Estée Lauder Companies x Ekimetrics Part 2: Getting under the skin of Marketing Mix Modeling

This podcast episode explores the journey and evolution of marketing effectiveness at Estée Lauder Companies (ELC). It discusses the development of a unique multi-stage methodology for measuring the impact of marketing on conversion, desirability, and consideration. The evolution of marketing towards digital media and the optimization within digital media are also emphasized. The importance of granular data and measurement is highlighted, along with real-world examples of the effectiveness of influencer marketing and TikTok. The implementation of multi-stage media mix modeling is discussed, as well as the challenges of choosing the right brand metrics and approach. The importance of intent in the consumer purchase journey and the need for a holistic measurement strategy are also explored. The section concludes with valuable insights for building a successful measurement journey, emphasizing the importance of prioritizing initial successes, internal alignment, clear expectations, and expertise in measurement.