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 »
It is said that the best product ideas come from having to scratch your itch – from facing a big, challenging problem and urgently needing to find a solution for it. Recast has a similar genesis story. I ran the data science and analytics team at Harry’s, known for its
We live in an omni-channel world, and that has drastically changed the way consumers buy. It’s no longer a linear journey; it’s an intricate web of touch-points across online and offline channels. So it’s no surprise that this interconnectedness means that actions in one channel can ripple across others, sometimes
What are Halo Effects and how do they impact MMM? Read More »
There are thousands of non-marketing factors that can make an impact on your company’s base sales. Consumer sentiment, GDP growth, inflation, consumer saving rates, interest rates… we could list dozens and dozens of exogenous factors that can change your base sales. But when it comes to marketing mix modeling, we
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.
Burn In: How Recast Handles Carry-over Effects Read More »
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
Recast vs LightweightMMM vs Robyn Read More »
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
