Marketing Mix Modeling: Utilizing Open Source Technologies to Improve Advertising ROI

We are sharing insights from the “Creative Elements That Matter” study Meta ran with Toluna. The study's purpose was to help identify and build the best creatives for short-form video. Martin Ash (Media & Digital Measurement Specialist, Toluna), Bex Launstein-Dean (Associate Research Director, Toluna), Sonja Wedekin (Marketing Science Partner, Meta) and Dan Moller (Creative Strategist, Meta) share insights on creative elements that are likely to drive high performance and brand impact. We also discuss Toluna’s measurement approach in detail to provide inspiration on how to evaluate creatives at scale.

We are discussing Meta’s new “Incremental Attribution” solution: Not only measuring the incrementality of marketing efforts, but actually optimizing ad delivery for users that would not have converted without the advertising (as opposed to those who get exposed to an ad but would convert anyway).Katija Vlatkovich, Head of Performance Marketing at Zalando talks about how Zalando applies Incremental Attribution and Abhijeet Sathe, Measurement Solutions Specialist, Meta explains how the product utilizes machine learning to understand how attributed conversions tie into incremental results.

Recorded at the Meta Measurement Forum in London, 9 measurement experts talk about today’s biggest measurement challenges and how to solve them, how they have changed over the last years and what measurement professionals’ greatest wishes are these days. They are also sharing how they are utilizing incrementality measurement and we share insights into Incremental Attribution (Meta’s optimization solution based on incrementality) and into the latest on Value Optimization.Speakers are Phil Mitchelson (VP Data Growth, Superbet), Yiğit Yazgı (Global Manager Marketing Science and Measurement, JustEatTakeway.com, Juan Redondo (Data Lead - Marketing Optimization, Fever), Tom Cicco (Marketing Data Scientist, BackMarket), Tanguy Chapin (Data Analyst, BackMarket), Daniel Slotwiner (Global Director Marketing Science, Meta), Georges Mao (Director Marketing Science EMEA, Meta), Ute Jaeger-Wolfe (Director Marketing Science, Meta), Julian Dan (Product Marketing Manager, Meta)

Finance and Marketing (Science) teams are rarely in deep collaboration. Marketing is often still seen as a cost center rather than an investment function creating returns which can lead to missing opportunities. Bringing finance and marketing closer together, creating a mutual understanding of measurement approaches and KPIs, can increase businesses’ top and bottom lines. This episode provides guidance on how to create a meaningful collaboration. Ian Whittaker (Leading industry expert and thought leader, founder of the advisory firm Liberty Sky Advisors), Michael Askins (Marketing analytics principal at Farfetch) and Gabriella Munro (Marketing Science Partner UK, Meta) share experiences and advice.

Embracing a culture of true experimentation in companies and organizations leads to crucial learnings and improved business outcomes. But it also comes with challenges and can make people uncomfortable. It is essential to build the right culture, implement clear processes for priorization / decision making and to utilize valid testing approaches.William Grosso (CEO Game Data Pros), Julian Runge (Assistant Professor of Marketing at Northwestern University) and Igor Skokan (Marketing Science Director at Meta) share experiences and give concrete guidance on implementing culture, processes and approaches to leverage experimentation for always-on improvement.

The accuracy and benefits of attribution compared to incrementality measurement solutions is an evergreen in Marketing and Marketing Science. Incrementality should be the gold standard for measurement but there can be value in attribution as long as it is continuously validated and calibrated with incremental measurement results.Thomas Violino (Product manager at Zalando and leading Zalando's measurement product development), Nico Neumann (Associate Professor at Melbourne Business School and founder of marketingscience.today) and Gufeng Zhou (Marketing Science Partner at Meta) share guidance and inspiration on utilizing and triangulating different solutions.

The relevance of identifying the most valuable customers with the highest lifetime value and optimizing marketing for them has increased massively for many advertisers. This episode covers strategies to incorporate predicted lifetime value into your marketing.René Tingskov (Head of Marketing at Søstrene Grene), Peter Fader (Professor of marketing at the Wharton School of the University of Pennsylvania and co-founder at Theta and Incompass Labs), Qiong Wu (Marketing Science Partner at Meta) share guidance and experiences.

Advertisers today have plenty of options when it comes to metrics and measurement solutions and it can be hard to identify the most relevant ones. The question on how to measure both short and long term impact of lower and upper funnel advertising is one of the most burning topics in the industry.  Les Binet (Group Head of Effectiveness Adam & Eve DDB), Gordon Black (Director of Paid Media Measurement and Learning Adidas), Konstanze Fichtner (Marketing Science Partner and EMEA lead for brand measurement Meta) share guidance and insights.

In a world where every investment matters, advertisers are focused on measuring the impact of their marketing. Many are taking control of that measurement, bringing some or part of that process in-house. There is a growing number of open source solutions supporting these efforts. This episode discusses open source tools for measurement in general and solutions for marketing mix models in particular. Insights, potential pitfalls and guidance on in-housing MMM are shared by Joshua Pearce, Head of Brand Performance, The Hut Group, Karen Flores, Senior Manager Consulting AI&D, Deloitte and Igor Skokan, Marketing Science Director, Meta.