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m5 Media Mix Model
Media mix optimization is one of the best ways to improve marketing success, when
it’s done right. Unfortunately, marketers often find themselves battling with the
process in a manner lacking the science necessary to do it right. Money Mailer Direct
Marketing’s m5 Media Mix Model is the science of multi-channel media selection.
It can help your company increase its marketing ROI by quantifying how different
media combine to affect incremental sales, highlighting areas of insufficient or
excessive investment and, ultimately, reallocating media resources optimally.
The m5 Media Mix Model optimizes the combination of media used to help attain marketing
goals. Its metrics consider the reach, frequency, audience, and format of every
medium in determining which combinations of media are best for testing based on
marketing requirements. The model considers all direct and mass media and can incorporate
any media already being used into the testing process. Combined media efforts deliver
better marketing performance than would be expected based on the performance of
individual media. Transference, repetition, and combined reach explain some of these
multimedia synergies, and the best way to find the most of them is with the appropriate
set of sophisticated testing procedures and measurement metrics, which is exactly
what the m5 provides. |
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