What We Learnt From Building A Marketing Mix Measurement Team
Realtime Agency has always been transparent in pulling back the curtain on our tips and tricks for efficient digital ads. We believe the success of one is the success of many, so in that spirit I wanted to share some of what I’ve learned building a Marketing Mix Modelling team over the past couple of years for Realtime Agency.
Understanding Marketing Mix Modelling can be challenging, but it’s in my opinion one of the key disciplines to understand to be a successful digital marketer. Here are some key takeaways from my experience:
Expertise is Essential
Building a successful MMM team requires recruiting individuals with deep expertise in analytics, statistics, and marketing. MMM software absolutely needs to be run by a team that has experience across these three sectors – otherwise, you run a high risk of collecting too little or incorrect data to feed into the model, or extracting inaccurate or incomplete learnings. As a company, we highly value this team’s skills and knowledge, and we respect that these individuals are vital to creating accurate models that can drive data-driven decision-making for our clients.
A Fresh Perspective
While in-platform attribution is still incredibly useful for day-to-day optimizations, it can be refreshing to step outside of the small-scale insights and look at campaigns from a wider vantage point. Our MMM team has helped us uncover hidden insights and uncover opportunities that would otherwise be visible to our team, leading to improved strategies and results.
Calibration with Experimentation
It’s important to remember that Marketing Mix Models show correlation, not causation. That’s why it’s imperative that we calibrate all results with subsequent celled experimentation. Our MMM team does not optimize until the models’ findings are validating, and by being less ‘reactive’, we’re able to lead our clients towards more accurate insights and more robust strategies.
Honesty and Letdowns
True testing is unbiased, and sometimes, the models don’t tell us what we want to see. Therefore, it’s crucial that we embrace honesty and be prepared for the potential of unexpected results. By acknowledging setbacks, we gain the opportunity to learn, adapt, and refine our marketing strategies for future success.
With all of the hard work above, there is one thing that makes it all worth it: our clients’ happiness. Being able to deliver concrete insights and boost performance for our clients is an invaluable feeling, and seeing the positive response (and results!) has only validated that all the hard work put into building an MMM team is, in fact, worth it.
As a company, we’re beyond excited for the future of data-driven marketing. Cheers to the incredible journey of building a Marketing Mix Modeling team!
If you’re interested in learning more about our MMM team check out our services page. Alternatively get in touch by pressing ‘Get In Touch’ below.