What is Marketing Mix Modeling?

Marketing mix modeling is a technique that takes spend data along with other inputs to predict future sales. It is a powerful tool in the marketers tools kit because as every marketer knows, marketing strategy is complex. You are dealing with multiple channels from more traditional sources such as TV or print to a vast array of digital channels like display, social and paid search. Each channel as a role, and no channel operates in isolation. The power behind marketing mix modeling is that you can bring all of your different channel spends under one umbrella to make a more accurate prediction of future sales. Because you are able to build a model that uses multiple different channel spends you get a more robust understanding of what you can expect as a result of your marketing efforts.