May 30, 2024: The MMM Gap - How Marketers are Navigating the Shift to Marketing Mix Modeling
How much should you be paying for Marketing Mix Modeling (MMM)? How do you make day-to-day tactical decisions when MMM isn't that granular? Should you go with open source MMM solutions, or stick with a vendor? Join Jim and Simon in this in-depth discussion about the current state and future of Marketing Mix Modeling (MMM).
How much should you be paying for Marketing Mix Modeling (MMM)? How do you make day-to-day tactical decisions when MMM isn't that granular? Should you go with open source MMM solutions, or stick with a vendor? Join Jim and Simon in this in-depth discussion about the current state and future of Marketing Mix Modeling (MMM). They cover the evolution of open-source MMM platforms like Meta's Robyn, Google's Meridian, and PyMC Marketing, and explore their pros and cons. They also discuss the implications of AI-driven ad units and the challenges they pose for measurement.
Links from the show:
- MMM Solution Comparison
- Questions to ask MMM Vendors
- Meta's Robyn
- Google's Meridian
- PyMC Marketing
- Uber's Orbit
- Recast
- PyMC Labs
00:00 Introduction and Greetings 00:44 Discussing the State of MMM 02:02 Exploring MMM Platforms 08:33 Quick Tangent - Baseball and Data Analytics 09:41 Comparing MMM Packages 12:23 Open Source MMM and Future Trends 25:45 The Origin of PyMC Marketing 26:54 Comparing Open Source Options 29:23 The MMM Gap: Challenges and Solutions 31:55 Triangulation and Platform Data 39:53 The Role of AI in Ad Buying 49:50 Future of MMM and Industry Trends
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