By: Matt Hardwick, Associate Director, Analytics
The Myth: Marketing Mix Modeling (MMM) delivers results late, and better late than never.
The Reality: Results that are delivered too late leave money on the table that you can’t get back.
MMM is touted as a gold standard in measuring paid media performance. Models have high accuracy, are privacy compliant, and can provide scenario planning for the future. MMM is great at answering “how did my campaign perform last year?”
But MMM is slow. Results are available usually semi-annually or quarterly at best. So it can’t answer “how did my campaign perform in the last month or the last week?” If it can’t tell you that, it certainly can’t tell you how to make shifts and changes throughout the campaign to maximize results. And MMM is expensive. It tells you the ROI of your media investment, but what about the ROI of your model investment? If a substantial amount of the value of measurement is to inform course corrections in-flight, and we think it is, that value is left unrealized and you’re left asking yourself, is this worth the cost.
Picture a world where you know how effectively your paid media efforts drive sales before your campaign concludes. Imagine knowing the relative efficiencies of all your media strategies in-flight, optimizing towards your best tactics and driving incremental sales week in and week out throughout the campaign.
That world actually exists, at Ars X Machina we built it. We’ve made it possible to measure full-funnel, omni-channel results in real-time with Agile Mix Modeling™. We’ve rebuilt MMM without any of its traditional downsides. So why settle for waiting to learn how your campaign performed six months after it ended when you could know immediately. And act.
The truth is, traditional MMM is already outdated. Stay agile, and optimize your media today.
#DataVsDogma
#MarketingMeasurement #Incrementality #MMM #AnalyticsLeadership #MediaPerformance #ArsXMachina #StayAgile
