Bayesian Thinking & Audience Targeting: Chasing the Inverted Unicorn with Andrew Bloom

We are joined by data-nerd and audience marketing expert Andrew Bloom from Neustar's global business solutions. Andrew shares insights on data-driven marketing, Bayesian thinking, and the intricate world of programmatic advertising. The hosts delve into Andrew’s journey from freelance hustler to ad tech expert, providing listeners with a comprehensive look into how psychological principles and data analytics shape modern marketing.

Programmatic Advertising & Auction-Based Marketing:
- Understanding different types of auction mechanics in digital advertising (e.g., Google's non-truthful Bayesian generalized second-price auction).
- The importance of understanding the auction game theory behind platforms like Google, Facebook, and LinkedIn.

Marketing Mix & Bayesian Thinking:
- How Bayesian inference applies to marketing decision-making.
- The role of biases in influencing marketing data interpretation.

Marketing Attribution & Measurement:
- The challenges of assigning credit to various marketing channels.
- Importance of marketing mix modeling (MMM) in understanding channel performance.
- How Bayesian thinking can improve marketing optimization.

Marketing Mix Modeling & Statistical Modeling:
- Utilizing econometric models to measure marketing impact across different channels.
- Creating predictable formats to decompose marketing signals and understand their effects.
-The significance of "sine wave" messaging strategies for better attribution.

Optimization & Channel Interaction:
- The interconnectedness of various marketing channels.
- CRO (Conversion Rate Optimization) as a fundamental approach to improve performance.
- Tailoring media strategies for effective retargeting and brand positioning.

Thank you for joining us at Manipulation Games: Psychology & Marketing podcast.  Tune in for a data-packed conversation that will change how you approach marketing strategy!