Many businesses face tough challenges when it comes to measuring marketing incrementality because the nature of their product implies conversions that happen at multiple stages. Marketing activity drives new users or customers to the first stage, and then some proportion of those customers “convert” into a subsequent stage. This may …
Last updated: August, 2024 At Recast, we hold strong views about the right way to do Media Mix Modeling (MMM) that can be surprising to teams accustomed to outdated methodologies. Specifically, we believe that in order to be valuable, a Media Mix Model must be: This article explains how these …
The popularity of Marketing Mix Modeling (sometimes known as Media Mix Modeling, or simply MMM) has increased rapidly over the last few years as marketers – reliant on digital-tracking methods like multi-touch attribution – grapple with the implications of a reduced ability to track people across the internet due to …
Shifting from Legacy to Modern Marketing Mix Modeling Read More »
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 …
You’re probably modeling seasonality the wrong way Read More »
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, …
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 …
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 …
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 …
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 …
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 …
