The central modeling challenge for an MMM is the following: given any set of marketing inputs (budget decisions, promotion dates, new product launches, etc.) to be able to accurately predict what our customer’s performance will be. But, how do we judge our model’s ability to meet this challenge? How do we know if it’s doing …
People often ask us about the differences between Recast’s next-generation MMM platform and Google’s open source MMM tool, Lightweight MMM. In this blog post we do a compare-and-contrast between these tools – we’re obviously biased but will do our best to lay out the pros and cons of each tool as we see them. There …
Quite often we encounter people who have been working with legacy MMM vendors for 15+ years who are shocked when we tell them that Recast is designed to refresh the MMM model every week. While some people see the obvious value in always having the most up-to-date data to work with, others want to know …
There are three main ways that consumer brands measure marketing effectiveness: digital tracking (MTA), marketing mix modeling (MMM), and testing/conversion lift studies (CLS). For the last few years, we’ve lived in a world where most consumer brands didn’t have to think too much about this – they got away with using multi-touch attribution, and it …
Top consumer brands don’t pick one measurement method: they triangulate. Read More »
Marketers are in a tough spot when it comes to measurement: iOS14 made everyone conservative about tracking, performance marketers are nervous to test less measurable channels, and all their attribution methods disagree, with no single source of truth. If there’s one thing we want to achieve at Recast is to get marketers at modern consumer …
The 4 phases in the marketing measurement journey: Read More »
With digital tracking breaking and privacy concerns on the rise, more consumer brands are looking for alternatives to multi-touch attribution. While MTA is still the standard measurement method, especially in the early growth stages, marketing mix modeling is quickly growing in usage across top brands because it only needs aggregate data and therefore doesn’t have …
Brand new channels can be very difficult to measure out of the gate, so it’s important to be thoughtful about your goals and your measurement strategy. Many brands want to slowly scale up a channel as they learn how it works. This is a practical approach, but it makes measuring true incrementality a challenging process. …
Many marketers have been turning to experiments to help them get a true read on incrementality for their marketing channels. However, it’s important to be aware that there’s a hierarchy of the evidence you get from different types of experiments. Classifying Experiments: The Three Tiers We think about three different types of experiments: Individual-Level Randomized …
Not All Experiments Are Created Equally: Navigating the hierarchy of evidence Read More »
People often ask us about the differences between Recast’s next-generation MMM platform and Facebook’s open source MMM tool, Robyn. In this blog post we do a compare-and-contrast between these tools – we’re obviously biased but will do our best to lay out the pros and cons of each tool as we see them. There are …
Multicollinearity is one of the hardest problems in marketing analytics. If you took a statistics course in undergrad, you might have covered it; it describes a phenomenon where two or more variables in a model are correlated. Let’s bring it to marketing to make it more tangible. Imagine we’re trying to analyze the impact of …
How D2C Brands Can Deal with Multicollinearity in their Marketing Mix Modeling Read More »
