This article describes how incrementality measurements can help build your Marketing Mix Model
As different measurement approaches are used differently, each can answer different questions, based on their capabilities and measurement timeframe. Below is a quick comparison between the types of channels, lags, methodology, and other features for incrementality measurements, Last Touch, and Marketing Mix Modeling.
The different attribution and measurement methodologies provide different answers for various marketing use-cases:
Incrementality can measure the additional value generated from your changes in your campaigns and marketing activities, therefore - Can help you answer strategic questions from an MMM point of view.
The different questions revolve around the effectiveness of your channels, pricing, products, and promotions. Calculating the additional value of those can help you decide which ones should be increased, and which ones should be closed.
- Measuring all activities on a single channel or campaign, and seeing their impact on incrementality one by one, can give you a macro image on this channel’s performances, and understand whether it’s worth investing in.
- Measuring the impact of seasonal sales, product launches, or in-app events by manually adding them to your dashboard, can help you understand which in-app events generate more revenue or user engagement. You can also measure the impact of product launches, after they took place.
- Measuring activities and understand how the creative changes you’ve applied have impacted your performance
- Understand how to balance your investment and revenue
- Allocate your budget between your channels better
- And many many more…