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Are you a Lord of the Rings fan? Well, in any case we are! In the saga, there are ancient stones called “Palantir”, which enable the users of the stone to see anywahere in the world. You touch the stone, close your eyes, and you can roam the surrounding environment and observe its events. It’s like a crystal ball that shows you EVERYTHING (with some limitations).
Are you a Lord of the Rings fan? Well, in any case we are! In the saga, there are ancient stones called “Palantir”, which enable the users of the stone to see anywahere in the world. You touch the stone, close your eyes, and you can roam the surrounding environment and observe its events. It’s like a crystal ball that shows you EVERYTHING (with some limitations).
Performance marketing teams, if you haven’t yet embraced Marketing Mix Modeling (MMM), it’s definitely time to reconsider! MMM used to be a high-level tool relevant only in the annual planning process for getting recommendations on high-level media budget allocations. However, today's MMMs can serve tactical use-cases as well, making them relevant for performance marketing professionals. Modern MMM solutions offer campaign-level ROI tracking for e-commerce, DTC brands, and performance marketing teams.
Marketing Mix Modeling has advanced significantly over the last years. But many still have outdated beliefs about MMM, based on what MMM was 5-10 years ago. In this article and in our recent social media commentary (such as this post ), we want to update general understanding about MMMs.
Marketing Mix Modeling, or MMM, is becoming the go-to tool for more and more companies looking to optimize their marketing efforts. It's a method that uses statistical analysis to figure out how marketing investments contribute to sales.
Marketing Mix Models (MMM) helps marketing teams understand marketing’s incrementality and evaluate effectiveness of marketing activities across media and campaigns. It enables marketing teams to allocate their marketing budget to the highest ROI activities, which ultimately should lead to more sales and profits for the company.