Accelerate Your MMM: The Blueprint for Reducing Marketing Mix Modelling Turnaround Time
Here at Linea, we deliver Marketing Mix Modelling in days, not months. I am surprised that many providers deliver MMM outputs 2-3 months after the end of the month or quarter.
At this speed, insights are delayed, and the scope of business questions you answer is reduced. No point making in-campaign recommendations if the campaign is already finished. This means increasing the speed of turnaround maximises the amount of value you can take from your MMM.
How do you speed up your MMM turnaround time?
➡️It’s the data, stupid
This is often the bulk of the time delay. ~80% of the data you use in an MMM can be streamlined through API connections. That’s your sales data, pricing performance, marketing, and seasonality. Do it.
That leaves the messy 20%. Often it's the things that fall in the cracks: partnerships, influencer activity, promotions. Getting structured data and building automated transformations is what makes the biggest difference.
➡️Operational flow
There are 4 phases to a typical MMM project: Data ➡️ Modelling➡️Reporting➡️Insight.
The flow between your data warehouse, modelling infrastructure & reporting suite needs to be seamless. No more Excel files, please.
For the Robyn or Meridian users out there, having the right infrastructure in the data warehouse & reporting is what will increase your speed of turnaround.
➡️That model shouldn’t run overnight
If it does, then focus the time on speeding up the process. The default model in Meridian will run in an hour, but do you need the split by Geo, the daily update or the time varying base? Maybe you do. Or maybe it could run in sub 2 mins.
➡️Does anyone enjoy your 90-page report?
Yes, it's maybe what was needed 10 years ago, and I have built a few of these in my life. In our experience, brands' marketing & finance teams want three things:
- Transparent access to all reporting information at a set update cadence
- Clear insight answering business questions
- Sometimes, a longer form discussion is needed to build confidence or communicate nuances
Recognising when to pull each lever is important.
That’s how we deliver MMM at speed. Cutting turnaround time to days.
Get those pieces right, and you take more action from your MMM.
If you want to talk to Linea to see if we can improve your MMM turnaround time or reduce the “effort” in producing your MMM, then arrange a call here.