As more marketing teams understand the need to add new measurement methods beyond digital tracking, we expect more and more emphasis on MMM and experiments. Experiments and MMM can be very complimentary – but they have to be done well. One of the challenges with both methods is that they’re …
Introducing Media Mix Modeling (MMM) into your organization is a decision that requires careful consideration and due diligence. MMM is hard, and it’s worse to do it badly than to not do it at all. If you’re starting to consider how to do MMM, you might be thinking about whether …
9 Questions to Ask Your MMM Vendor (or Internal Marketing Science Team) Read More
If you want your company to start using MMM, you’ll have to get buy-in from your finance and your executive team, but it’s always hard to change the status quo within an organization. This can be a real problem – especially if your executive and finance team is currently only …
Marketing Mix Models (MMM) are very complex, and the choice of the parameters your data scientists choose can really influence the results you will get. If the model allows for your analyst to guess, check, and set parameters until things look right to them, there’s a high chance the end …
How to reduce bias in your marketing mix modeling (MMM) with better parameter settings Read More
MMM is hard enough — but it’s just impossible if you don’t have the right data. Getting good, clean, and ideally automated data is critical to run a really good model because, without it, your model will take so much longer to set up and train – and it won’t …
What Data is Needed for Marketing Mix Modeling (MMM)? Read More
Marketers hate planning season. It can often feel like an impossible task: you’re being asked to predict the future in an industry where consumer sentiment (not to mention channel performance) can change suddenly and where multi-touch attribution tools (MTA) can’t be used for reliable predictions. Over the last few years …
People who have been around the world of marketing mix modeling (MMM) for a while are often shocked that Recast is designed to be refreshed on a weekly cadence. “How are you able to do in a week what it takes many other vendors months to do?” they might ask. …
MMM is hard – we totally get that, but there are common mistakes made by consultants in the MMM space that need addressing. Here’s 10 of them: 1 – Focusing on the in-sample R-squared metric for MMM models. The standard definition of R-squared is “the amount of variation in the …
Most small e-commerce brands probably don’t need anything more complicated than digital tracking tools for measuring marketing performance. But when the channel mix gets more complex and their marketing grows, digital tracking is simply not enough. After $100k+ / month in paid media budget, it’s a good time to start …
From Digital Tracking To MMM: How Brands Scale Through Marketing Experimentation Read More
When we talk to consumer brands about MMM, the concerns about its capabilities are sometimes slightly outdated. MMM has historical roots that trace back to the ‘Golden Era’ of the 1960s when big CPG companies pioneered the use of models to evaluate the impact of their ad campaigns. This methodology …
