From the course: Social Media Marketing: ROI

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Marketing mix modeling for attributing social media ROI

Marketing mix modeling for attributing social media ROI

From the course: Social Media Marketing: ROI

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Marketing mix modeling for attributing social media ROI

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- [Instructor] Marketing mix modeling is a technique developed in the 1980s to match spikes and dips in sales to marketing spend. It works particularly well for measuring the attribution of channels like TV and social media, where sales happen through repeated exposure to your brand, rather than via a direct click on an ad. This template works through a simple example of marketing mix modeling, but once you understand the concepts, you could work with a professional to build more advanced models for your business, that fully captures the ROI of your social media campaigns. So how does marketing mix modeling work. So the main thing you need to build a marketing mix model, is your data in this format. You need sales, or how many conversions, or leads, or whatever you're trying to predict in the first column here. Then you need different variables that you think will be predictive of sales. In our case, we've chosen how…

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