The aim of this analysis is to see how Marketing mix Modeling (MMM) and Conversion Lift Experiments (CLE) can complement each other as measurement techniques for more accurate results.
This paper explores how different factors can be used for Calibration to align the differences between the two study scopes.
First, the report explains the difference between the two methodologies.
The main finding of the study is that Lift studies help to calibrate MMM results. 2/3 of MMM results could be refined further by using Lift Studies. 2 in 3 “Meta” MMM ROI results changed after calibration. On average, a change of 25% in ROI post calibration was observed.
To calibrate different MMM results across multiple industries and regions, a unified approach was adopted and the impact was evaluated through measuring the improvement of model fit (R-square, MAPE) as well as the impact on Meta ROI.
