Understanding Marketing Mix Modeling
We have seen a continuous change in consumer behavior in these fast-changing times. Yet marketers still have to make the right decisions when it comes to marketing investments in unpredictable situations. In order to make the right decisions, there is a renewed recognition of the importance of accurately and sustainably measuring marketing activities. MMM is an ideal solution that can be used continuously to help your business in these challenging times.
Why Implement MMM now?
Gain a Holistic View of Marketing Performance
MMM covers the impact of all of your marketing tactics holistically, including TV, print, online video, digital display, social, search, trade, in-store promotion, as well as the impact from external factors like COVID-19, temperature, holidays, and competition in order to have a comprehensive understanding of your sales drivers.
Gain the Benefits of Comparable Metrics:
It is difficult to compare different measurements with different metrics, such as conversion rates or target reach among different marketing activities. MMM allows you to compare each marketing activity in apple-to-apple by calculating marketing ROI, and helps you to find out which media/campaign is driving your brand sales better. With value-based marketing ROI, you can allocate your budget more efficiently.
Future-Proof Your Solutions
In the age of “cookie-less world” with privacy regulations such as General Data Protection Regulation (GDPR), marketers need to find sustainable solutions for measuring marketing activities.