cameron can adjust easily if they aren’t seeing results.
Prescient has helped HexClad improve several key performance metrics, including:
- 20% increase in ROAS
- 40% more cost-efficient MMM — with better results
- 20+ hours/month saved on budgeting and revenue tracking
Cameron is excited to see even more benefits from Prescient’s speed of iteration and ongoing improvements. For instance, since the partnership began, Prescient already added scenario and tracking tools and the Amazon integration. Cameron says it’s clear that Prescient is focused on the value it delivers to customers and will stay on the cutting edge of ad spend testing in the coming years.
Prescient has done exceptionally valid work with our data, and they’ve done so quickly and affordably. There’s really not another tool like it on the market.
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