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How to Build a Media Mix Model

Confused about how to attribute credit for sales and brand-building success? You’re not alone. It’s a hot topic given the level of media spending in digital formats and continued media fragmentation. But there’s a way to do it called media mix modeling. And it should be at the head of every marketer’s priority list. Let’s start with a pair of baseline examples, advertisers with retail, call center, and online commerce touch points with their customers. Vonage and XM Radio fit the bill. Their activities sound complex, but there is something to be learned from the way they sell their products and interact with their customers over time. Both firms sell through retail at establishments like Target, Staples, Best Buy, Comp USA and Circuit City. You can buy at these stores and activate your account either by phone or online. In addition, both can take your order right online, and will ship your device. You can activate your account either by phone or online in this scenario as well. Both fi...