MMM Isn't As Scary As Marketers Think - But You've Got To Do It Right | AdExchanger
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MMM Isn't As Scary As Marketers Think - But You've Got To Do It Right | AdExchanger
"Marketers have a lot of misconceptions about marketing mix modeling (MMM). But it's far less expensive - and easier - to execute than it used to be. Deli meat brand Land O'Frost has been investing in MMM for years, seeking insights into how different cultural trends, campaign strategies and channels impact its KPIs. Historically, it's been challenging to find "solid data points" to prove that certain channels, like paid social and influencer marketing, are driving sales, Land O'Frost COO Saverio Spontella told AdExchanger."
"In late 2022, Land O'Frost partnered with research and analytics consultancy Big Chalk for help improving its approach to MMM and to figure out which opportunities it might have been overlooking - or even inhibiting - by not measuring ROI effectively. The meat of it Before partnering with Big Chalk, Land O'Frost was working with another MMM vendor, but made the switch because the brand wanted to take a nimbler, more streamlined approach to measurement, according to Spontella."
Marketers hold many misconceptions about marketing mix modeling (MMM), though execution has become cheaper and easier. Land O'Frost invested in MMM for years to understand how cultural trends, campaign strategies, and channels affect KPIs. The brand struggled to find solid data proving channels like paid social and influencer marketing drove sales, relying instead on metrics such as impressions, CPMs, and engagement. In late 2022, Land O'Frost partnered with Big Chalk to improve MMM and uncover overlooked or inhibited opportunities caused by poor ROI measurement. MMM models estimate sales volume attributable to specific tactics and help justify marketing spend to stakeholders.
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