Marketing Mix Modeling for
Retailers
%
Increase in ROI*
Increase in Sales*
Download the Industry's Toolkit
Toolkit includes: Data Request File, Marketing Mix Modeling Workflow, Industry Use Case & the Model Validation White Paper
Industry Overview
Challenges in Marketing
- Understand the long-term impact of marketing on the brand.
- Understand and optimize the omnichannel strategies.
- Easily grasping the varied marketing effects within different regions and stores.
- Accounting for different regions and stores using pooled regression.
- Frequent model updates for constant control over marketing budgets
- Affordable, fast and simple MMMs
- Assess direct and indirect impact of media on sales (mention example, direct impact of social media on search and indirect impact on sales)
- Explore synergy between pairs of media variables
KPIs
- Sales (by customer segment OR by region OR by product category OR by sales channel)
- Sales volume
- Footfall
- Consideration
Customized Solutions
Promotions’ Optimization, Pricing Analytics, Brand Health Measurement, Sales forecasting, Channel ROI, Marketing Data Management, Monthly Updates, In-house Modeling Software, MMM Training, MMM In-housing, MMM Consultancy.
Client Review
Frequently Asked Questions
Q:Can MMM Handle my Omnichannel Approach?
A:Yes, MASS Analytics’ approach can effectively handle your omnichannel mix by analyzing and attributing the impact of various marketing channels across different touchpoints to provide insights for optimal resource allocation and strategy refinement.
Q: How Long Does It Take to See Results from MMM?
A: Once the optimization plan is put into action, you will be able to see results since the first period specified in your plan.
Q:How long does it take to build Marketing Mix Models?
A: For a simple project scope requiring 1 national model build, it can take from 4 to 6 weeks once all data is received. Complex scopes requiring regional models for example, can take about two months. (If you want a personalized estimate based on your modeling needs, you can connect with our Retail MMM Expert here!)
Q:Can MMM Handle Seasonal Variations Effectively?
A: Yes, MASS Analytics’ approach can effectively handle seasonal variations by capturing historical patterns and adjusting for them in the analysis, allowing for accurate insights into the impact of marketing strategies throughout different seasons of the year.
Q: Can MMM reveal insights about my sales in different stores/regions?
Yes, using MassTer, MASS Analytics’ specialized Marketing Mix Modeling software, you get access to an analysis broken down by stores/regions based on your needs.
Q: Can MMM take into consideration specifications of one region or one store while using panel data across different regions/stores ?
A: Yes, through the application of the random forest technique, you can estimate varying impact levels of the same variables across regions or stores. This enables the incorporation of store or region-specific specifications into the model. For instance, distribution efficiency may vary across different stores or regions, which can be closely linked to demographic variables. Thus, treating the distribution variable as a random effect integrates such variability into the model, which wouldn’t be achievable by treating distribution as a fixed effect.
Our Clients
