By Olivia Crum, Digital Coordinator
More than ever, consumers are engaging with ads across a plethora of platforms. Due to the increase in digital channels, Facebook has expanded its measurement partnerships to increase cross-channel comparability and, later this year, third-party verification. By partnering with companies such as Nielsen and ComScore, Facebook is taking strides to ensure accurate ad delivery data.
Marketing Mix Modeling (MMM) is a statistical analysis that measures the impact of media tactics. It specifically allows advertisers to measure performance across media types, enabling comparisons among TV, digital and print ads. Advertisers will be able to determine which ads performed best and which ads yielded the greatest ROI. This information becomes more powerful when used to create subsequent advertising plans.
The concept of MMM originated with consumer package goods advertising. It has proven so useful that Facebook is encouraging advertisers to utilize the analysis to make tactical decisions about future campaigns.
These additions will benefit our advertisers throughout the planning and evaluation process. MMM will allow Hirons to look at all data in a synchronized platform to better evaluate a client’s ad performance. With Facebook’s measurement partners, we can now verify and measure specific outcomes for Facebook impressions. This will better inform us, as well as our clients, as we begin planning future campaigns.