Unit 7 | Marketing & Media Mix Modeling

Introduction

So you're ready to take the next step in your marketing planning process and actually use algorithms and scientific models to predict future outcomes? You're a badass, and we're super excited you've reached this capability. 

To equip marketers with data-modeled, predicted outcomes to help plan a successful marketing campaign. 

What to Expect

We'll need to have a few calls to get the information needed in order to get this dashboard up and running. The steps in this Unit include:

  1. Introductory Call
  2. Solution Strategy Call
  3. Regroup on Implementation Status (if needed)
  4. ChannelMix Team Presents Dashboards
  5. Present the Dashboard Back to Us

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Timeline

The set up time for this dashboard will take between 2-3 weeks. 

Introductory Call

We'll bring in our Account Director and Client Success Manager to discuss current processes in place on how you plan your marketing campaigns, and how a Marketing & Media Mix Modeling could help make better decisions within that planning process. ChannelMix customers use this dashboard to help make decisions on how to budget the next quarter, campaign, etc. and how to distribute that budget among marketing channels.

To further understand the Marketing & Media Mix Modeling dashboard and the models, we've put together a Marketing & Media Mix Modeling - Directory article to point you to additional articles to dive in more. 

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Solution Strategy Call

The purpose of this call is to further dive into requirements to understand what variables should be ran through the data-model, based on what you care for and what to optimize on the most. 

Below is a typical agenda:

  1. Choosing the right Target Metrics - the target metrics are typically the top KPIs within your Cross Channel Paid Media Summary, Marketing Lead Pipeline Dashboard, or Marketing to Sales Pipeline Dashboard
  2. Identify connected data - Our models run best when we have a substantial amount of data points within the ChannelMix database. We suggest at least 18 months of data to train the model on seasonality and other important metrics. 

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Regroup on Implementation Status

If needed, our Implementation team will reach out more additional requirements that would warrant another 30 minute call or just a quick check in on our progress and a sneak peek at what insights we have gleaned from seeing the results from the data model. 

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ChannelMix Team Presents Dashboards

Your Client Success Manager will walk through the Marketing & Media Mix Modeling Dashboard to illustrate the 39 optimal scenarios based on your data and what outputs would be best.

We'll then go into validation and how our model rank against previous months to help instill confidence in the model.

To help understand the both the Optimization Summary and Validation Summary dashboards a bit further, refer to Marketing & Media Mix Model - Glossary of Terms

 

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Present the Dashboard Back to Us

Let us know how you're using the dashboard! What interesting insights have you seen since using the dashboard? What are some decisions you were able to make in planning your next campaign? Any and all feedback is gold here. We love this stuff and would love to nerd out with you!

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