💡Modern Marketing Mix Models support tactical ROI optimization as well!
Back in the day, MMM was only able to provide high-level media ROI comparisons, e.g., TV vs Facebook. It was mainly used once a year in annual budget planning.
Today, MMMs can go much deeper. Examples:
👉 Performance marketing teams at ecom companies can use MMM to measure the true ROI of their Ad platform-level campaigns on a daily basis. E.g., "Retargeting campaign X in Facebook".
👉 Omnichannel retailers can use MMM to plan cross-channel marketing campaigns.
What is enabling more granular insights?
- Calibration of MMMs with informative priors
- Combining MMMs and attribution data
- Ease of access to data on digital media
- Developments in basic MMM methods in recent years