How does MMM take into consideration longer buying cycles in B2B? How does investment in brand today correlate to some future time a prospective customer may buy when there is urgency? Thx!
This is a smart question When there are high lag effects between spend and conversion, we would need to change the adstock transformation to one that takes into account the lag effect One you can use is called “weibull adstock” With that we can model the delayed/lag effect over time of our campaigns and accurately account for long sales cycle in B2B Weibull adstock is really difficult to use it in excel, I suggest to use either Cassandra or Robyn to model your media mix if that is the scenario
I am currently learning about MMM at the moment for my job and I appreciate it so much about how easily you explain the process! Thank you so much for uploading this on TH-cam!!
A question here, do you include any non paid traffic, like direct traffic to the site and sales from direct traffic into the model? How would one include 'direct traffic' sales (perhaps as base sales), and then paid media sales in the model? What would that data file look like
Definitely, you can click to this link: docs.google.com/spreadsheets/d/1FjXCiEI1yXUA825rkt-Hg_9Ry_dcI1YrkmxLYSJBhT0/edit#gid=1685467303 and copy the file to work on it Happy modeling mate
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How does MMM take into consideration longer buying cycles in B2B? How does investment in brand today correlate to some future time a prospective customer may buy when there is urgency? Thx!
This is a smart question
When there are high lag effects between spend and conversion, we would need to change the adstock transformation to one that takes into account the lag effect
One you can use is called “weibull adstock”
With that we can model the delayed/lag effect over time of our campaigns and accurately account for long sales cycle in B2B
Weibull adstock is really difficult to use it in excel, I suggest to use either Cassandra or Robyn to model your media mix if that is the scenario
I am currently learning about MMM at the moment for my job and I appreciate it so much about how easily you explain the process! Thank you so much for uploading this on TH-cam!!
every upward spike of radio has a downward spike of fb at the same time, that's why radio seems so ineffective.
this is very good thanks brother
I love you form Egypt
A question here, do you include any non paid traffic, like direct traffic to the site and sales from direct traffic into the model? How would one include 'direct traffic' sales (perhaps as base sales), and then paid media sales in the model? What would that data file look like
Interesting. I'm using the same data as you but getting different correlation factors (FB=0.798 TV=0.396 Radio=0.139)
May I have the excel files you were working with?
Definitely, you can click to this link: docs.google.com/spreadsheets/d/1FjXCiEI1yXUA825rkt-Hg_9Ry_dcI1YrkmxLYSJBhT0/edit#gid=1685467303
and copy the file to work on it
Happy modeling mate