MMM (marketing and media mix)

Strategies for Managing Internal and External Relationships

On April 7, the Women in Analytics Group held a mentoring meet-up about strategies for managing internal and external relationships. Ramla Jarrar, Founder & CEO of Mass Analytics and Therese Glennon, VP at Bristol Myers Squibb, shared best practices for building and maintaining relationships in-person and remotely. After the mini talks, each speaker met with half of the attendees and then switched groups to meet with the other half of the attendees.

Validation of Performance Measurement Models

On October 19, 2022, the ARF Cross-Platform Measurement Council brought together a panel of performance marketing experts to discuss the importance of model validation. Attendees gained a greater understanding of why it’s important, all the ways it can be done, the various types of validation methods, as well as how to implement the results. Jim Spaeth (Partner, Sequent Partners) moderated an insightful discussion with experts Ron Berman (Assistant Professor of Marketing, Wharton Business School), Elea Feit (Associate Dean of Research and Associate Professor of Marketing, Drexel University’s LeBow College of Business), and Sachin Puri (Chief Marketing Officer, WP Engine).

Evidence-Based Research for Effective Marketing

On November 9, 2022, industry leaders joined us to share highlights from EffWorks Global 2022 — a week-long celebration of the best new thinking and evidence-based decision-making research for marketing effectiveness. Topics of discussion included: marketing in the post-Covid economy, effective advertising in unprecedented times, the value of Share of Voice/Share of Attention/Share of Search in terms of effectiveness and commercial decision making, and more.

Day 4 Panel Discussion & Closing Remarks

Maggie Zhang of NBC Universal invited all the presenters back to a wrap-up session called “Attribution Pivot,” where she asked what challenges marketers are facing and how they are meeting them. Each provided insight into important attribution challenges that they as a marketer or their client is facing. Limitations include lacking the ability to do A/B testing, privacy issues and the looming issue of cookie depreciation. It is also difficult to determine long-term lift, such as lifetime value.

Tackling the Challenges of Local OTT Attribution

Stu Schwartzapfel of iSpot.tv and Traci Will of Gamut talked about dealing with the challenges of local OTT attribution. While national brands have been a fixture on streaming platforms for a while now, smaller and local brands are just beginning to dip their toes into this space. Industry challenges include a lack of standardization of measurement, a national versus a local focus and careless measurement which can have confusing results.

Panel Discussion

Carl Mela (Duke University) helmed a panel of the day’s presenters to further review the “vanguard work of MMM in 2022.” Granularity inspired the most debate among the panelists, with other topics including causality, cadence of modeling vs. decision-making, false trust in priors, marketing mix model (MMM)’s worst mistakes and lack of precision, and methods for long-term ROI and branding meriting discussion.

How Cox Communications Leveraged Next Generation Measurement to Drive Organizational Change and Prepare for Uncertainty

Analytic Partners’ Trent Huxley interviewed client Mallory Fetters of Cox Communications on the telecom’s marketing measurement strategy. Dealing with constantly evolving challenges, both common and specific to its industry, Mallory expanded on how data deprecation, shifting consumer media behaviors, demand for faster speeds and growing consumer choice and competition rapidly accelerated Cox’s learning curve.

Optimizing TV Promotion with Data, a Case Study with Warner Bros. Discovery

Warner Brothers Discovery (WBD) worked with Civis Analytics (CA) to optimize their TV programming promotions over 30 U.S. networks that premieres dozens of seasons annually across a diverse linear TV portfolio. Max Schuman explained how CA’s approach blended classic marketing mix model (MMM)’s regression models with machine learning’s (ML) ability to discern relationships that best predict outcomes humans can’t see easily. With a custom model that was able to guide decision-making on several levels—what TV series to promote, how and where to market, and what ROI to expect—WBD used CA’s platform as a starting point for all media decisions throughout the full funnel, inclusive of owned and paid media.

Navigating Through Uncertainty with Next-Gen Marketing Mix

Greg Dolan (Keen Decision Systems) and Mark Bennet (Johnsonville Milwaukee) examined how to navigate in uncertain and volatile times in the current marketplace using next-generation marketing mix solutions. In the opening, Greg explored the progression of marketing from the late 90s, through what he dubbed “The Roaring 20s.” He noted that we went from a minimally complex, slower-paced “top-down” approach in the 1990s to a very fast-paced, complex environment with a shift to Retail Media and a unified approach where we apply next-generation predictive analytics in the 2020s. Greg discussed the intricacies of their approach of combining historical data with predictive/prescriptive plans to address drastic changes in the current environment, leveraging ML. He provided a case study that demonstrated the successful application of the next-generation marketing mix. In addition, Mark gave a client perspective on how they are handling market uncertainty.

Harnessing the Full Potential of Marketing Mix Models: How Attention, Creative and Audience Personalization can Drive ROI

Sameer Kothari (PepsiCo) and Todd Kirk (Middlegame Marketing Sciences) examined the application of a transformed rendition of marketing mix modeling created through the development of a proprietary system called the “ROI Engine.” Sameer indicated the desire to harness the “true potential of marketing mix models even beyond measuring past campaigns and using it for strategic planning looking forward.” Sameer discussed this system as having a more “predictive ROI outcome-based approach” by “leveraging an ecosystem of leading indicators for before and during a campaign flight.”