Why are simple explanations always the best?
Turns out… it’s the best way to build your foundation of understanding and knowledge.
The remarkable thing about AdTech, Digital Marketing and Measurement: We love long explanations with a heavy dose of acronyms. (yawn!!)
A Marketing Mix Model (MMM) tells you what percentage of your budget to allocate into specific channels (TV, Radio, Direct Mail, Digital, etc.)
With MMM, there’s no ‘feedback’ telling you how each channel is performing towards you hitting your numbers.
Multi-Touch Attribution tells you how to allocate within those specific channels at the most granular level (think keyword), updates on a near real-time basis and in many cases is now completely replacing a Marketing Mix Model.
Later in the podcast, Sima and Jeff discuss the convergence of Multi-Touch & Marketing Mix.
- Marketing Mix = Planning
- Multi-Touch Attribution = Optimization + Planning