March 22, 2024

Embracing the Future of Marketing Mix Modeling with Meridian: A Game-Changer for Marketers

mix marketing

Let’s talk about a challenge we’re all too familiar with: measuring the full value of our cross-channel media strategies. Yep, it’s a tough nut to crack, especially with the way media consumption is all over the place these days, not to mention those ongoing privacy changes giving us all a headache.

But fear not, because there’s a ray of hope shining through the chaos: Marketing Mix Models (MMMs) are making a comeback, and they’re more powerful than ever. According to a recent study with Kantar, a whopping 60% of US advertisers are already on board with MMMs, and even those who haven’t dipped their toes in yet (about 58%) are seriously considering it for the future.

That’s where Meridian comes in. Drumroll, please!

Introducing Meridian: the open-source MMM that’s about to revolutionize the way we measure our marketing efforts and drive those sweet, sweet business outcomes. It’s like the Swiss Army knife of MMMs, packed with all the goodies you need to build top-notch models and level up your game.

So, what’s under the hood of this bad boy?

  1. Innovation: We’re bringing some serious brainpower to the table with cutting-edge methodology innovations. Think calibration with incrementality experiments, reach and frequency magic, and expert guidance on measuring search. We’re talking accuracy, actionability, and all that good stuff.

2. Transparency: Transparency is our middle name. With Meridian  being open-source and all, you can peek under the hood anytime you want. Tweak the code, play with the model parameters – it’s all up to you. We’re just here to give you the tools to make it happen.

3. Actionability: Meridian isn’t just about fancy stats; it’s about making informed decisions. We’re serving up richer data inputs, modeling guidance that’s as clear as day, and the cherry on top – cross-channel budget optimization. Say goodbye to guesswork and hello to smarter media allocation.

4. Education: We’ve got your back every step of the way. From comprehensive technical documentation to hands-on support, we’re here to make sure you’re set up for success. Consider us your MMM spirit guides.

And hey, the numbers don’t lie. According to Deloitte, C-Level leaders who give MMM the attention it deserves are more than twice as likely to smash those revenue goals out of the park.

Sure, MMMs might not be perfect yet, but hey, we’re getting there. And with Meridian leading the charge, the future’s looking brighter than ever.