A common mistake in media mix modeling (MMM) is the belief that "more control variables are always better." This mindset comes from treating statistical models as causality machines. The thinking goes: If we just input everything, we’ll get perfect causal inferences on the other side. That’s just not true. In reality, overloading your model with control variables can create more problems than it solves. It can lead to overfitting, introduce instability, and make your model so complex that it’s impossible to interpret. The goal of an MMM is not to estimate every possible factor that affects your business—that’s impossible. Instead, the focus should be on getting correct causal estimates for what you actually control – your marketing levers. In this…
One of the ever-present problems with marketing mix modeling is that you always have to choose some start date. And since you always need to choose a start date, there’s always some period before the start date that’s impacting your results. Here's how Recast handles these carry-over effects.
Mockingbird empowers parents with premium, well-designed baby gear like their signature Single-to-Double Stroller. With a complex buyer’s journey and an…
With digital tracking breaking, consumer brands that relied on multi-touch attribution are now looking for alternatives to measure marketing effectiveness.…
There are three main ways that consumer brands measure marketing effectiveness: digital tracking (MTA), marketing mix modeling (MMM), and testing/conversion…
Business environments are messy; people with different responsibilities need to work together on decisions quickly and without perfect information. That…
In the context of marketing measurement, marketing analysts and marketing scientists use the term “incrementality” to refer to causality. Incrementality…