Using Northbeam's MMM+ model to feed Northbeam's MTA data will help evaluate effectiveness and inform resource allocation for scaling.
Adding new channels to the MMM model may not have an immediate impact, but can help you plan how to scale long-term. Here's how to use Northbeam to test and scale new channels:
- Start by utilizing Northbeam's Multi-Touch Attribution (MTA). This solution is designed to evaluate the impact of marketing channels. By analyzing the performance of a new channel through MTA, you can assess its effectiveness, make directional decisions, and understand its contribution to conversions.
- Ingest your MTA data into Northbeam's MMM+ models. It’s important to note that it typically takes a few weeks or months before the new channels start substantially influencing the model unless the channel has an unusually significant impact.
- Assess the MMM+ output to determine the new channel's potential value, which can help you allocate resources to scale. You will be provided predictive cost curves and budget scenarios on what it suspects performance may look like on bigger spends. This information can be leveraged to help inform how aggressive or conservative we should start on a channel.