Media mix modeling powered by machine learning.
What is MMM Plus?
Traditional MMM uses an outdated, one-size-fits-all linear regression approach.
MMM Plus is the only solution that uses machine learning to generate bespoke models specific to your business to monitor the interactions between your marketing channels.
These models recommend optimal budget allocations across your marketing channels, giving you the power to forecast marketing-attributed revenue.
This is MMM for the modern marketer.
This 3D rendering of MMM Plus data allows users to visually interpret the interaction that multiple marketing channels has on new customer acquisition.
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What is media mix modeling?
Known colloquially as "MMM," media mix modeling is a statistical analysis technique developed in the 1970s to help businesses answer two questions about their marketing budgets:
1. What is my optimal marketing spend?
2. How should my spend be divided across channels? (e.g. 10% of spend on TV, 20% on radio, etc.)
In the 50 years since it’s invention, MMM has helped companies interpret correlations between their marketing spend, their marketing channels, and their marketing-attributed revenue.
However, most MMMs operate within 20th-century constraints. Many require decades of revenue data, while others are heavily weighted towards mediums like television.
Recent privacy laws and algorithm-driven social media feeds have inspired brands to advertise differently. Brands with innovative advertising channel mixes are challenging the efficacy of outdated MMM techniques.
As a leader in the marketing attribution space, Northbeam has witnessed firsthand the limitations of traditional MMM. Which is why we built a bespoke MMM solution for the post-iOS-14.5 ecommerce era.
Why is MMM Plus better than traditional MMM?
Innovative machine learning.
Our machine learning models run millions of budget scenarios, assuring that no opportunity or nuance is missed.
Multiple allocation outputs.
Get multiple budget recommendations based on multiple potential channel strategies, instead of just one cookie-cutter allocation.
Tailor-made for ecommerce.
MMM Plus is specifically designed to navigate the complexities and interactions of both the offline and online world. MMM Plus is made for modern marketers.
Flexibility beyond Bayesian.
MMM Plus operates without the biases or assumptions seen in conventional MMM, allowing you to adjust constraints to fit your business.
Guided data science support.
Our team of data scientists and expert media buyers work with you directly to translate your MMM results into actionable budget allocation suggestions.
Marketing doesn't happen in silos. MMM Plus understands how increasing or decreasing budget for one channel impacts the efficiency of another channel.