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 »
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 …
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 …
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 …
When we talk to consumer brands about MMM, the concerns about its capabilities are sometimes slightly outdated.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 …
With digital tracking breaking, consumer brands that relied on multi-touch attribution are now looking for alternatives to measure marketing effectiveness. The two methods that comply with privacy regulations and can help get closer to true incrementality are marketing mix modeling (MMM) and conversion lift studies (CSL). Quick context on both: …
Recast’s MMM uses Bayesian statistics, but why doesn’t everyone else? We asked this to Recast’s co-founder Michael Kaminsky, and the rest of this article covers what he answered: “When I started my career as an econometrician, I was pretty comfortable with the frequentist methods that people who did a technical …
The central modeling challenge for an MMM is the following: given any set of marketing inputs (budget decisions, promotion dates, new product launches, etc.) to be able to accurately predict what our customer’s performance will be. But, how do we judge our model’s ability to meet this challenge? How do …
Marketers are in a tough spot when it comes to measurement: iOS14 made everyone conservative about tracking, performance marketers are nervous to test less measurable channels, and all their attribution methods disagree, with no single source of truth. If there’s one thing we want to achieve at Recast is to …
The 4 phases in the marketing measurement journey: Read More »
Quite often we encounter people who have been working with legacy MMM vendors for 15+ years who are shocked when we tell them that Recast is designed to refresh the MMM model every week. While some people see the obvious value in always having the most up-to-date data to work …
