Media Mix Modeling (MMM): The Marketing Measurement Answer You've Been Waiting For
If you’ve been watching the ad tracking and cookie demise news over the last two years, you’ll know it is becoming increasingly obvious that ad tracking is becoming more and more difficult, and that older methods for marketing measurement (such as Multi-Touch Attribution) relying on various ad tracking mechanisms are no longer useful. As time treks on, more protocols are being put into place to limit ad tracking (Apple just began to kill off in-app ad tracking with their announcements at this week’s WWDC 2020: https://www.adexchanger.com/privacy/apple-wwdc-2020-a-version-of-intelligent-tracking-prevention-is-coming-to-the-app-world/).
However, user acquisition and measurement of advertising performance remains just as critical to success as it has always been—but the question now is about what form that function takes as measurement strategies shift away from consumer tracking. The answer: Media Mix Modeling (MMM). This type of modeling has been around for decades helping major brands measure large brand campaigns. Now, because of advanced software and automation, any brand can take advantage of this advanced analytic approach—even for mobile and in-app advertising. For more background on MMM and how it works, how effective it can be, and why you should consider it for your own business, we found this recent article in Mobile Dev Memo to be useful and worth a read: https://mobiledevmemo.com/media-mix-models-are-the-future-of-mobile-advertising/