Measure Up

There's been a lot of excitement about Google's recent launch of Meridian - their open-source MMM framework. But does it live up to the hype?Jim and Simon explore what sets Meridian apart from other tools like Meta's Robyn and PyMC Marketing. They also discuss the evolution and impact of open-source MMM, the role of new data streams such as Google Query Volume and Reach & Frequency data, and how the availability of Meridian might shift industry standards. Listen in to understand the features, benefits, and the potential gaps Meridian fills within the marketing measurement ecosystem.▶️ Watch us on YouTubeLinks from the show:Google's MeridianMeta's RobynPyMC MarketingRecast - Validating MMMMMM Hub00:00 Introduction and Host Switch-Up00:37 Discussing Google's Meridian Announcement02:00 Understanding Meridian's Name and Popularity03:48 Google's Open Source MMM Framework05:53 Comparing Lightweight MMM and Robyn12:02 The Role of AI and Data in MMM21:52 Debunking Meridian's Myths22:13 Understanding Meridian's Role in Experimentation22:54 The Importance of Competition in Open Source MMM23:28 Unique Features of Meridian Compared to PyMC and Robin23:49 Choosing the Right MMM Tool: Robyn, Meridian, or PyMC?24:22 Explaining Time Varying Coefficients24:30 Entry-Level Recommendations for MMM Tools25:00 Static vs. Time Varying Baselines in MMM28:44 Evaluating the Accessibility of MMM Tools35:20 The Need for Robust Validation in MMM37:38 Challenges in Incrementality Testing39:07 Bridging the Gap Between MMM and Media Managers43:17 Future of MMM: In-Platform Incrementality Testing43:46 Final Thoughts and Joining the MMM Hub

Did you know that pre-roll podcast ads cost half as much and drive twice the ROI of mid-roll ads? That's just one of the many insights today's guest brings to the table. Listen in to understand the intricacies of podcast advertising with Amila Coomber, Head of Marketing & Growth at Podscribe. We explore everything from the technicalities of measuring podcast ad effectiveness, the evolution of podcast advertising, the role of pixel-based measurement, and the differences between host-read and dynamic ads. Amelia also shares valuable insights into the future of podcast advertising, including the potential impact of video on platforms like YouTube.Links from the show:Amelia Coomber on LinkedInPodscribeQuarterly (Podcast Advertising) Performance Benchmark Reports00:00 Introduction and Nickname Banter01:28 Discussing Podcast Ads02:17 Introducing the Guest05:01 Understanding Podcast Advertising14:32 Technical Aspects of Podcast Ad Measurement26:16 The Rise of Podcast Advertising26:38 Simulcast and Pixel-Based Attribution27:20 YouTube's Role in Podcasting27:59 Challenges in Measuring Podcast Ads31:10 Programmatic Advertising and Future Trends33:38 Dynamic Feedback Loops and MMM44:22 Creative Strategies in Podcast Ads45:56 Insights and Future of Podcast Measurement47:32 Final Thoughts and Incremental Insights

What do PMax, Advantage+ and an 8-year-old in an arcade have in common?They'll spend as much as they can, if you let them!In this episode, join Jim and Simon as they dive deep into the world of PPC with Navah Hopkins, a seasoned expert with over 16 years in the marketing industry. Navah shares her insights on Google’s Performance Max (PMax) campaigns, discussing the intricacies of managing them, excluding branded searches, and overcoming broader measurement challenges.Links from the show:Navah on LinkedInOptmyzr00:00 Vacation Plans and PPC Jokes01:25 Introducing Today's Guest: Navah Hopkins03:21 Diving into Performance Max Campaigns06:23 Challenges and Strategies in PPC10:42 Understanding Performance Max and Asset Management16:54 The Role of Ad Strength and Measurement in PPC24:16 Incrementality Testing Challenges24:35 Meta's Advantage Plus and A/B Testing25:06 Google's Approach to Testing and Privacy25:57 Geo-Based Holdout Testing26:24 PMax Campaigns and Branded Search27:46 Testing Strategies and Market Considerations28:29 Google's Targeting Limitations28:55 Branded Search in PMax33:05 Data Teams and PPC Collaboration38:16 Onboarding and Training for Measurement Practitioners47:45 Creative and Data-Driven Marketing49:47 Productivity Tips and Metal Music

