Senior business leaders have long sought to understand the true impact of their marketing investments on business performance.
More than 20 years ago, the field of Marketing Mix Modeling was established to begin to answer these questions by using statistical techniques to determine the relationship between advertising spend and sales. The first attempts looked at the impact of TV advertising on sales and were then broadened to include other paid media (e.g. print, radio, mail) and other marketing elements (e.g. price, promotion).
This was progress but the approaches used were time consuming and expensive – typically giving insights only after the fact on campaigns that had already finished. They also failed to meaningfully consider the impact of consumer interactions in fast growing digital channels, nor utilize the rich data sets that were becoming available on consumer behavior in these channels.
(m)PHASIZE was founded to address these shortfalls. We focus on understanding how all consumer touch points (online and offline) impact both consumer behavior and sales wherever they occur.