Musings About Choosing the Right MMM Platform Provider

MMM
Attribution
Software
Platform
Agencies
Guide
Author

Michael Green

Published

September 28, 2024

Image from Freepik

When agencies set out to select a marketing mix modeling (MMM) platform, it often feels like a big decision. And it is, but not always for the reasons people think. It’s not just about picking a platform with the right features, though that’s important. The trickiest part is knowing how it will actually work in your organization. You can compare features and pricing all day, but how it fits into your workflow is what really makes the difference.

The first question you have to answer is what you actually need from an MMM platform. It sounds obvious, but people often skip this. They rush to look at features before thinking about what success looks like for them. Are you trying to justify past media spend, or optimize future spend? Do you need real-time feedback, or can you live with slower updates? What level of granularity do you need in your data? Do you need a platform that can handle data from all the channels you’re using, or are there some you can ignore for now? You’ll get very different answers depending on what your priorities are.

Once you know what you need, you can start evaluating platforms. At first, it’s tempting to focus on technology. Does it use machine learning? How sophisticated are its algorithms? That’s not wrong, but it’s not the whole picture. The most advanced platform in the world won’t help you if it’s hard for your team to use or integrate into your existing workflows.

What you really want is a platform that does two things well. First, it should match the level of sophistication your team can handle. If you have an in-house team of data scientists, then sure, go for the cutting-edge stuff. But if your team isn’t that technical, a simpler solution that gives them clear, actionable results is going to work much better. Second, it should fit into your data ecosystem. Can it pull in the data you already have easily? Does it export results in a format that’s easy for your team to work with? These are the questions that will determine whether a platform will actually be useful day to day.

Another factor that people often overlook is how much support they’ll get from the vendor. In the real world, things always go wrong. You’ll hit snags with data integration or misunderstand how a feature is supposed to work. The quality of customer support can make or break your experience with an MMM platform. Good platforms come with good support. The people selling it know it’s not just about selling software; it’s about helping their customers succeed. You want to find a provider who will be there when things don’t work, not one that vanishes after the contract is signed.

And then there’s the question of cost. MMM platforms vary wildly in price, and it’s easy to get lured into buying the most expensive one because it feels like a safe bet. But the most expensive option isn’t necessarily the best for you. You have to think about total cost: not just the cost of the platform, but the cost of implementing it. How much time will your team have to spend learning it? How much work will it take to get it integrated with your systems? A cheaper platform that’s easy to set up and use could end up being a better investment than a pricey one that takes months to get working right.

Once you’ve picked a platform, the next step is integrating it into your organization. This is the part that’s easiest to underestimate. You might assume you’ll just plug it in and start getting results, but that rarely happens. Most MMM platforms require a lot of customization to fit your specific needs. You’ll have to clean up your data, figure out how to structure your models, and tweak the algorithms to fit your business. This takes time, and you should plan for it. The platforms that look easiest at first often turn out to have hidden complexity.

The best way to integrate an MMM platform is to start small. Pick one or two channels to model first, see how it works, and then expand from there. This lets you identify any problems early and work them out before you’re dealing with huge amounts of data. It also helps your team get comfortable with the platform gradually, instead of overwhelming them with a big, complex system all at once.

Selecting and integrating an MMM platform isn’t just a technical challenge; it’s an organizational one. You’re not just buying software, you’re changing how your agency works. And that means the people side of the equation is just as important as the technology side. If your team doesn’t buy into the platform or find it useful, it doesn’t matter how great it is on paper.