Prior research on advertising media mixes has mostly focused on single channels (e.g., television), pairwise cross-elasticities, or budget optimization within single campaigns. This is starkly detached from advertising practice where (i) there is an increasingly large number of media channels available to marketers, (ii) media plans employ complex combinations of channels, and (iii) marketers manage complementarities among many (i.e., more than pairs) channels. This research empirically learns complex channel complementaries using Latent Class analysis. Latent classes have three useful properties: (i) they account for non-random selection of channels into campaigns, (ii) they capture pairwise and higher-order interactions between channels, and (iii) they allow for meaningful interpretation. We empirically describe the most common media channel archetypes and estimate their relationship to the effectiveness of a set advertising campaigns on a set of common brand-related performance metrics. We use a dataset of 1,083 advertising campaigns from around the world run between 2008 and 2019. We find that there is not a systematically “best” media mix that correlates to dominant performance across all metrics, but clear patterns emerge given specific metrics. We find that traditional channels (TV, outdoor) are commonly paired with digital channels (Facebook, YouTube) in high-performing campaigns. We also find that current marketing practice appears far from optimal, and simple strategies have the potential to increase brand mindset metric lifts by 50% or more.

中文翻译：

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EXPRESS： Beyond the Pair： 广告中的媒体原型和复杂的渠道协同效应


之前对广告媒体组合的研究主要集中在单个渠道（例如电视）、成对交叉弹性或单个广告活动中的预算优化上。这与广告实践截然不同，其中 （i） 营销人员可用的媒体渠道越来越多，（ii） 媒体计划采用复杂的渠道组合，以及 （iii） 营销人员管理许多（即不止成对）渠道之间的互补性。本研究使用 Latent Class 分析实证学习复杂的通道互补性。潜在类别具有三个有用的属性：（i） 它们考虑了活动中的渠道的非随机选择，（ii） 它们捕获渠道之间的成对和高阶交互，以及 （iii） 它们允许有意义的解释。我们实证描述了最常见的媒体渠道原型，并根据一组常见的品牌相关绩效指标估计它们与一组广告活动的有效性的关系。我们使用了 2008 年至 2019 年间来自世界各地的 1,083 个广告活动的数据集。我们发现，没有一个系统性的 “最佳 ”媒体组合与所有指标的主导绩效相关，但在给定特定指标的情况下，会出现明显的模式。我们发现，在效果良好的营销活动中，传统渠道（电视、户外）通常与数字渠道（Facebook、YouTube）搭配使用。我们还发现，当前的营销实践似乎远非最佳，简单的策略有可能将品牌心态指标提升 50% 或更多。