Facebook’s Tony Evans considers how Media Mix Modelling should be reinvented to reflect today’s marketing priorities.
Media Mix Modelling (or MMM) was first developed back in the 1970s to measure the impact of offline media such as TV, radio and press advertising. A lot has changed since then, including a plethora of digital platforms and higher expectations from CMOs toward actionability and accountability from advertising strategies. MMM can solve that, but only for those who change the way it is done.
There are people who would have you believe that marketing has changed since the internet came along. There are new tools and techniques for reaching audiences, for sure, but the very core remains the same: getting the right message to the right person at the right time in as cost-effective manner as possible.