Many marketers have been turning to experiments to help them get a true read on incrementality for their marketing channels. However, it’s important to be aware that there’s a hierarchy of the evidence you get from different types of experiments. Classifying Experiments: The Three Tiers We think about three different …
Not All Experiments Are Created Equally: Navigating the hierarchy of evidence Read More »
When we talk to folks who are new to Media Mix Modeling (MMM) and tell them there’s no pixel or digital tracking involved, it can be a surprise and they want to learn how the methodology works without tracking. The idea of tracking people as well as possible has become …
Brands have been using models to understand the effectiveness of their marketing activities since the ‘Golden Era’ of advertising in the 1960s. However, as our history of Econometrics details, the dawn of the internet era and digital marketing in the early 2000s moved Marketing Mix Modeling (MMM) out of the …
Many people want to know what the long-term effects of their marketing are. The theory is that advertising today may boost brand awareness which might have long-term positive impacts for the business. Often, they want to know how Recast thinks about these long-term impacts. Unfortunately, we believe that it is …
Why “Brand Effects” are so difficult to measure in MMM Read More »
Marketers are often very focused on the future as their jobs rely on anticipating and meeting the needs of consumers in a rapidly changing market environment. However, to understand the future, it is crucial to look to the past. This post will focus on understanding the history of econometrics to …
Disclaimer: This blog post was written by an external contributor about techniques for validating marketing mix models using cross-validation. The approach laid out in this document is not reflective of how Recast approaches model validation. The actual model specification can be found in the technical model specification. You’ve spent countless …
The right way to cross-validate your Marketing Mix Model Read More »
You can boost revenue by scientifically optimizing your marketing spend. What could go wrong? Statistical mistakes could de-optimize your marketing spend. It will seem very “scientific” while you are doing it. You will feel very good about it until senior management notices the drop in sales – and subjects you …
How confounding variables and company silos can ruin your analysis Read More »
We made this template because honestly it’s a lot of work to do MMM manually if you don’t have the benefit of reusable code or software, and yet nothing beats the humble spreadsheet for developing an intuition for how these things work. We made it free because too many people …
Brand vs. Performance marketing has been a growing battle online since digital advertising grew to be the dominant share of ad spend. Our belief at Recast is that it’s not Brand versus Performance, but that it’s more of a Brand-Performance spectrum, with some channels and campaigns having a longer term …
Measuring the Long Term Effects of Brand with MMM Read More »
The team at Meta did another Marketing Mix Modeling summit last week, and given the popularity of the last one we covered, we thought we’d do it again. This summit covered a lot of familiar themes – e.g. the loss of tracking from iOS14 – but with a particular focus …
