Can you trust your media mix model? That is an obvious but not asked enough question that everyone using MMM should consider – in-house, with a vendor, it doesn’t matter. As you try and answer it, you’ll run into overfitting, which is one of the biggest problems in MMM. Overfitting …
Evaluating Media Mix Model Accuracy: The CRPS Score in Backtesting Read More »
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, …
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 …
The popularity of Marketing Mix Modeling (sometimes known as Media Mix Modeling, or simply MMM) has increased rapidly over the last few years as marketers – reliant on digital-tracking methods like multi-touch attribution – grapple with the implications of a reduced ability to track people across the internet due to …
Shifting from Legacy to Modern Marketing Mix Modeling Read More »
Nearly every business has an annual cycle: seasons where the business waxes or wanes, or specific dates like Cyber Monday, Memorial Day, or Mother’s Day, which see enormous spikes in sales. Imagine you have a business that sells hot wings — when do you think the busiest time of the …
You’re probably modeling seasonality the wrong way Read More »
Facebook (Meta) bet on Marketing Mix Modeling (MMM) to save their ads business, after Apple’s iOS14 update gave users the right to choose if they’ll accept tracking. Because it uses aggregate data, MMM doesn’t need to invade anyone’s privacy to work, so it’s future-proof to any changes in the rules, …
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, …
Disclaimer: This blog post was written by an external contributor about Google’s open source marketing mix modeling tool LightweightMMM. The approach laid out in this document is not reflective of how Recast approaches marketing mix modeling. The actual model specification can be found in the technical model specification. After Apple’s …
Disclaimer: This blog post was written by an external contributor about approaches for measuring new marketing channels with marketing mix modeling. The approach laid out in this document is not reflective of how Recast approaches modeling new channels. The actual model specification can be found in the technical model specification. …
Why Marketing Mix Modeling doesn’t work for new channels (and how to fix it) Read More »
One of the core problems to solve when doing marketing mix modeling (MMM) is handling how the results from a previous period ‘carry over’ into the next period. In marketing we know that the full effect of advertising isn’t felt on the same day or week in which the campaign …
Adstocks: Accounting for the Lagged Effect of Advertising Read More »
