The eCommerce Marketing Podcast walks you through everything that goes into ecommerce marketing — from inbound marketing to paid advertising to conversions. Learn the strategies top marketing experts use to grow their businesses.
Michael Kaminsky is the co-founder of a next-generation marketing mix modeling startup, Recast. He’s a statistician, entrepreneur, and marketing science researcher who loves helping companies avoid wasted marketing spend through advanced analytics.
In this episode, you will learn
- The most common mistakes ecommerce operators make when measuring their marketing effectiveness
- Key pitfalls in marketing measurement that often lead to wasteful spending and how can businesses effectively recognize and avoid these traps
- What are the top recommendations for ecommerce operators to overcome the challenges in accurately measuring their marketing ROI
- How emerging technologies like AI and machine learning are transforming the landscape of marketing measurement in the ecommerce sector
- Future trends in ecommerce marketing measurement that businesses should prepare for
For show transcript and past guests, please visit https://www.ecommercemarketingpodcast.com
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https://www.youtube.com/channel/UC3PgT0NOGzpdPGQtBK0XLIQ
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Past guests on the ecommerce marketing podcast include Neil Patel, Nemo Chu, Luke Lintz, Luke Carthy, Amber Armstrong, Kris Ruby and many more.
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In this episode of the eCommerce Marketing Podcast, host Arlen Robinson interviews Michael Kaminsky, co-founder of Recast, a next-generation marketing mix modeling startup. Michael, a statistician, entrepreneur, and marketing science researcher, shares his insights on how e-commerce businesses can avoid wasted marketing spend through advanced analytics.
Key Takeaways
- Introduction and Michael’s Background ([00:01] – [03:59])
- Michael’s journey from econometrician and healthcare research scientist to data scientist at Harry’s and eventually co-founding Recast.
- His passion for helping companies optimize marketing spend through advanced analytics.
- Common Mistakes in Marketing Measurements ([04:05] – [06:50])
- The importance of understanding incrementality: the causal relationship between marketing activities and sales.
- Differentiating between platform ROAS (Return on Ad Spend) and true incrementality.
- Pitfalls Leading to Wasteful Marketing Spend ([08:21] – [11:57])
- Over-reliance on in-platform ROAS numbers, which can be biased.
- The value of experimentation in marketing to determine true effectiveness of campaigns.
- Advanced Analytics in Enhancing Marketing Measurements ([12:25] – [18:54])
- Using the right tools for different business stages.
- Building an experimentation muscle: conducting tests and analyzing results to optimize marketing strategies.
- The role of sophisticated platforms like Recast for larger, more complex marketing environments.
- Impact of AI and Machine Learning on Marketing Measurement ([19:42] – [22:35])
- AI’s role in advanced targeting and optimization in marketing platforms.
- The need for skepticism and validation when using machine learning models for marketing measurement.
- Future Trends in eCommerce Marketing Measurements ([24:35] – [29:47])
- The shift towards omnichannel marketing and its impact on marketing effectiveness measurement.
- Preparing for changes in customer tracking and data visibility due to evolving privacy regulations.
Guest Info
Michael Kaminsky
Co-founder of Recast
LinkedIn: Michael Kaminsky
Twitter: @MikeKaminsky
Website: Recast
