New to Marketing Mix Modeling? Here are five must-read articles that we believe will help you understand this measuring method's background.
A new gold standard for digital ad measurement? - Harvard Business Review
It’s true that MMM is not a silver bullet. It can be imprecise and misleading if not calibrated with ad experiments. This HBR article will explain how to use ad experiments to refine your MMM and make better marketing decisions.
The article also covers how to deal with the challenges of privacy advances, how to choose between different models, and how often to calibrate your MMM. It’s based on 18 case studies with app advertisers in North America and Europe, and it provides a rough-and-simple matrix to inform decisions on calibration frequency. It’s a must-read for anyone who wants to thrive in the new digital ad measurement landscape.
Digital attribution is dead! Les Binet tells us why marketers need econometrics in 2023 - The Drum
The Drum interviews Les Binet, group head of effectiveness at Adam&EveDD, - a communication agency, on attribution versus econometrics-based approaches. Binet shares his experience analyzing statistical correlations to understand organic search engine traffic decline. The article highlights the flaws in attribution modeling and its reliance on short-term direct response metrics. Econometrics, through advanced statistical analysis, offers a more comprehensive approach by considering multiple factors that influence sales. The article concludes by discussing the criticisms and potential barriers to the widespread adoption of econometrics in marketing.
A perspective: measurement in the cookie-free world - Accenture
Accenture’s article discusses how upcoming changes to third-party cookies will affect how businesses collect and use data online. Tim Higgins, Customer Insights and Growth Lead of Accenture, also shares how businesses can adapt to these changes and effectively measure marketing performance in a cookie-less world.
3 ways to get more out of marketing mix modeling amid cookie loss & regulatory change - The Drum
The Drum’s listicle suggests 3 ways to help you get the most out of your marketing mix modeling: validating MMM predictions through tests, using simulations and optimization for better marketing plans, and approaching marketing measurement as an ongoing journey. Following these approaches can optimize your campaigns and make more informed budget decisions.
Robyn redefines Marketing Mix Modeling with next-Generation AI technology - Decision Lab
To address MMM integration challenges and bring it to the next level, Meta, formerly Facebook, and Decision Lab, a leading market research company in Vietnam, announced a strategic partnership to bring Robyn, a cutting-edge AI-powered marketing mix modeling solution, to Vietnam. The article introduces Robyn and shows how it will help Vietnamese businesses improve their marketing ROI, also some case studies applying Robyn successfully.