Especially considering the fact that a journey to the customer increasingly takes place with zero-clicks & dark social . Marketing Mix Model – the next step A Marketing Mix Model is an econometric model, based on multilinear regression, that helps quantify the impact of different marketing communications, channels and non-marketing communications on sales (or other business goals). Simply put: an MMM is a model that gives you a lot of insight into the effectiveness of your marketing. Per channel, per expression, offline and online, winter or summer and despite price changes.
Marketing Mix Model gives
You an overview source: alphaspirit.it / Shutterstock What data does an MMM use? Almost all MMM asian phone numbers aggregated data. By aggregating data you stay away from individual data. Because of that aggregation, MMM can take into account a wide range of channels and external influences. The following data points are often (and not exclusively) used when building an MMM: Digital media, such as social media and banner advertisements.
Concrete examples are data on reach
Frequency and clicks; Traditional media, such as television, out-of-home and radio; Business Korean phone number list that can impact conversions. Consider stock levels or staff availability; Market forces, such as the relative price of a product compared to the competition; External factors, such as weather, seasonality or economic conditions (e.g. inflation and consumer confidence). As you can see, an MMM takes into account many factors that influence the business objectives (sales). What does a Marketing Mix Model deliver? An MMM therefore gives you insight into how much each marketing expression and channel contributes to sales and how much investment is required per marketing expression and channel.
