Improving Market Mix Models for Better Forecasts
At our recent event, presenters focused on the limits of marketing mix models (MMM), as well as solutions to overcome their limitations to improve forecasts.
modelling
- Research & Data Quality
- Article
Advertising Effectiveness: Performance Measurement in the New World of Privacy and Tools
On July 26, measurement practitioners discussed how to adapt to this new era of privacy with tools for measuring ad performance effectiveness. Panelists explored new considerations for existing methods, such as marketing mix modeling (MMMs) and multi-touch attribution (MTAs), and discussed the pros and cons of various privacy enhancing technologies (PETs), including multi-party computation, clean rooms, and more.
Member Only AccessSummer Reading and Listening Suggestions
Marketing Books – Summer Reading Suggestions Read more »
- Past Event Highlights
- Article
How Businesses Can Get Better Visibility into the Near and Long-Term Future
Managing business risk involves having a rational, data-driven view of the future while simultaneously being as prepared as possible for external shocks — from a global pandemic and the ensuing supply-chain disruptions, to inflation, data signal losses, war, and great power competition. At our annual Forecasting event, held virtually on July 18, leading experts shared how businesses can adapt forecasting techniques to manage risk.
Member Only AccessMeasurement & Currency Priorities
In a presentation on today’s measurement challenges, Jon Watts, CIMM’s Managing Director, called for industry collaboration to improve OTA and Local measurement. Read more »
Welcome to the Attention Dimension: Fundamentals of Attention Metrics for Media
The speaker, Marc Guldimann, founder of Parsec Media and co-founder Adelaide, is also a co-founder of The Attention Council. In his presentation he explained why he and the Council are promoting the use of attention metrics to help advertisers place ads into media environments that drive superior performance.
Modelling Short & Long Term Marketing Effects in the Consumer Purchase Journey
This presentation is based on the latest IJRM publication focusing on short and long-term effects in the consumer purchase journey, focused on two key issues facing marketing response modelling. Peter explained that the standard marketing mix model (MMM) fails to resolve two key issues: it ignores inherent selection bias of online media and the true mechanics of brand-building. Both issues result in significant mis-estimation of ROI and incorrect marketing resource allocation.
MODERATED TRACK DISCUSSIONS: Cross-Platform: Measurement & Identity
During the discussion, Duane Varan (MediaScience) and Steve Bellman (MediaScience & Ehrenberg-Bass Institute) discussed the metrics they used, the implications of their research for media planning, and the results of their research in the U.S. Sean Pinkney (Comscore) talked about the lessons he had taken away from his analysis of missing data.
Forecasting Outcomes for Optimized Impact in a Time of Uncertainty
Mark Wilson, Associate VP at Analytic Partners, advocated the value of scenario planning for businesses. Scenario planning is particularly helpful for new product launches, forecasting the impact of price increases, and budget planning. The keys to their success are that they be data-driven, collaborative across functional teams, ongoing, and iterative, with continuous updating of inputs. A successful scenario planning framework defines success criteria, identifies performance drivers — both controllable and non-controllable — and incorporates critical business dynamics. Marketing drives 15% to 30% of sales, more for some businesses, and companies that adopt data-driven simulations can drive much more growth than companies that do not.
Concurrent Track Panel Discussions: NEW METHODS TO VALIDATE AUDIENCE ESTIMATES
This live panel featured the presenters from the New Methods to Validate Audience Estimates track, with moderator Megan Margraff of Oracle following up on key points involving alternate data currencies, data harmonization and normalization, fragmentation challenges and advanced targeting in TV and CPG.