How to build an in-house Marketing Mix Modeling capability

Marketing Mix Modeling (MMM) is firmly established as the most reliable, applicable, and insightful way for brands to quantify the key drivers of growth. Without objective measurement, allocation and optimization of the marketing budget would be messy guesswork. Nowadays the question lies not in whether you should do it, but rather how can you do it. You can, of course, hire an external party to perform marketing mix modeling for you, which might be easy, but as with most easy solutions, it is far from ideal. In the end, the benefits of building modeling capabilities internally are definitely worth the effort, but that’s easier said than done.