Marketing Mix Modeling (MMM): An interview with Bertrand Brisou, Director, Data & Analytics at Artefact

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Bertrand Brisou joined Artefact in 2020 and holds a Bachelor of Business Administration from ESSEC Business School. At Artefact, Bertrand works on data analytics and data consulting projects at scale. He has broad experience in data strategy and operations for global brands across multiple industries. He oversees Artefact's offerings (marketing mix modeling, marketing ROI, data-driven attribution, incrementality testing).?

Bertrand met recently with Emmanuel Malherbe, ML Research Scientist and Director of the Artefact Research Center, to discuss his work as leader and coordinator of Artefact’s global marketing and measurement initiatives.

In this video, Bertrand delves into the following topics:

• What is marketing measurement? What are the challenges facing it?
• What are the methods of marketing measurement? What is each method used for?
• What are the challenges when dealing with online and offline marketing channels?
• How can companies strengthen their marketing measurement in 2024?

Watch the video

Listen to the podcast

What is MMM? What are its challenges? How can businesses benefit?

Bertrand defined MMM as “the art of measuring the impact of marketing channels on the business and the art of optimizing the marketing channel to maximize business outcomes that are generated from marketing initiatives.”

Managing marketing measurement among multiple channels can be challenging, explains Bertrand. “You have what we call media drivers, including offline media like TV, radio and print, as well as online or digital media such as paid search, social media, display and so on, as well all the non-media drivers and marketing activities like products, pricing, promotions, distributions.”

As a result, there are strategic business issues to address, including measuring the impact of all these marketing channel activities, both online and offline. There are also operational concerns, such as determining the optimal settings for specific marketing campaigns, targeting the right audience, and crafting effective messages.?

How can companies best address these issues? Bertrand explores three methods: marketing mix modeling, incrementality testing, and digital attribution, and explains how they can be combined to tackle different business problems.

1) Marketing Mix Modeling (MMM): statistical analysis that helps predict the impact of marketing drivers on your business:

• Understanding the importance of media, price & promos, seasonality, competitors, etc.
• Defining investment needed to achieve business goals
• Allocating budget across media/geo/brand

2) Incrementality: testing of new channels and markets through structured experimentation for true channel and tactic performance lift:

• Measuring incremental causal impact from marketing tactics (e.g., channels, budgets, audiences, creative types, etc.)
• Calibrating attribution and MMM models

3) Attribution: fast-moving, data-driven attribution from platforms to optimize campaigns down to the most granular level in real time:

• Understanding the role of each touchpoint in the consumer journey
• Identifying the best digital activities to increase performance
• Optimizing ongoing media activation in real time

Watch Bertrand's video (or listen to the podcast) to learn more about marketing measurement methods and gain insights into how companies can strengthen their marketing strategy in 2024.

To know more about our Artefcat’s MROI Offer (Marketing ROI), please visit our website: https://www.artefact.com/data-marketing/marketing-roi/

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