Marketing Mix Modeling (MMM) is hard. The core difficulty is that MMM is trying to solve a causal inference problem where there is no ground truth to compare the model results with. There is no ground truth source that can tell us what the true incrementality of TV is as an advertising channel. That means …
At Recast we believe that in order for our customers to get value out of Recast, the model needs to be correct. That is, it needs to give valid, actionable inferences that our customers can use to drive bottom-line improvements in their business. In order to get to a correct model, we have a white-glove …
One of the biggest misconceptions holding back marketers to day is the myth of the brand–performance marketing dichotomy. Many newer brands go through the same cycle: This is, unfortunately, a recipe for wasting millions of dollars in useless marketing spend. Every dollar of marketing spend should have a goal and therefore every dollar should be …
At Recast, we often speak with practitioners who are trying to build their own MMM in-house. While we think there are great reasons to use a tool like Recast instead of building in-house, many people want to try it themselves before committing to working with a partner. In this post, I’ll lay out the check-list …
Marketing mix modeling is hard. Trust us. When we were starting Recast, we thought it’d be easy: we’d use some off-the-shelf Bayesian time-series models and six months later we’d have a top-shelf model. But unfortunately, it didn’t work like that. It took us multiple years of PhD-level research time to get to a model that …
The Attribution Stack was featured in our post on Reforge: “The Attribution Stack: How to Make Budget Decisions in a Post-iOS14 World“ We’re in the media measurement space, so our inboxes and dm’s are full with requests for help navigating the murky world of marketing attribution (especially since iOS14). Every vendor promises a ‘single source …
Nearly every business has an annual cycle: seasons where the business waxes or wanes, or specific dates like Cyber Monday, Memorial Day, or Mother’s Day, which see enormous spikes in sales. Imagine you have a business that sells hot wings — when do you think the busiest time of the year would be? Football season …
You’re probably modeling seasonality the wrong way Read More »
Marketing Measurement with Recast One of the first things people generally want to know about Recast is how it compares with their other media measurement systems. Generally, the clients we work with have set up an attribution system and have run a few lift tests, and perhaps their data science team has built, or their …
Marketing Mix Modeling (sometimes known as Media Mix Modeling, or simply MMM) has been rising rapidly in popularity in the last few years as marketers who have come to rely on digital-tracking methods like multi-touch attribution are grappling with the implications of reduced ability to track people across the internet due to regulations like GDPR …
