Garbage in, garbage out. If a media mix model has any chance of working, the model has to be fitted on high-quality, accurate data. Keep in mind: marketing mix models are holistic models operating at an aggregate level, not at an individual channel level. What that means is that if any of the data isn't correct, it puts the whole model in jeopardy. Bad data from one small marketing channel can cause a ripple effect that can negatively impact all of the other estimates in the model, so it's critically important to have a process and tools for validating the data quality that's being used by the model and as part of your business's incrementality system. In the context of…
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…