MMM is hard – we totally get that, but there are common mistakes made by consultants in the MMM space that need addressing. Here’s 10 of them: 1 – Focusing on the in-sample R-squared metric for MMM models. The standard definition of R-squared is “the amount of variation in the dependent variable explained by the …
YouTube is a powerful advertising platform with over 2 billion active users. However, measuring the effectiveness of YouTube ads can be challenging, especially for large brands with complex marketing mixes. There are a number of different ways to measure YouTube ads, each with its own strengths and weaknesses. In this article, we will discuss four …
Most small e-commerce brands probably don’t need anything more complicated than digital tracking tools for measuring marketing performance. But when the channel mix gets more complex and their marketing grows, digital tracking is simply not enough. After $100k+ / month in paid media budget, it’s a good time to start thinking about running some experiments …
From Digital Tracking To MMM: How Brands Scale Through Marketing Experimentation Read More »
Affiliates are really hard to measure. Brands that do affiliate marketing will often face these three main challenges: 1 – The realm of affiliate marketing is vast. It ranges from coupon sites to more intricate partnerships, like a strategic collaboration with BuzzFeed. Each offers its own value proposition, and they often need to be measured …
When we talk to consumer brands about MMM, the concerns about its capabilities are sometimes slightly outdated. MMM has historical roots that trace back to the ‘Golden Era’ of the 1960s when big CPG companies pioneered the use of models to evaluate the impact of their ad campaigns. This methodology worked really well as it …
Marketers often talk about the brand-performance spectrum, but we look at this differently at Recast. We believe that all marketing should be performance marketing – every dollar you’re putting out to the world and every marketing activity should have a goal and a way to measure its impact. That doesn’t mean that every campaign is …
The Brand-Direct Response Spectrum: Why All Marketing Should Be Performance Marketing Read More »
With digital tracking breaking, consumer brands that relied on multi-touch attribution are now looking for alternatives to measure marketing effectiveness. The two methods that comply with privacy regulations and can help get closer to true incrementality are marketing mix modeling (MMM) and conversion lift studies (CSL). Quick context on both: Marketing mix modeling is a …
Recast’s MMM uses Bayesian statistics, but why doesn’t everyone else? We asked this to Recast’s co-founder Michael Kaminsky, and the rest of this article covers what he answered: “When I started my career as an econometrician, I was pretty comfortable with the frequentist methods that people who did a technical degree saw in their statistics …
Marketing Mix Modeling’s main goal is to find the incremental return of every marketing investment – how many sales did each channel drive that we wouldn’t have gotten otherwise? If you can find true incrementality, you can use it to optimize your budgets, get the right channel mix, and get rid of wasted spend. The …
3 Methods To Validate Your Marketing Mix Modeling for True Incrementality Read More »
Today, we introduce the Lift Test Calculator – an open-sourced tool designed by Antonio Vargas, a senior data scientist at Recast. The Lift Test Calculator was created to address the gap in the way lift tests are conducted and interpreted. Antonio and the Recast team recognized that marketers often ran into issues when trying to …
Recast’s Lift Test Calculator [Download + Video Walkthrough] Read More »
