In today’s rapidly evolving retail environment, it can be a real challenge for omnichannel brands to measure the incremental impact of their marketing efforts. The modern customer journey spans multiple touchpoints — a consumer might browse for a product category online, see a TV ad, get driven to an owned/D2C …
How Omnichannel Brands Leverage Marketing Mix Modeling (MMM) Read More »
Disclaimer: This blog post was written by an external contributor about approaches for measuring new marketing channels with marketing mix modeling. The approach laid out in this document is not reflective of how Recast approaches modeling new channels. The actual model specification can be found in the technical model specification. …
Why Marketing Mix Modeling doesn’t work for new channels (and how to fix it) Read More »
Scenario planning or demand forecasting decides everything an enterprise does. Right from quantities of raw material sourced to the inventory that needs to be stocked, through to shipping, packaging, hiring, and all the way down to purchasing office supplies — everything is dependent on accurate forecasting and scenario planning. Forecasting …
Most small e-commerce brands probably don’t need anything more complicated than digital tracking tools for measuring marketing performance. But when the channel mix gets more complex and their marketing grows, digital tracking is simply not enough. After $100k+ / month in paid media budget, it’s a good time to start …
From Digital Tracking To MMM: How Brands Scale Through Marketing Experimentation Read More »
Marketers hate planning season. It can often feel like an impossible task: you’re being asked to predict the future in an industry where consumer sentiment (not to mention channel performance) can change suddenly and where multi-touch attribution tools (MTA) can’t be used for reliable predictions. Over the last few years …
If you want your company to start using MMM, you’ll have to get buy-in from your finance and your executive team, but it’s always hard to change the status quo within an organization. This can be a real problem – especially if your executive and finance team is currently only …
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 »
What channels drove our revenue last week? What happens if we 2x our spend on Meta? What happens if we pull all our budget on brand search? When will we hit diminishing returns on paid search? What should we project for next quarter? Where should our budget for next year …
Integrating Marketing Mix Modeling Into Your Decision-Making Process Read More »
One of the hardest things to do is get buy in from the finance team when requesting marketing budgets. This is a time consuming, difficult challenge, and how well you do determines a lot of the future success you’ll find in your role. One of the ways in which this …
Setting Realistic Expectations Between Marketing and Finance Read More »
