Citizens Bank wanted to understand the impact of different marketing channels on sales while accounting for macroeconomic factors and regional presence. To address this, our team developed a Marketing Mix Model (MMM) that categorized banking products based on similar sales trends and built separate models for each category. The approach began with a baseline model incorporating macroeconomic variables and seasonality, followed by the incremental addition of marketing channels to measure their contribution to sales. Through rigorous validation and refinement, the model identified the most effective channels, providing insights for optimizing budget allocation. These findings enabled Citizens Bank to refine its marketing strategy, improve customer engagement, and maximize the effectiveness of its marketing spend.
Mentor: Hengzhong Liu
