Original LinkedIn post
🧙♂️Palantir of marketing = Media Metrics + Marketing Mix Modeling?
MMM reveals the true ROI of marketing activities. But MMM is not always great at answering the "why"-question. Why is the ROI on the level where it is? What is driving changes in the ROI? This is where media metrics can help! Media metrics are ad platform -reported data which might shed additional light on your MMM results. They should be part of your MMM dashboard.
1️⃣ Media metrics can be organized into a "funnel":
Impressions -> Clicks -> Conversions -> Conversion Value
2️⃣ At each funnel step, you can analyse the ratio from one step to another:
- Click-Through-Rate (Clicks / Impressions)
- Conversions rate (Conversions / Clicks)
- Average Order Value (Conversion value / Conversions).
3️⃣ You can also analyse cost of media along the funnel: CPM, CPC, CPA, ROAS, for example.
Example analyses you might make:
↗️ ROI increase of PMAX campaigns is explained by +15% improvement in average order value
↗️ ROI increase of Bing Shopping campaigns is explained by +20% improvement in conversion rate
↗️ ROI increase of Meta Advantage+ campaigns is explained by +10% improvement in ROAS
↗️ ROI increase of TikTok campaigns is explained by -10% change in cost-per-view
Our CEO, who is a big Lord of the Rings fan, loves to call the combination of MMM and Media Metrics "Palantir" 😄 The combination enables you to see deep into what's happening in your marketing.
Attached picture is an example screenshot from our demo on media metrics.
