The only Marketing Mix Modeling Software embedded in an MRM
THE ONLY MRM NATIVE ON SALESFORCE
THE ONLY MRM WITH AUTOMATED MMM ANALYTICS
Proof brings you the Marketing Mix Modeling Software you've been asking for.
Listen to top marketers talk about why Proof is so important
Marketing Mix Modeling Software
Marketing mix modeling software, often shortened to MMM software, enables companies to better optimize their marketing investments. It uses statistical analysis tools to forecast the impact of different marketing strategies on the success of marketing programs and business operations as a whole. MMM pulls various aspects of marketing together in a single platform for easier viewing. This allows users to make connections between events and determine how to best structure their marketing strategies going forward. While many MMM products use traditional on-premise software licensing, others like Proof MMM offer SaaS-based subscription models where users only pay for what they use.
MMM software has become widely-used thanks to its holistic approach to marketing strategy. It helps users determine the most effective tactics for their organization, equipping them with the tools they need to achieve greater success with their marketing efforts. Some software even allows users to simulate tactics and scenarios prior to deployment in the real world. More and more companies are utilizing MMM software and strategies to transform their marketing programs and reach higher goals. Rather than relying on irrelevant, inaccurate, or incomplete data, they can access the information they need in one simple solution.
Marketing mix modeling vendors like Proof Analytics have packaged MMM into an easy-to-use SaaS solution that gives users unlimited modeling. Proof offers automated analytics on a monthly contract basis, allowing for greater freedom and flexibility. What’s more, with guided implementation, you can save money and get things up and running on your own with little to no hassle. Proof syncs users’ Salesforce data to the Salesforce Campaign Object and is even set to integrate with Slack in late 2022. With Proof, you can get more out of your marketing program, gain deeper insights into your performance, develop new tactics, and improve upon your existing ones.
What is Marketing Mix Modeling
So what is marketing mix modeling? MMM is a methodology designed to help users identify their top-performing marketing campaigns and tactics. Marketing mix modeling techniques and challenges have to do with size, price, and talent. In the past, only large enterprises could afford to use this model, but today, thanks to the advent of software such as that offered by Proof Analytics, MMM has become widely used by a variety of companies. Instead of hiring a data scientist to work in-house, you can subscribe to an MMM software platform to access the tools and resources you need to improve your marketing campaigns.
Traditionally, MMM has been offered as custom-developed software that was updated infrequently, if at all. Vendors like Proof provide modern tools and updated techniques for providing the best possible marketing analytics. Proof’s full lifecycle system includes several different features that can aid in the development of marketing strategies and better equip users to tackle the challenges that come their way. With MMM software, you can organize and streamline your operations for maximum efficiency, which can ultimately lead to greater business success, both now and in the future.
Marketing Mix Modeling Example
A marketing mix modeling example is when a marketing leader uses MMM to identify the relative strength of each of their tactics and media channels to understand their effect on a business outcome like sales. It further enables the marketer to predict how reallocating their investment mix across these channels will yield better results. By viewing an MMM example, particularly a market mix modeling example with data, you can better understand the impact of MMM on marketing programs and businesses in general. There’s no doubt that getting started with an MMM strategy can be tricky, but seeing the tools and strategies that others have successfully implemented can set you up for success within your own organization.
Another advantage to studying an MMM example is that you can learn what not to do when planning your marketing campaigns. You can see what other organizations have struggled with and what they advise other businesses against. Learning as much as possible about MMM before incorporating it into your business operations can ensure greater success and enable you to get more out of the tools and resources that are available to you. While each MMM strategy is unique, there are some common best practices that are good to follow, and MMM examples can give you a better idea of what these look like.
Data science marketing mix modeling is an attribution technique that, unlike multi-touch or last-touch attribution, focuses on overall optimization as opposed to looking at a single isolated incident. MMM attribution aims to optimize marketing at a higher level, operating more broadly and going beyond the digital realm. Viewing your marketing data in a silo can cause you to overlook critical growth opportunities, which is why so many organizations are turning to MMM to get a more holistic understanding of their strategies.
Using the MMM attribution technique, you can gain deeper insights into your processes and determine how to improve your efforts going forward. Rather than focusing on one aspect of your marketing program, you can see how different events impact one another and ultimately help—or hinder—your operations. By optimizing your marketing strategy, you can promote greater business growth overall and work towards simplifying your workflows and boosting your ROI. Utilizing the wrong strategy can end up costing your business in the long run, so optimizing your strategy is critical to the success of your organization.
