New updates shared by Facebook on MMM

New Ideas in MarketingEssential news for marketers, summarised by YouGov
May 28, 2021, 4:16 AM GMT+0

Marketing Mix Modelling (MMM) is “a data-driven statistical technique that quantifies the impact of marketing and non-marketing activities on sales.”

Facebook has shared new insights into its evolving MMM, which can help marketers better target audiences with the right content mix. The MMM approach automatically adjusts to consumer trends to maximise ad performances across Facebook’s network.

With MMM using scientific methodology to analyse factors, the model is privacy-friendly, observes Facebook. This could provide marketers with more transparency on data collection, as many tech companies like Apple implement new user privacy policies.

The company worked with Analytic Edge to develop the new repeatable MMM framework with better ad targeting tech. With more updates to come, MMM will be easier to use on SaaS platforms and will be automated, and AI-driven. Both small and large companies can now scale MMM adoption.

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