In today’s digital world, there is a common challenge for advertisers across almost all industries: how to know which marketing activities are actually driving profit and which are wasting spend.
Being a marketer, have you ever asked yourself if you are using marketing mix models and vendors in the right way?
According to Nielsen, there is one way to answer these questions, a measurement approach called marketing mix modeling.
Marketing mix modeling is a way to calculate the total effect that every marketing channel and its key dimensions, such as product and geography, have on sales and other performance metrics while controlling for exogenous factors such as weather and holidays that impact business performance.
Marketing mix modeling is used to support fact-based budget allocation decisions. The insights provided by the model allow companies to divide limited resources as efficiently as possible and with the highest ROI.
If you’re looking forward to calculating the total effect each of your marketing channels has on sales and other performance metrics—and you want to find the right marketing mix model/vendor to help—download this guide.
The Guide also includes: