One of the ever-present problems with marketing mix modeling is that you always have to choose some start date. And since you always need to choose a start date, there’s always some period before the start date that’s impacting your results. Here’s how Recast handles these carry-over effects.
Now that digital tracking is breaking and brands are using alternative measurement methods, we will see much more “triangulation” and combining them to get closer to the ground truth. One great example of this we’re seeing gain a lot of traction is integrating geo-testing and marketing mix modeling. Geo-lift tests …
How Geo-Testing Enhances Marketing Mix Modeling Accuracy Read More »
If you’re considering working with a marketing mix modeling vendor, you’ve probably heard of Google’s open-source MMM tool, Lightweight MMM, Meta’s Robyn MMM, and our very own MMM platform here at Recast. Now, we know that choosing an MMM is a complex decision that has many variables you have to …
If you’re doing media mix modeling in-house or through a vendor, being thoughtful about interaction effects will be key to making your model work. For context, interaction effects in marketing are when the performance of one channel (or, in general, our marketing effectiveness) is influenced by another variable (a different …
If a tree falls in a forest and no one is around to hear it, does it really make a sound? If someone runs a marketing mix model but no one actually uses the results, is it really an MMM at all? Model validation is one of the most important …
Dynamic Spend Deployment and Forecast Checking: How to Validate your MMM Through Use Read More »
We hate when people say that statistical modeling is more art than science. It’s generally what someone says right before they are about to do some very very poor science. A good marketing mix model should be all science: as modelers, it’s our job to deeply understand and communicate the …
How To Do Stability & Robustness Checks for Marketing Mix Models (MMM) Read More »
Statistical modeling is hard. There are millions of ways for the model to go wrong and only one way for it to go right. How do we know if the model we’re using is appropriate for the question we’re trying to answer? How do we validate it if the ground …
Unlock Accurate Statistical Models with Parameter Recovery Read More »
Last updated: March 11, 2024 Google’s Meridian MMM platform was just announced last week and is currently in closed beta and so here at Recast we have not had access to the actual modeling package. As we get more updates on the package (including access to source code) we will …
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 …
Is it possible to have a multi-channel, multi-market campaign and still get actionable insight from your media mix modeling on channel efficacy? Or does a brand have to temper go-to-market speed + aggressiveness to best set the table for long-term insight? Our co-founder Michael just got this great question last …
Does marketing mix modeling (MMM) work for multi-channel, multi-market campaigns? Read More »
