How Stepstone uses incrementality, MMM and LTV to make better marketing investment decisions

In this episode of Marketing Measurement Matters, we speak with Patrick Luven, Head of Marketing Analytics at Stepstone Group, about how his team turns marketing measurement into a real capital allocation process. Patrick shares how Stepstone structures its marketing analytics team around reusable data products, including lifetime value modeling, forecasting, reporting automation, and incrementality testing. We dig into how they operationalize test results through an incrementality committee, how MMM fits into strategic budget decisions, and why measurement only matters when it changes what happens next. We also discuss: * Why marketing should be treated as capital allocation, not just budget allocation * How Stepstone uses incrementality testing to inform channel decisions * Why MMM and forecasting sit alongside operational measurement * What it takes to build a measurement culture that actually influences spend * Why Stepstone is moving beyond last-click toward more meaningful decision-making This one is especially relevant if you are thinking about how to make marketing measurement useful in day-to-day investment decisions, not just in reporting decks.