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Measuring Marketing Incrementality and Budget Optimization: Michael Kaminsky, Founder of Recast
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Destaney Wishon and Justin Nuckols, Destaney Wishon, and Justin Nuckols द्वारा प्रदान की गई सामग्री. एपिसोड, ग्राफिक्स और पॉडकास्ट विवरण सहित सभी पॉडकास्ट सामग्री Destaney Wishon and Justin Nuckols, Destaney Wishon, and Justin Nuckols या उनके पॉडकास्ट प्लेटफ़ॉर्म पार्टनर द्वारा सीधे अपलोड और प्रदान की जाती है। यदि आपको लगता है कि कोई आपकी अनुमति के बिना आपके कॉपीराइट किए गए कार्य का उपयोग कर रहा है, तो आप यहां बताई गई प्रक्रिया का पालन कर सकते हैं https://hi.player.fm/legal।
#032 - In this episode, Justin Nuckols interviews Michael Kaminsky, a data scientist and founder of Recast. They discuss the importance of measuring the incremental return on marketing spend and how marketing mix modeling can help brands optimize their budget allocation. Michael shares his insights on running experiments to determine the true incrementality of different marketing channels, as well as the challenges of measuring the impact of advertising on platforms like Amazon. They also touch on Amazon Marketing Cloud (AMC) and the need for more experimentation tools in retail media.
Key Takeaways:
- Marketing mix modeling helps brands measure the incremental return of their marketing spend and optimize their budget allocation.
- Running experiments can provide valuable insights into the true incrementality of different marketing channels.
- It is important to isolate variables and measure the impact of specific changes in marketing strategies.
- Different marketing channels have different dynamics, and the frequency of remeasuring their impact depends on various factors.
- Retail media platforms like Amazon could benefit from providing more experimentation tools to help brands determine the true ROI of their advertising spend.
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