One of the fundamental question that you as a client should be asking an MMM vendor is – “Which technique do you employ to build MMM ? Frequentist or Bayesian”. Many vendors (predominantly inclined to Bayesian methods) would often try to dissuade you from going in that direction. Their usual ploy would be to say […]
Bayesian MMM vs Frequentist MMM – Key Comparisons Read More »
Marketing Mix Modeling > Media Mix Modeling In a recent client pitch meeting, a client asked us what is the difference between Media Mix and Marketing Mix Modeling. Quite clearly, the client was confused because some vendors market their services as Media Mix Modeling instead of Marketing Mix Modeling. So, is this just a word
Marketing Mix Modeling > Media Mix Modeling Read More »
Weekly MMMs? Some prospective clients ask us: ● How frequently should they update their MMM models? ● Is a weekly cadence ok? Well it depends. There are business reasons as well as technical. 📈 Business reason: Whether weekly MMM is ideal depends on the industry. If you are a digital focused brand with high frequency
A lot of D2C brands often want to benchmark their marketing effectiveness against other D2C players, disregarding the product category. While a similar marketing effectiveness strategy could work for fast moving goods, the same cannot be applied to D2C brands with longer sales cycles – like furniture or electrical appliances. I have seen some brands
Short term sales activation vs brand building measures? Read More »
Many had written off MMM (Marketing Mix Models) not so long ago. But like a phoenix, MMM keeps rising from the ashes.🔥 Thanks to: GDPR, Apple 14 privacy, Google’s cookie deprecation and ever growing pressure on marketing departments to justify their budget allocation, MMM is back to life again. 🚀 But how can we prevent
Preventing MMM’s Death (Again) Read More »
How to get the maximum out of open source MMM libraries. (Hint: talk to MMM experts) Of late we are getting lot of calls from prospective clients for MMM adoption. Most of them have tried or are trying open-source MMM libraries. But here are some of the pestering questions clients have: · How do we
How to get the maximum out of open source MMM libraries Read More »
In late 2018, We explored the option of VC funding. Some of the VCs asked us why we focused on Marketing Mix Modeling solutions. We told them at that time that MMM will be a sought after solution not only in FMCG/CPG space but in other domains as well. Call it a hunch or educated
Why I am bullish on Marketing Mix Modeling MMM Read More »
Mathematically Optimal Solution ≠ Optimal Marketing Solution One of the important use cases of Marketing Mix Modeling (MMM) is the Marketing Budget Optimization. The results of MMM are directly leveraged to provide various ‘What-if’ budget allocation scenarios. Such as: ▪️ Under the same budget, how could we have allocated the spends across media differently to
Mathematically Optimal Solution ≠ Optimal Marketing Solution Read More »
As MMM is gaining acceptance in newer domains, most prospective clients ask the following questions. ▪ Why should we update MMM models? ▪ How often should we update them? 📌 Why should you update MMM model? To explain this, I normally use the analogy of movie making. A movie is a series of snapshots put
Why should you update your MMM model? and How often should you update them? Read More »
1. Spends are more actionable and transactional, as you can measure direct impact on sales. Spends data directly reflects the financial investment in marketing (your CFO would be happy 😅). 2. Spends are more accurate than impressions. 3. Cross-Channel Comparisons – Spend data enables easier comparisons between different marketing channels or campaigns in terms of
MMM pro tip: Use spends instead of Impressions in your model Read More »
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