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 …
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 »
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 »
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 …
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 »
“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 »
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 »
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 …
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 »
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 »
