RevOps FM

Going Deep into Marketing Mix Modelling and Incrementality - Pranav Piyush

Oct 21, 2024

Pranav Piyush, Co-founder and CEO of Paramark, brings his expertise in marketing measurement to the forefront. He dives into the complexities of marketing attribution, discussing the drawbacks of traditional methods and the need for innovative approaches like marketing mix modeling and incrementality testing. Pranav emphasizes the importance of understanding true causation versus correlation. He advocates for realistic expectations and the integration of both qualitative insights and data analysis to navigate the evolving landscape of B2B marketing effectively.

57:50

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Pranav Piyush

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Quick takeaways

Attribution in B2B marketing often relies on inadequate models, leading to poor decision-making due to their failure to reflect complex customer interactions.

Incrementality testing is increasingly recognized as a crucial method for distinguishing between genuine marketing impacts and mere correlations in sales performance.

Media Mix Modeling offers a sophisticated alternative to traditional attribution by analyzing aggregated data to provide actionable insights without relying on user-level tracking.

Deep dives

The Complexity of Attribution in Marketing

Attribution poses significant challenges within marketing, particularly in B2B contexts, where traditional models often fall short. Many organizations utilize basic attribution methods like first or last touch, or adopt vendor-pushed methodologies that lack empirical support. These simplified approaches result in poor decision-making since they do not adequately reflect the complexities of customer interactions across various channels. Acknowledging these shortcomings is vital for evolving marketing strategies and developing more accurate measures of impact.

Intro

2min

Navigating the Complex Landscape of B2B Attribution

6min

Unpacking Marketing Mix Modeling

20min

Navigating Marketing Attribution for Growing Companies

4min

Navigating Marketing Challenges in Uncertain Times

21min

Embracing Experimentation in Marketing Strategies

2min

Navigating B2B Marketing Strategies and Measurement Evolution

3min

Attribution remains one of the hardest challenges in marketing.

It affects literally EVERYTHING: how we’re perceived as a discipline, the strategies we pick, the activities we decide to do—even how we justify our existence.

B2B companies generally use some combination of first touch, last touch, or multi-touch attribution. They may apply those approaches very diligently and rigorously, but few stop to consider whether those methods are valid and sound.

How do we know whether attribution actually predicts anything? Are we just deluding ourselves? And if we tear down MTA, what do we put in its place?

In today's conversation with Pranav Piyush—CEO of Paramark—we discuss how to apply marketing mix modelling and incrementality testing to understand the effectiveness of any channel or asset.

Thanks to Our Sponsor

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About Today's Guest

Pranav Piyush is the Co-Founder and CEO of Paramark, a platform providing marketing measurement and forecasting for fast-growing businesses. Prior to Paramark, he's held growth and marketing leadership roles for companies like Magento, Pilot.com, and BILL.

https://www.linkedin.com/in/pranavp/

Key Topics

[00:00] - Introduction
[01:45] - Why multi-touch attribution isn’t valid
[07:19] - Why MMM overcomes the limitations of MTA
[11:05] - Correlation vs. causation
[16:00] - Measuring the impact of content
[22:47] - How MMM works under the hood
[27:12] - Running an incrementality test without MMM
[32:26] - Qualitative insights
[37:39] - Incrementality deep dive
[43:07] - Brand
[49:30] - Paramark

Thanks to Our Sponsor

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