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Marketing Mix Modeling is Ready to Fill the Gaps in the Attribution Landscape
Marketing Mix Modeling (MMM) has some history. It’s been used by companies in CPG and consumer goods verticals for decades and was, before the digital age, one of the few tools available for holistic marketing measurement with financial guidance. Attribution modeling, on the other hand, sprang up with the advent of the internet and digital marketing. It has been the preferred technique for digital-first verticals such as e-commerce where most or all of the customer journey takes place online. Through cookies, the IDFA, pixel tracking and other user-level tools, it was able to provide a very granular view of which marketing channels delivered the most conversion, across the final steps of the purchase journey anyways. MMM and attribution have co-existed, though the choice of which tool to use for marketing measurement was primarily a question of the industry you were in, which drove the data you had to work with and most likely your firm’s familiarity and acceptance for either MMM or MTA tools.
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