What are the biggest challenges facing marketers and analysts today? Is it privacy regulations? Technology changes? AI?In two words: unmet expectations.Neil Hoyne, Chief Strategist at Google, shares his insights into the evolution of marketing measurement given the current environment and challenges.Even with MMMs and incrementality testing, at the end of the day the organizations that win will be the ones that can take action and make decisions based on the data. This is not a tool problem, or a data problem - it’s a people problem. Organizational friction and human behavior is still there.Listen in as we discuss the resurgence of Marketing Mix Modeling (MMM) as essential tool for marketers in a privacy-centric era, the importance of adaptability within the marketing industry, and the crucial role of storytelling and relationship building in data interpretation.📺 ⁠⁠Watch on YouTube⁠Links from the show: ⁠Neil on LinkedIn⁠ ⁠Journal of Consumer Research Journal of the Academy of Marketing Science Journal of MarketingTimeline:00:21 A Dive into Historical Context01:08 Setting the Stage for Today's Episode: The Marketing Measurement Dilemma02:44 Introducing the Expert: Neil Hoyne03:54 The Evolution of Marketing Measurement Post-COVID06:19 Challenges and Expectations in Modern Marketing Measurement16:51 The Resurgence of MMM and Addressing Organizational Challenges22:08 Bridging the Gap Between Data and Decision-Making23:22 The Future of Measurement and Analytics in Marketing26:47 Exploring the Imperfections of Marketing Tools27:05 The Complexity of Understanding Consumer Behavior28:10 Navigating Uncertainty in Marketing Decisions29:04 Competitive Advantage in Consumer Behavior30:26 The Quest for Better, Not Perfect, Marketing Models32:12 Bridging the Gap Between Data Science and Business Goals33:52 Embracing Imperfection and Business Impact38:05 The Future of AI and Its Impact on Marketing43:08 Adapting to Change and Embracing New Skills46:25 Final Thoughts and Advice for Marketers

Have you ever been told by some smug data scientist that you just need to run a randomized controlled trial to understand the true incrementality of a paid media channel? Just run a power analysis to understand your sample size requirements, right? Were you left with questions about specifically how to do that?In this episode, we talked with Nick Stoltz, Chief Strategy Officer at Measured - an incrementality testing and media optimization platform. We go beyond the "what" and "why" of testing, and dive into the details of the "how."📺 ⁠Watch on YouTubeLinks from the show: Nick on LinkedIn Measured

Universities are facing a shrinking market with changing demographics, and they're not immune from the economic pressures most businesses face today. So how do they ensure their marketing dollars are being spent wisely - especially with the challenges imposed by super long consideration cycles?Josh Dodson, Founder and CEO of Honed Consulting, joins us for a chat where we discuss these questions, and shed some light on what trends are happening in this space.Listen in as we explore how universities are navigating the challenges of marketing attribution, leveraging data to enhance enrollment strategies, and balancing traditional and digital marketing approaches.▶️ Watch on YouTubeLinks from the show: Josh Dodson on LinkedIn HONED CONSULTING Joe Bruin LightweightMMM Bayesian Methods for Media Mix Modeling with Carryover and Shape Effects Robyn PyMC-Marketing

You know it's that time of the year - time for navel gazing (not to be confused with naval gazing) end-of-year reviews, proclamations, and prognostications.It's been a busy year for me and Simon, as we were both laid off and started new paths and projects. One project in particular was this podcast! Join us as we open up about the highs and lows of our year, and what we have in store for 2024.