Marketing mix modeling is the process of determining marketing spend effectiveness and managing future spending decisions on media and CRM. This process involves working with a combination of ‘offline’ advertising media (e.g. print, TV, radio, outdoor) and attribution modeling for digital advertising.
However, in an increasingly complex advertising environment, the traditional approach suffers from two key shortfalls. First, it is critical to understand the effect online and offline activities have on each other and how they work together; this is something most modeling methods cannot achieve. Second, current techniques for both media mix modeling and digital attribution modeling cannot effectively account for the effect of various external influencers like competitor activity, economic health, or weather due to the limitations of data and modeling constraints.
Gordian Knot Analytics Group, Inc. ATTRIMIX builds an integrated marketing mix model that creates a comprehensive view of the effectiveness of your brand’s advertising activities. ATTRIMIX accounts for offline, digital, and CRM activities, and measures the impact of external influencers. Marketers now can confidently allocate resources to the most effective mix of channels to maximize sales conversions.