MSI Marketing Mix Model Initiative
Charting the Future of Marketing Mix Modeling Best Practices
Firms in today’s data-driven, AI focused world need effective methodologies to identify the impact of their marketing efforts and to determine how to allocate resources across different marketing mix strategies and tactics. Relying on industry averages or past experiences may not leverage the unique situation of your firm.
Unfortunately, data deprecation and privacy changes have made it difficult to capture the data to traditionally assess marketing effectiveness. An increased focus on incrementality, and vendor innovations in attribution modeling have led to a renewed interest in Marketing and Media Mix Models (MMM) to assess marketing effectiveness and allocate resources across the marketing mix.
Within this uncertain MMM world, the MSI MMM Initiative brings together leading academic experts on MMMs, member company advertisers, major data suppliers, and influential MMM vendors to develop an approach to bring scientific standards and certainty to the MMM community.
Phase 1: What is current MMM practice?
(COMPLETED AND AVAILABLE TO MEMBERS)
- Academic and Industry Panel assessment of current practices
- MMM Whitepaper outlining standards and best practices for MMM pipelines
- MMM Whitepaper Statistical Appendix for implementing modeling standards
Phase 2: What makes for a successful MMM?
Take the next step: JOIN THE NEWLY FORMED STANDARDS RESEARCH COMMITTEE TO HELP DEVELOP THE MMM CHECKLIST THAT WILL MAKE YOUR MMM SUCCESSFUL
This will include:
- Academic and Industry Panel assessment of essential MMM pipeline characteristics
- MMM Checklist documenting company practices in MMM pipeline management
- MMM guidelines demonstrating adherence to best practices to ensure accurate results
- MMM Pipeline Benchmark Study identifying the state of MMM across the industry
Phase 3: A process for certifying and validating MMMs
JOIN NOW TO CONTRIBUTE & GAIN VALUABLE INSIGHT!
As the initiative enters PHASE 2, MSI is offering a unique opportunity, as a member in the MMM Standards Research Committee, for direct engagement and involvement in the development of the MMM Checklist with the academic team. Companies who join this leading team of practitioners will have the ability to demonstrate thought leadership within the MMM industry and influence the development of independent MMM standards.
If you would like to join the MSI MMM Initiative or the MMM Standards Research Committee, contact your Member Manager at firstname.lastname@example.org.
If you have additional questions, please contact Keith Smith, MSI Research Director, at email@example.com.