Marketing mix modeling or MMM is seeing a renaissance, over 60 years since it came into common use. Unlike most marketing attribution methods, MMM doesn’t require user-level data, instead of modeling what channels deserve credit for sales by statistically mapping spikes and dips in spend to actions and events in your marketing channels. Upgrading from simple linear regression to techniques like ridge regression or Bayesian methods, marketing mix modeling is being reinvented for the modern age. Want to learn more about MMM? Read the pros and cons about marketing mix modeling vs. attribution modeling.
Marketing & Sales
How Self-Service Analytics Leads to Digital Maturity
“Give a child a fish, and you feed them for a day. Teach them how to fish, and you feed them for a lifetime.” This nugget of wisdom may have had a wildly different application in the past, but the adage holds incredibly well when talking about how organizations share knowledge today. Think of it as a vast body of water, where every fish is a valuable resource waiting to be pulled from the depths for the whole village to be fed. In the same way, businesses today sit on vast data lakes consisting of all their digital properties, and yet, there’s only a few villagers fishing for valuable insights that are so readily available to them. What if every villager knew how to fish?
6 Analytical Skills Marketers Need and How to Improve Them
If you've ever tried to solve a Rubix Cube, you've put your analytical skills to the test. Making the colors match up requires problem-solving, logical reasoning, and pattern recognition.
Conversion Rate Optimization for B2B
When compared to a typical B2C business, the sales cycle in B2B means that users will be visiting your site multiple times throughout their sales cycle before making a final purchase. To encourage conversion, you need to be reaching them at each different stage in their journey.
Marketing Analytics: Attribution Is Not Incrementality
One of the business side effects of the pandemic is that it has put a very sharp light on Marketing budgets. This is a very good thing under all circumstances, but particularly beneficial in times when most companies are not doing so well financially. There is a sharper focus on Revenue/Profit. From there, it is […]
A Step-by-Step Strategy for B2B Pillar Pages
A great way for B2B companies to fill a top-of-funnel content gap is by creating pillar pages. To help get you started, guest host Carly Schoonhoven of Obility walks you through a simple strategy for implementing pillar pages on your website.
Avoid These 10 Data Storytelling Mistakes That Undermine Your Expertise
Avoid 10 data storytelling mistakes and try these tips instead to better communicate digital marketing performance — good and bad. The post Avoid These 10 Data Storytelling Mistakes That Undermine Your Expertise appeared first on Search Engine Journal.
How to Choose the Right CRM System
Choosing the right CRM system will give your business a clear view of your customer's journey from prospect to sales, customer support, and even retention.
The Ultimate Guide to Creating a Pitch Deck (with Examples and a Free Template!)
As an agency, one of the most important resources you will need to create and develop is your pitch deck. It is one of the last steps in the funnel for converting your leads into clients, which, in turn, allows you to grow your business – a major problem for 47% of marketing agencies. It makes sense, then, to ensure that your pitch deck covers all bases and seals the deal. After all, nobody wants to go into a potential client meeting unprepared and underwhelm their audience.
The Best KPIs for Marketing Agencies to Track in 2021
We‘ve put together this comprehensive list of all the best marketing KPIs to track in 2021. Make sure you‘re using the best and most relevant marketing metrics.
What Is Attribution Modeling and Why It’s So Important
As a marketer, you know how many avenues there are for your prospects and customers to interact with you throughout the buyer’s journey. These avenues refer to channels (e.g. PPC, your website, email campaigns, social media) and touchpoints (e.g. specific ads, blog posts, social media posts, emails). Marketing attribution modeling can help you determine the impact of all of those marketing efforts.
The Complete Guide to Lifecycle Marketing
Savvy marketers know it's rare to reel in customers at the first encounter with a brand. Winning people over takes time, thoughtful touchpoints, and a whole lot of trust. Fortunately, there's a strategy that includes all of these and more. It's called lifecycle marketing, and it's how companies attract and retain customers beyond that impulse purchase.
How to Use Data as a Service (DaaS) Tools in Your Marketing Analysis
Data as a service (DaaS) is becoming increasingly popular. New advancements in cloud computing technology have made remote, cloud-based data storage and management easier to use and more accessible. Businesses using DaaS platforms can see improvements in data collection, usage, and management. Additionally, offloading data management to DaaS companies means more internal capacity for business […]
Marketing Analytics Visualization — WordCloud
WordCloud displays the most frequent words used in a text where the size of the text is proportional to the frequency it was used in the text; the larger the font, the more times the word appeared in the document.
How To Design An Annual Report [+ Template & Examples]
An annual report offers a comprehensive overview of your business’s yearly operations. As the content in these reports is heavy-hitting, it’s essential to present it in a way that helps your audience understand and visualize your successes.
Analytics On The Bleeding Edge: Transforming Data’s Influence
Analytics teams are named for the silos and limitations within which they trap themselves. Paid Media. Owned Media. SEO. BI. Customer Service. Data Warehousing. Email. And, a thousand other silos (depending on your company size). One outcome of this reality is that while every team works hard to do their very best work, it is […]
How Much Should Your Marketing Team Budget for 2021? [By Industry]
When I was hired for my first marketing role, I got really excited to pitch new, exciting ideas to my team.
How to load marketing data into a MySQL database with Python
In this guide, I’ll show you how to use the Supermetrics API with Python to query data from marketing and digital advertising platforms (like Facebook, LinkedIn, Twitter, and many more) in JSON format, how to convert that data into a…
25 of the Best Add-On Slack Apps to Make Your Marketing Team More Effective
Just like your favorite iOS apps, software-specific apps can greatly improve our day-to-day work experiences. Slack is one of the most popular channel-based messaging systems on the market, with over 12 million people using the system every day. What’s more, their diverse and ever-growing selection of Slack apps is only improving their service. For marketers, […]
Data Is Great — But It’s Not a Replacement for Talking to Customers
Many companies rely too much on big data and analytics in their hunt for strategic insights. They’d do better if they actually went out and talked to their customers instead, as Toyota and Adobe do, because data is too rooted in what managers already think their..