Abstract:
Optimising marketing investments to drive sales and ROI is always at the top of any marketing department?s agenda. To achieve maximum effects, marketers need to make the right decisions on how much and where to invest, who to target and when. There is a multitude of data-driven tools to support these decisions, including marketing mix modelling (MMM) and multitouch attribution models, and decision-makers need to learn how to balance the strengths and weaknesses of each methodology. As a traditionally top-level strategic tool for cross-media planning and budgeting, MMMs are often seen as less useful as a tactical, day-to-day tool compared with attribution models. However, as regulators enforce stricter privacy laws, we have now entered their golden age. Conventional attribution methods are dying out and marketers are increasingly turning to MMM to analyse the efficiency of their strategies. Meta and Nepa are joining forces to bridge the gap between strategic and tactical decision-making using this solution. In this paper, we will show how they can be enhanced to provide tactical insights, such as timings, that traditional models miss.
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