Building a Marketing Mix Model (MMM) that actually works and you can trust isn’t easy. A great model can radically change your company – how you forecast, where you allocate your budget, how you think about incrementality…– but a bad one can lead you to make very biased decisions. As more companies are now looking into MMM as part of their marketing measurement stack, we think it's very important to look at the ways in which a bad model can be built—and how to avoid them. These are the 10 most common mistakes we’ve seen when building a media mix modeling for consumer brands: 1. Failing to Validate the Model’s Results If your model doesn’t have a clear way to…
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…