Automated Marketing Mix Modeling
Automated marketing mix modeling yields quick results. With an automated MMM platform, you can get fast results and make decisions without having to sit around waiting for the next update. This can be extremely convenient for those that require immediate results. Instead of having to do everything manually, they can automate part or all of their process in order to produce instant results. This is key to both developing a successful marketing campaign and successfully executing that campaign. You can see right away what’s working well and what isn’t and make changes as necessary.
In the past, MMM models were updated once or twice a year, but platforms like Proof have worked to change that. Proof is an automated MMM, meaning that users can update their models quickly at the cadence of their measurements. Unlike traditional models, Proof’s software allows for speed and scalability, allowing users to keep pace with their evolving workloads. This makes it much easier for them to obtain and interpret results. They can then incorporate those results into their marketing strategies to achieve greater success with their initiatives.
Marketing Mix Modeling Optimization
Marketing mix modeling optimization is the process of identifying the key drivers of your desired business outcomes. A marketing optimization model is a set of equations that looks at decision drivers. If you change your business drivers, the model will calculate the business effect of the new mix. This is a quick, convenient way to gain deeper insight into the various factors that impact business outcomes. With MMM optimization, you can improve your marketing strategy and start utilizing the tools and tactics that actually work rather than relying on outdated models that haven’t been updated in a long time or are otherwise ineffective for your particular needs.
Finding the MMM optimization strategy that’s right for your business is crucial to attaining higher levels of success. Implementing a failed strategy or one that’s incompatible with your organizational needs can spell trouble for your operations and put you in an even worse place than you were before, which is why it’s so important to determine the right model or strategy for your particular organization. While optimization can take some time to figure out, it can ultimately enable you to get through your workflows quicker on a day-to-day basis and make more informed decisions about where to take your marketing efforts for a better ROI.
Marketing Mix Modeling Case Study
A marketing mix modeling case study shows how MMM improves marketing performance. Considering better performance equals increased sales, it’s important for businesses to view case studies to see exactly how MMM has benefited other organizations and learn more about the pitfalls they may have encountered and how to avoid them within their own organization. Marketing mix modeling step-by-step helps marketers identify key drivers and time lag so that they can build a model to determine the best ROI for their marketing portfolios.
Viewing a marketing mix modeling case study is a great way to learn more about MMM before actually implementing it in your own marketing program. It can also help you obtain buy-in from leadership. By demonstrating the positive impacts of MMM on marketing, you can show the rest of your team how MMM software can create greater efficiencies in their workflow and allow them to scale back on tactics or activities that are failing to yield desired results. MMM is key to optimizing your marketing program and achieving greater business success, and a marketing mix modeling case study can show you how the process works and how you can get started with the model in your own marketing program.
“No other analytics software delivers the easy affordability, scalable accuracy, perpetual updates & intuitive ease of understanding that Proof gives analysts, marketers & business leaders. We see Proof as the missing piece.”
“Proof MRM on Salesforce™ has completely changed the game for marketers.”
“The value of data is only realized when you apply analytics to uncover the insights that improve your effectiveness. Proof is a gamechanger in this respect.”
“Proof has delivered a powerful suite of self-serve MRM and MMM analytics that enable full-scale campaign planning, budgeting, digital asset management, collaboration, compliance and approvals, and Marketing Mix Modeling — all on the Salesforce platform and all at a price that makes it impossible for marketing teams to not say Yes to.”
“Marketing consumes a lot of a company's cash. In B2B, it can take months to see a return. Marketers have a real responsibility to every other part of the business who also wanted that budget money; not just to make it count but to prove that they made it count.”
“For years, marketers and business leaders have struggled to work as #OneTeam. It’s one of the longest-lasting feuds in the business world. Proof MRM on Salesforce solves this longstanding problem by delivering a best-in-class MRM platform native on Salesforce, coupled with accurate, easily understood Marketing Mix Modeling analytics.”
“Rooted in more than a decade of award-winning work, Proof Analytics is a transformative software solution that proves the business impact of marketing and communications. Proof has been recognized by industry analysts, customers and business leaders for its innovation and technical excellence. Really well done.”