How to prepare your data for Marketing Mix Modeling Analysis

To get the most out of Marketing Mix Modeling (MMM) analysis, you'll need to prepare your historical marketing and sales data carefully.

Here’s what you should consider:

Data Duration: Ensure you have one year or more of data. If you don’t have enough data, the model will end up being unreliable
Data Content: Your data file should always include a date or week column.
Media Channels: Include all media channels you are investing in. This can be:
- Digital Media Channels: Google Ads, Meta Ads, LinkedIn Ads, X Ads, Email Marketing, Outbound Marketing Tools, etc.
- Offline Channels: TV, Radio, Podcasts, etc.
Extra Features: For more accurate results, include context variables such as:
- Seasonal trends
- Competitor data from Google Trends
- Weather data
- Economic indicators (e.g., inflation)
- Promotional and pricing strategies
- Industry trends and events etc.
Key Performance Indicators (KPIs): Your dataset should include the KPI you want to track. Common KPIs are sales, app registrations, customers, ad impressions, ad clicks, ad revenue, etc.

Remember, there can be only one KPI per model (and per dataset).

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