Did your Black Friday sales pay off? Which channels delivered the best results? If you're unsure and don't have a plan to find out, keep reading.
Black Friday is one of the most important shopping events of the year. Marketing Mix Models can help you measure which channels worked, how much ROI they delivered, and how to strategize for in the future.
Understanding Where You Spent and Whether It’s Paying Off
According to Nielsen, marketers are allocating over 63% of their media spending to digital channels in 2024, yet only 38% evaluate holistic ROI across both digital and traditional efforts.
When marketers look at digital and traditional channels separately, they miss out on how channels work together. Tools like MMM provide a complete view, helping them see the combined impact of all channels, improve their strategy, and spend smarter.
This Black Friday, you may have invested in various channels, including digital and traditional advertising. But without proper analysis, you’re left guessing which investments drove the most sales. Knowing what worked (and what didn’t) is critical for refining your future strategy and ensuring your budget is spent on channels that work.
MMM provides a clear breakdown of where your budget went and which channels contributed to your success.
You Spent X Amount - What’s Your Return?
Let’s say you spent $100,000 across several channels for Black Friday:
- Paid Social: $30,000
- Paid Search: $20,000
- Email Marketing: $10,000
- TV Advertising: $40,000
You totalled $400,000 in sales after Black Friday weekend. But how much of that came from each channel? Did your high spend on TV deliver a bigger ROI than your smaller email campaign? Or did paid socials outperform both? Without these insights, you could make the wrong decisions and as a result, waste your budget in the wrong places.
MMM uses statistical models to attribute your sales to each channel, helping you understand which investments drove the highest returns. Here's what it looks like:
With MMM, users can track the ROAS for each individual channel.
How You Can Input Your Numbers into MMM to Find Out What Worked Best
To get started with MMM, collect your sales and marketing data, including details from your Black Friday campaign. Remember, the more comprehensive your data, the more accurate and actionable the insights.
Here’s what you’ll need:
- Spend per channel
- Sales data during the campaign period
- External factors like promotions, competitor activity, or economic trends
An MMM tool will analyze these inputs to show:
- The ROI of each channel
- The optimal allocation of your budget
For example, if MMM shows that search ads drove the highest ROI while TV delivered marginal returns, you’ll know where to focus next time.
MMM shows sales projections for upcoming periods, answering any “what if” questions.
Next Time, Allocate Your Budget for Higher Returns
With MMM insights, you can confidently reallocate your budget for future Black Friday campaigns. If email marketing delivered a 200% ROI while TV ads only brought in 80%, you can shift budget toward email to maximize your ROI next time.
It’s important to note that MMM is not one and done. By continuously optimizing your spending based on MMM results, you’ll achieve better results with every campaign, ensuring your Black Friday investments work harder for you year after year.
Start Measuring Smarter with MMM
Black Friday isn’t just about spending big—it’s about spending smart. Use Marketing Mix Modeling to analyze your efforts, refine your strategy, and drive bigger results for next year’s campaigns.
Want to get started? Book a free 30-minute demo.
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