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 »
In the marketing world, there are four main ways to measure marketing effectiveness. Each of these approaches have their strengths and weaknesses, and all have their place in a modern measurement system. Below, we take on each of them in turn, and then summarize how we think they should fit …
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 …
In the context of marketing measurement, marketing analysts and marketing scientists use the term “incrementality” to refer to causality. Incrementality is about measuring what actions would not have happened without a specific marketing intervention. For example if I spend money advertising my product, I need to know how many people …
Introduction Note: this post was developed in partnership with Mike Taylor over at Vexpower where they’re working to educate marketers on how to do effective media mix modeling. This post gets a bit into the weeds, so if you want a more straightforward overview, definitely go check out the companion post over there. Bayesian …
