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#63 Media Mix Models & Bayes for Marketing, with Luciano Paz

Learning Bayesian Statistics

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The Main Difficulty Is the Spend on Different Channels

The main difficulty, as you sayi unidentifiability, which i think isn't just for mediumix models. The problem is that you don't see the total number of customers. So imputing to which channel each of the customers came from is a really difficult task. And at the core of this, after you've imputed this, you can then see how efficient channel was. How much money you have to pay for a given marketing channel to get one person to come in. This is called the cost of acquiring a customer,. And so is one of these measuress of efficiency of a channel, is the cak of the channel, the cost to acquire a customer.

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