Once the model is ready, you can access the Budget Optimiser to optimize your future ad spends. Based on the historical data, the model predicts what should be the optimum distribution of the budget that will bring maximum results.
The model automatically optimizes your budgets for the period of next week. In the report, you can view the optimized budget plan and the estimated performance of your marketing activities as suggested by the marketing mix model.
The optimized budget plan will be represented in the following date range filters -
Next Week: The coming week from Monday through Sunday
Next Month: The coming month from the first day through the last day of that month
The diminishing returns curve shows the optimal spend level for scaling your spend without overspending.
You can also change your budget and reallocate the budget for each channel based on the new analysis
Select the percentage of past spend you want to optimize. The budget can be set from 50% to 500% of the past spend, which is the average ad spend over the past four weeks.
Select the period you would like to optimize the budget for. The budget period can be set as “Next week” or “Next month”.
The platform will distribute the budget across channels as per the best model and you would be able to see original vs optimized ad spend distribution.
You also have the option to input Target ROAS (if KPI data type is Revenue) or Target CPA (if KPI data type is anything except Revenue).
The platform will predict the budget and distribute it across channels as per the best model for target ROAS/CPA and the user would be able to see current vs optimized ad spend plot for all platforms.
If you have any further queries, please write to us at [email protected] and we'll get back to you at the earliest.