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We know–data models can be intimidating. As analytics and science remain central to Marketing’s success, models are now among the primary vehicles every marketer needs to know how to develop and leverage. If you’ve already dived into the deep end on models, congratulations. On the other hand, if you’re just dipping your toe into the water, have no fear, because while there may be a bit of a current, it is time to venture forth.

Mathematical models help us describe and explain a “system,” such as a market segment or ecosystem. Marketing models enable us to study the effects of different actions, so we can begin to make predictions about customer behavior, such as purchasing behavior. There are all kinds of mathematical models-statistical models, differential equations, and game theory.

4 Models for every Marketing model library.

Define the scope of your Marketing model.

Define the Scope of Your Model

Regardless of the type of model, all models use data to transform an abstract structure into something we can more concretely manage, test, and manipulate. As the mounds of data pile up, it’s easy to lose sight of data application. Because data has become so prolific, you must first be clear about the scope of the model and the associated data sources before constructing any model.

Models for Every Marketing Organization Library

Marketing Models for Every Marketing Library

You’re ready to take the plunge–good for you! What models should be part of every marketer’s library? Whether a novice or a master, we believe that every marketer must be able to build and employ a number of primary models with these four being your starting point:

  1. Customer Buying Model: Illustrates the purchasing decision journey for various customers (segments or persona based) to support pipeline engineering, content, touch point and channel decisions.
  2. Market Segmentation or Market Model: Provides the vehicle to evaluate the attractiveness of segments, market, or targets.
  3. Opportunity Scoring Model: Enables marketing and sales to agree on when opportunities are sales worthy and sales ready.
  4. Campaign Lift Model: Estimates the impact of a particular campaign on the buying behavior.

Incorporate these four models into your Marketing initiatives. For those who have already developed models within your Marketing organization, we would love to know whether you have conquered these four, or even whether you agree these four should be at the top of the list. As always, we want to know what you think, so comment or tweet or contact us with your response!

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