It is important that you compare apples with apples. Especially if you also use indirect channels, such as TV advertisements, you will have to take this into account in the model. Large amount of data is needed source: Gorodenkoff / Shutterstock Open source or closed source Marketing Mix Model? The big tech guys have different Marketing Mix Models you can use. For example, Meta has a model called Robyn , which is supported with AI/ML. Google also followed suit at the beginning of March with the Meridian model . Both models are open source and use data libraries from their parent companies. The great thing about these models is that they are adaptable to the wishes of the organization and its goals.
Although this is the biggest advantage
Adapting and maintaining it also requires a lot of specialist knowledge from a data nigeria cell phone numbers Not every organization has that knowledge in-house or available. The closed source models from various suppliers are more accessible. These solutions often come with implementation support, specialist knowledge and maintenance. An MMM is far from plug & play , but a solution from a supplier makes it easier to start with an MMM.
In the long term you can see it as
A disadvantage that the knowledge is not built up internally and that there are limitations in terms of adaptability. Who is the best player? Back to the marketing team Ukraine phone number list the introduction. The key question is still: which player is the most important? An MMM gives you insight and helps you formulate a data-driven answer. You are able to map out exactly to what extent email marketing contributes to success, just like SEO. and you have insight into how success is achieved and which players play together. It is valuable and extremely important to take the team to the next level.
