February 16, 2022
Rah, rah, sis-boom-bah. M! M! M!
Media mix modeling (MMM) definitely has its cheerleaders among the marketing set. At the same time, it has undergone some criticism in recent years among branding advocates. But MMM and brand health can coexist with some strategic planning.
At its heart, MMM tends to focus on completed sales. Consequently, mid-level and upper-funnel media such as linear TV, over the top (OTT), and online video tend to get the short end of the budgeting stick after MMM models are run. However, MMM doesn’t have to snub upper-funnel dynamics. With a sufficiently flexible modeling framework in place, MMM can absorb and leverage all the signals that lead toward conversions.
Though many marketing teams have heard about MMM, they may not be certain how to implement it. If you’re interested in peppering your company’s or product’s MMM with historic brand-related data to glean more accurate budgeting recommendations, you can start with these specific actions:
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