What does the optimal use of a channel look like? What is the impact if the investment in marketing decreases (or increases) by 20%? How much influence does a channel have on sales/conversion? What is the best way to divide my budget across different channels? The model also includes non-marketing communications. These are influences such as season, promotions and price. You can say that a Marketing Mix Model gives you a helicopter view of your entire marketing.
It is a rock-solid solution to give you real insights that you can use
A well-designed and powered MMM is able to provide good phone numbers in guatemala of the impact of your marketing. Ideal for scenario planning, building a solid marketing strategy and budgeting. A Marketing Mix Model for every marketing department and CMO? Although an MMM sounds like the holy grail for marketing departments and CMOs, there are important considerations.
This is how you need data
Lots of data over a longer period. And good quality data. Most Marketing Mix Models, both open Thailand phone number list and closed source, require at least 2 years of good quality data to be able to predict. bringing together consistent data is difficult, especially over a long period of time. Channels such as Google Ads, Meta Ads and TikTok generate a lot of data at a high speed, such as reach, frequency and clicks. There are many data points that need to be formatted for the MMM and from which you need to select the correct, relevant variables.
