Marketing Mix Modeling: A History and New Approach

Excited to share a huge product launch today at Rockerbox: Marketing Mix Modeling for the masses 💪

Here's a short background on the history of MMM and how we decided to approach this.

History and Approach to Marketing Mix Modeling

Also known as Media Mix Modeling, MMM came into popular use in the 1960s, when the advertising landscape was much simpler. Big brands like Kraft and Coca-Cola used it to understand which magazines or TV channels were most effective at driving sales

As digital advertising gained popularity, a new type of measurement called MTA (Multi-Touch Attribution) came about. With everything online, you could get granular info about user activity and use it to measure your advertising. But just like MMM, it was difficult and expensive

In 2018, Rockerbox introduced a product that disrupted the old "enterprise" MTA model and made it possible for any brand to have access to the same measurement as the big guys. We started with affordability and soon were out-innovating all the other players with new capabilities

However, there was an issue brewing under the surface: MTA was great for making decisions about specific ads and intra-channel optimizations, but our customers needed something to help them with decisions about their macro budgets. And then 2022 happened...

Optimizing budgets and efficiency was more important than ever.

We heard first-hand from marketers how painful it was to work with existing MMM vendors. Slow, ludicrously expensive, time-consuming. And by the time you got a model, it was months out of date.

That's when we decided we were going to roll up our sleeves and apply the same playbook from our MTA days to MMM.

Today, we're going to market with a product that starts at $1,000 per month - literally 1000X cheaper than the millions charged by the other guys

But we didn't stop there. We're bringing our years of data science experience to generate automated insights and recommendations. It's not just about making the setup easy, it's about making it easy for anyone to use MMM without needing a data science team 🧑‍🔬

MMM Channel Optimization Recommendations MMM Budget Worksheet

Our vision is to make Rockerbox the platform that can answer all your marketing measurement needs. There's never a silver bullet for everything, and that's why MTA and MMM (and much more coming soon!) go so well together 🤝

But most of all, I'm so excited to help smaller, growing brands compete. By continuing to give them state-of-the-art tools that can helps them win against the big guys. It's honestly what I love most about working with our customers

Check out the blog post for more details on the product and a demo video!