Promoted feature: The future is modelled
Rory Donegan and Dave O’Riordan outline the shift to more in-depth tools for modelling marketing performance
Why now and what’s changing?
Marketing Mix Modelling– an old tool for a modelled future
What does MMM do well and how is it currently used?
How can we make sure that all channels show up?
- Usually, the bigger the investment, the easier it is to ‘pick up’ in a model. This is a half-truth. Investment level definitely matters, but so does performance and impact on conversions. A combination of both is usually required to be able to capture accurately in a model. As a rule of thumb, your investment on a channel should be a minimum of 2% if you’d like it measured.
- Traditional media has always been measured this way. These teams are involved in the MMM planning conversation, leveraging the technique from the outset to answer questions they have. These channels therefore garner the most attention and focus of modellers.