Marketing
Mix Modelling
We bring client-side marketing expertise, radical transparency, and a challenger mindset to MMM – powering faster, sharper P&L decisions.
What is Marketing Mix Modelling (MMM)?
Marketing measurement is currently undergoing significant change. For example, reliable digital attribution is no longer possible due to privacy interventions by Apple and restrictions on cookie availability.
Because of this, more and more brands are using Marketing Mix Modelling (also known as MMM or econometrics). It is a set of statistical analysis techniques applied to marketing or sales data to estimate the impact of your marketing activities. It is typically used to optimise the advertising mix and promotional tactics to increase ROI or incremental revenue.
Many MMM providers don’t fully disclose their workings. Projects can take an inordinate amount of time, and most don’t have the client-side marketing and media experience to provide easy to understand and specific actionable insights.
At Entropy, we are on a mission to change that.
We combine data-science experts with significant client-side expertise to make sure that any insights are comprehensive and comprehensible, with pragmatic next steps to maximise the impact of your spend.
Thanks to advances in technology, we are able to provide MMM studies quicker and more cost effectively than legacy providers. We are also fully transparent with our process and how we build our models, so your business can trust the results.
How are we different?
We have been in your shoes.
The client-side experience in our team means those working on your project are likely to have experience similar to that of your marketing stakeholders. We understand what information you need, how you need it delivered, and who else within your organisation you need buy-in from.
Our team has client-side marketing and media experience from the likes of Argos, Unilever, Kellogg’s, American Express, Bupa and a variety of other brands. That means we complement the deep statistical knowledge of our econometricians and are able to translate insights into clear and readily understandable recommendations to send to board level.
We are quicker and more cost effective.
Unlike legacy MMM providers, we aren’t hamstrung by significant platform fees or drawn out processes. We are a nimble team, embracing advances in tech that enable us to provide meaningful insights within weeks not months.
We believe in explaining our workings.
Marketing Mix Modelling is not magic, it’s statistics. Our econometricians are more than able to explain the different processes and decisions made in the modelling process and are happy to do so.
We want to make sure you and your team fully understand and trust the results we show you – not to be like a black box, blinding you with jargon.
How are we different?
We have been in your shoes.
The client-side experience in our team means those working on your project will have likely done similar roles to your marketing stakeholders. We understand the information you need to know, how you need it delivered, and who else within your organisation you need buy-in from.
Our team has client-side marketing and media experience from the likes of Argos, Unilever, Kellogg’s, American Express, Bupa and a variety of other brands. That means we complement the deep statistical knowledge of our econometricians, able to translate insights into clear and easy to understand recommendations up to board level.
We are quicker and more cost effective.
Unlike legacy MMM providers, we aren’t hamstrung by significant platform fees or drawn out processes. We are a nimble team, embracing advances in tech that enable us to provide meaningful insights within weeks not months.
Plus, with lower over-heads we can perform full Marketing Mix Modelling projects much more cost effectively than our competitors.
We believe in explaining our workings.
Marketing Mix Modelling is not magic, it’s statistics. Our econometricians are more than able to explain the different processes and decisions made in the modelling process and are happy to do so.
We want to make sure you and your team fully understand and trust the results you are shown – not to act like a black box and blind you with jargon.
We are pioneering change in the MMM industry
At Entropy we like a knotty measurement problem. As well as working with our clients to maximise the P&L impact of their spend we also act as a catalyst for change in the industry.
Below are some examples of recent projects we’ve been involved in.
Trading on Viewability
We were the first entity in 2018 to develop best practice and guidelines for the ad trade body ISBA for how brands can trade on viewable impressions.
Out-of-home
We developed the industry’s best practice guidelines for out-of-home MMM. Our standard was subsequently adopted by the ad trade bodies ISBA and Outsmart.
Radio
We worked with ISBA to develop best practice for planning radio based on our MMM studies.
Influencer & Retail Media
We’ve developed best practice for ISBA members to measure incrementality for retail media and influencers.
MMM Case Studies
What our clients say
Our latest thoughts on Measurement:
From Siloed Teams to Shared Decisions: the MMM Effect
This blog examines how there is no one “silver bullet” to marketing measurement, but instead a combination of approaches will allow you to maximise the impact of your spend.
What Would Happen If You Stopped All Your Advertising Tomorrow?
This blog examines how there is no one “silver bullet” to marketing measurement, but instead a combination of approaches will allow you to maximise the impact of your spend.
You Don’t Have to Waste Half Your Ad Spend Anymore
This blog examines how there is no one “silver bullet” to marketing measurement, but instead a combination of approaches will allow you to maximise the impact of your spend.
