Answering to Andrea's question on how to choose the most effective marketing mix

Measuring the impact of media channels/halo effects on sales is quite complicated. Some companies, especially in the consumer goods and telecom industries, are starting to use marketing mix models to have a more precise measure of those effects. Two years ago I had the chance to help building up one of those models. This method uses econometric techniques to regress all company marketing levers (e.g., variables on the distribution channel, price scheme, product design, advertising channels, etc.) on sales or whatever the company might be interested in. The regression measures and quantifies the impact of the different advertising channels on sales and it can also give you a good measure of the halo effect of the different channels the company used. Depending on the data you are using on the model, it can get so specific to quantify the impact of $1 invested on the “X” TV channel, with a 30” format, during prime time. Saying that, we have to take into consideration the fact that the model is an approximation of reality, thus its results should always be combined with the expertise and knowledge of media experts.