The world of digital marketing is evolving quite a bit. A lot of the old methods for measuring and assessing performance don’t hold as well as they used to. Watch this video to discover how ROI Revolution’s proprietary MMM (media mixed modeling) can help.
Using Media Mix Modeling (MMM) to Gain Advanced Performance Insights
We at ROI Revolution are leaning into a combination of media mix modeling and new analytics and reporting capabilities overall. That’s really important for where the market is headed in the future.
For a lot of brands, channel-level attribution is getting so much harder over time because of changes with technology and cookies.
We’ve found that one of the advantages of media mix modeling is using it as a secondary point of reference along with channel attribution, not in replacement of channel attribution.
Channel attribution is going to tell you how each channel is doing on its own compared to each other. The media mix modeling piece is going to help you optimize for an overall total business result.
It just goes to show that there’s not just one way of measuring that’s important. You need to have different perspectives and depending on your objectives, decide which one works best for you.
We have multiple ways of doing media mix modeling.
There’s simple regression analysis type methods and Shapley value analyses. There’s also more sophisticated Bayesian statistical methods that lend themselves very well to machine learning overall.
A lot of the process is figuring out which one of those methods is right for a given circumstance and employing those.
Underlying all of it is having the right data. Making sure that you’ve got good clean data, that you have comprehensive data is important.
With that data foundation, you can go well beyond just media mix modeling and do more advanced audience discovery and performance analysis. You can blend data from different sources to give a more complete picture of your overall performance.
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Have you ever wondered if your brand is reaching its full potential? It’s time to take your brand where it’s meant to go. To explore the difference that comes with having a guide you can trust, book a meeting with our team today.