Why you need an MMM

Measuring your marketing impact or deciding where your dollars are best spent should never feel like sticking your finger in the wind. You should also never have to question whether the reporting you’re seeing on your performance can be trusted. We’re hearing from our clients that these are common concerns before they find our platform. If you’re frustrated with those feelings or any of the issues below, let’s chat. It’s time for you to experience something better.

You’re done dealing with incomplete data

Google may be delaying the depreciation of cookies, but there’s no denying that privacy changes have altered marketing analytics methods. Over a third of Americans surveyed said they used ad blockers in 2022, and more recent surveys show that number has gone up. At this point, the writing is on the wall for user tracking; even the NSA is advising Americans to use ad blockers. But even if Americans weren’t increasingly using these technologies, there’s just no reason to try to understand your marketing performance or shape your paid media strategy off of incomplete data.

Attribution methods like multi-touch attribution (MTA) will always offer incomplete insights because they just don’t have access to all the data they did just a few years ago. MMMs use a different approach altogether, leveraging advanced statistical models to understand your performance with math instead of user tracking. Because of this, we call them “future proof.” No matter what happens with user data privacy regulations, our clients will get seamless marketing attribution.

You want to feel like your reports aren’t biased

An MMM provider like Prescient doesn’t care what channels are or aren’t working for you. We don’t stand to gain from you thinking one of them is the most effective and we get nothing if you decide to scale spend. Unfortunately, that can’t be said for the platforms reporting on your ad performance on their channel. You’ll find complaints of this in Google’s help desk forum and Meta is facing a lawsuit centered around this issue. At the very least, you should be able to check their numbers against a report that isn’t biased so you can consider all information.

Your platform data doesn’t align with your revenue

We’ve seen this with some incoming clients: their in-platform reporting tools are reporting revenue numbers that add up to more than their total revenue. That means one, or all, channels are taking too much credit for conversions. They could all be valuable, effective channels, but you still want to understand what’s actually happening, and that’s just not possible when the reports aren’t adding up correctly.

MMMs don’t rely on user data and they don’t have a vested interest in showing that a platform is doing well or poorly as we discussed above. That means they can provide a more complete picture with less bias. An MMM may confirm a platform’s numbers, or even show that it drove more revenue than its reports say. Whatever the result, you’ll know it was based on statistics, and you can even verify the accuracy of the MMM by looking at how closely the overall revenue number aligns to your internal sales data.

You need a proof of concept on emerging channels

It feels like there’s always a new channel right around the corner, but you know they’re not all worth being on for your brand. Is this new one a TikTok or a Facebook Live (sorry, Meta, for the dig)? You want to know what kind of gamble you’re making before you put big numbers behind any campaigns. Prescient’s MMM can help you build a proof of concept around a new channel to make a case for scaling your presence—or jumping ship without wasting too much of your budget. How Prescient can help:

• Our dashboard quantifies your top of funnel—and how this channel drives revenue in other ways, such as organic traffic, branded search, and direct traffic.
• We help you make strategic optimizations if you want to test the capacity for the new channel to scale without spending too much.

Why you need Prescient’s MMM

We took the idea of an MMM further. We layer multiple models together for a flexibility to understand a wide range of relationships in paid marketing. We’re the only MMM provider on the market doing that. Beyond our robust modeling, we mindfully created tools to solve common marketing problems consumer brands face, like:

Prescient helps you scale confidently

We get it, marketing budgets are rarely increased. If yours was recently given a bump, first, congrats on the minor miracle. Second, we understand the pressure to be absolutely sure before moving ahead with a marketing strategy when you’ve been entrusted with more money. Having more complete data and a proof of concept on any new channel are steps toward building overall confidence, but we know you need more than that.

Our dashboard offers multiple ways to identify optimization potential. Our Optimizer can show you where pulling back spend from a less effective campaign can fund the ramp up on another, more-effective one. But it can also recommend the most efficient use of additional budget if you do get that rare boost.

Prescient helps you know where you’re overspending

We don’t believe all campaigns saturate the same way, so we built saturation curves into our dashboard. These charts let you track your ad stock and identify opportunities you may not have thought possible. Some campaigns, for example, show multiple peaks of efficacy—you may think your campaign is saturated because it’s in the trough between two peaks and spending more or less will get your ROI back where it needs to be.

Wrapping it up…

If you’re not yet using an MMM, there’s a more reliable reporting experience out there for understanding your paid marketing performance. Any MMM brings more confidence to your attribution and campaign planning, but we’ve built features into our dashboard to make marketers feel most empowered when using Prescient. Book a demo to see it in action.