Marketing Mix Modeling (MMM) decomposes sales into two main components: baseline sales (from factors like seasonality, brand awareness and brand loyalty), and incremental sales influenced by online and offline marketing activity. In recent years, attribution modeling has been widely adopted within online channels, but true MMM is still an aspirational goal for many brands. This presentation will look at true MMM, which attributes sales impact not only from online, but also from offline channels, such as radio, television, print and OOH. You will see a case study from an $800 million online fashion retailer, which highlights how a non-technical marketing head can successfully lead a highly-technical MMM project.
You will leave this webinar knowing:
- What is Marketing Mix Modeling and what kinds of business questions does it answer?
- If you decide to do MMM, what questions should you ask the modeler?
- What results should you expect to see, and how would you use the outputs?
- Key pitfalls to avoid with marketing mix and attribution models.
- Attendees will also receive the MMM Playbook, which is a step-by-step guide for running an MMM project.
A PhD in Information from the University of Michigan, Tapan Khopkar leads an Advanced Analytics practice, including Marketing Mix Modelling. He has extensive knowledge of statistical modelling, machine learning and AI and has been instrumental in developing analytical frameworks and techniques at Cartesian Consulting, a global analytics service provider with 150 data scientists, focused on customer marketing and business analytics. Tapan has several publications in international journals, and regularly participates in research and industry conferences.
Jim Griffin is the Americas Director of Cartesian Consulting. He has twenty years of analytics, CRM, and loyalty experience in multiple markets, including USA, Latin America and Asia. Jim holds an MBA from the Carlson School of Business, and went on to do post-graduate study in statistics. He is also a faculty member with the International Institute of Digital Marketing (IIDM). A dynamic speaker, Jim was United States national debate champion in college, and has been published in Vital Speeches of the Day.