The number one challenge for marketers like you today is scaling paid media campaigns efficiently while meeting revenue goals, according to our clients. Solving budget allocation across channels and campaigns to maximize revenue or maintain profitability is particularly complex. We know the hurdles you face to overcome this challenge are many: unknowns such as campaign interactions, competitor bidding, economic downturns, and shifting trends—to name just a few.
Existing solutions are inefficient at best. Marketers are forced to use a combination of platform reporting, manual calculations, and honed gut instinct to try to solve the problem—but the time suck pulls you away from other critical tasks. The inaccuracies and lack of insights into how campaigns affect each other also make the ROI of these efforts questionable.
You can finally solve this challenge using our new feature that we built by tapping into our team’s mix of engineering and marketing expertise.
Prescient AI’s Marketing Mix Optimizer
You may currently struggle knowing exactly how to shift media budget allocations between campaigns. You also know the campaigns you have running aren’t optimal, but there’s rarely any extra money to spend to test out finding a better paid media budget allocation when there are goals to hit.
On top of all this, you have to understand, measure, and even anticipate the outcomes from your cross-channel media spend before requesting more budget. This hasn’t been possible until now.
Meet our Marketing Mix Optimizer, a tool that helps Prescient AI users predictively reallocate or shift their media budget in a way that yields an optimal revenue and ROAS outcome—without having to ask for a single dollar in budget increases.
Using this tool, you can now:
- Optimize media spend across an entire portfolio, at the channel level, or a selection of campaigns
- Predict allocations for the next 7, 14, or 28 days with fresh results unique to their brand daily
- Leverage confidence scores to empower or bolster spend decisions
How it works
You need to do very little to start using this feature to optimize your budget. The first time you use the feature, you’ll configure a few simple inputs:
- forecast timeframe (how far into the future you wish to allocate and predict)
- campaigns to be included
- desired spend (sticking with what you spent in the last time frame, or tweaking up and down a little bit)
You’ll get results in seconds with recommendations of which campaigns to increase or decrease, as well as the suggested budget allocation for each. Also, we know that every brand is unique, so we made sure you can set budget limits and override the allocation for previously committed spend as well as tweak the optimizer’s output to align to your larger campaign strategy.
After you review, you’ll get to save a final campaign-level allocation suggestion and impact summary that you can easily share across your organization for approval and/or discussion.
Under the hood
While we set out to make the Marketing Mix Optimizer work with the click of a button, our team of leading data scientists used their decades of experience and state-of-the-art probabilistic measurement behind the scenes to make it happen.
The Marketing Mix Optimizer is a true meeting of the minds of our data science and marketing experts. Our CTO has deep experience building predictive models over his career—and now he’s applying math to another optimization problem: how to use your marketing budget. We also tapped into the years of experience of our marketing team to guide the development in ways best suited for how marketers like you work every day.
Now, our Marketing Mix Optimizer uses this technology to run millions of possible spend and outcome scenarios—all using your unique data—to find your optimal budget spend.
Highlights of the Marketing Mix Optimizer
What truly sets the Marketing Mix Optimizer apart from other budget allocation tools is that it’s powered by cutting-edge AI technology that learns your unique business. No other brand is just like yours, so our technology learns your seasonal trends, spending patterns, and more to determine the best budget allocation for you and only you.
But there’s even more you can expect from the Marketing Mix Optimizer:
- Maximized Results: Discover your optimal allocation to uncover more revenue and ROAS instantly
- Confidence: Feel secure acting on the results you’re seeing with confidence scores for each scenario
- Flexibility: You choose your budget, allocation limits, and campaigns to be included
- Speed: Allocate your marketing budget in seconds
- Constant Improvement: Every day the model gets smarter with new data added
- Simplicity: Remove the burden of manual analyses by configuring a scenario in a couple of clicks
- Granularity: Edit results to customize outcomes to your business needs
Step into the future with predictive media planning
Discover how easy it is to plan the growth of your business with accurate predictions on revenue and ROAS. Finding your optimal media spend allocation is attainable and even simple with these tools, recommendations, insights, and confidence scores. Not yet using Prescient AI? Book a demo so we can show you around using your own brand’s data.
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