We live in an omni-channel world, and that has drastically changed the way consumers buy. It’s no longer a linear journey; it’s an intricate web of touch-points across online and offline channels. So it’s no surprise that this interconnectedness means that actions in one channel can ripple across others, sometimes …
It is said that the best product ideas come from having to scratch your itch – from facing a big, challenging problem and urgently needing to find a solution for it. Recast has a similar genesis story. I ran the data science and analytics team at Harry’s, known for its …
The distinction between correlation and causation is a fundamental challenge within MMM, and it has significant implications for the efficacy of your marketing efforts. It is not just about interpreting data correctly; it’s about making sure our budget is not being wasted and misallocated. This article delves deep into why …
The Correlation vs Causation Challenge in Marketing Mix Models Read More
With digital tracking breaking and marketers losing visibility, many are turning to Marketing Mix Modeling (MMM) as an alternative measurement method to multi-touch attribution. And understandably so: it doesn’t rely on tracking people across the Internet, it focuses on finding true incrementality, and it can be very valuable for budget …
3 Key Indicators That Your Company Might Not Be Ready for MMM Read More
For years, third-party cookies have been the backbone of digital tracking, and have enabled advertisers to tailor their strategies based on user behavior across different sites. But things are changing: Google Chrome, used by 63.6 percent of internet users worldwide, has initiated a phase-out of third-party cookies – beginning with …
What channels drove our revenue last week? What happens if we 2x our spend on Meta? What happens if we pull all our budget on brand search? When will we hit diminishing returns on paid search? What should we project for next quarter? Where should our budget for next year …
Integrating Marketing Mix Modeling Into Your Decision-Making Process Read More
The future of marketing measurement goes through understanding how to use multiple methods in conjunction and not in a silo. Consumer brands that follow this premise know that both lift test and marketing mix modeling have to be part of their toolkit. They’re very complementary, and a good marketing mix …
Brands looking for 100% clarity in marketing measurement by using just one method won’t find it. Multi-touch attribution won’t give you that. Conversion lift studies won’t give you that. Even marketing mix modeling, which is what we focus on here at Recast, won’t give you that either. There is not …
You don’t just want an MMM model. You want a model that can be trusted. But since MMM models are really powerful, they can also be subject to overfitting. So, how can we build confidence in the model and the recommendations we’re making to the marketing team? The answer: backtesting …
How to do holdout accuracy and backtesting for your MMM (and why it matters) Read More
“How do we know if the model is right?” That’s one of the most important questions in MMM. Most MMM models are black boxes, but business decisions can’t be based on faith alone. How do you distinguish credible results from vendor promises? How do you actually know if you’ve built …
Why is validation challenging in MMM? What are the different ways to validate? Read More
