Forecasting isn’t a hobby at Uber, it’s core to their business. Time series models help Uber predict demand so they know where to send their drivers, forecast hardware and computation requirements so their servers don’t go down, and allocate billions of dollars in annual marketing budget, the use case we are most interested in. Marketing …
One of the biggest misconceptions holding back marketers to day is the myth of the brand–performance marketing dichotomy. Many newer brands go through the same cycle: They build a promising business using performance marketing They see lots of big household-name “classic” brands doing non-performance (aka “brand”) marketing They copy the playbook and start running “brand” …
Occasionally, prospective customers react with shock when we tell them that we don’t “control for the COVID pandemic”. “The pandemic really impacted our business, so how can your model be accurate if you don’t control for Covid?” they ask. The answer is simple: Recast models changes in the macro-environment, but doesn’t control for them. This …
For many businesses, email programs are a huge revenue generator. For every $1 marketers spend on email marketing, they receive $36 in return, according to 2,000 marketers who responded to Litmus’ 2020 State of Email Survey. Emails play the important role of nursing customers along their buying journey, drive retention, and cross-sell and up-sell customers …
Introduction The macro-economy in the US is tough right now. Inflation is up (driven in large part by insane gas prices) and although consumer spending remains high, many are nervous about how consumers will respond to having an ever-larger chunk of their monthly budget eaten up by fuel costs. Many digitally native brands (though not …
After Apple’s iOS14 update and Facebook’s release of the Robyn Media Mix Modeling tool, everyone has been awaiting Google’s response. Because it uses aggregate data, MMM is a solution to the death of tracking and the cookie-less future, so it’s future-proof to any changes in the rules, whether they come from Apple or government legislation. …
Marketing Mix Modeling (MMM) has been around since the 1960s, where it was used to correlate spikes and dips in sales to marketing activity. There has been a recent resurgence of interest in marketing mix modeling, as consumers increasingly opt out of digital tracking and digital-first brands mature to offline channels. We’re now living through …
Marketing Mix Modeling Software: Build vs Buy Calculator Read More »
The global marketing attribution software market is set to grow by 14.4% to USD 3.6 billion by 2023. However the industry is in a state of upheaval, as marketers move to more privacy-friendly solutions in the wake of limits to tracking imposed by Apple, the European Union and others. Marketing attribution is defined as identification …
The Best Marketing Attribution Software For 8 Measurement Methods (2022) Read More »
At Recast, we often speak with practitioners who are trying to build their own MMM in-house. While we think there are great reasons to use a tool like Recast instead of building in-house, many people want to try it themselves before committing to working with a partner. In this post, I’ll lay out the check-list …
Marketing mix modeling is hard. Trust us. When we were starting Recast, we thought it’d be easy: we’d use some off-the-shelf Bayesian time-series models and six months later we’d have a top-shelf model. But unfortunately, it didn’t work like that. It took us multiple years of PhD-level research time to get to a model that …
