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Data Science
Towards Data Science·8d ago·5 min read
How Wrong Is Your Marketing Mix Model (MMM)?
TL;DR
Marketing Mix Models (MMM) can be inaccurate due to insufficient data on spending patterns. This article explores whether adjusting the timing of marketing spend can enhance model accuracy.
✦ Why It Matters
Consider revising your marketing spend schedule to improve the accuracy of your MMM.
Key Takeaways
- Evaluate your current MMM for accuracy based on historical data.
- Experiment with different timing strategies for marketing expenditures.
- Analyze consumer behavior to inform spending schedules.
- Monitor the impact of timing changes on marketing effectiveness.
How It Works
The article proposes that by shifting the timing of marketing spend, businesses can better align their strategies with consumer purchasing patterns. This approach allows for a more dynamic response to market conditions, potentially leading to improved sales outcomes.