Today we are launching Meridian, the Open Source Marketing Mix model (MMM) built by Google, available to all marketers and data scientists. To support marketers on their implementation, we also introduce a partner program with over 20 measurement partners trained and certified at Meridian.
Last year we shared our vision for a more transparent, innovative and actionable approach to an MMM designed to help you better allocate your budget in today’s marketing landscape. After testing it with hundreds of brands globally and incorporated their feedback, Meridian is now ready for everyone to take advantage of their benefits.
Brands found, an Australian financial company of presence in the UK, USA and Canada, gained action insights with Meridian because of its ability to adapt to their needs.
“At Finder, our mission is to help people make better financial decisions and we try to apply this approach to everything we do – including our own marketing. With Meridian we now have much more confidence in our ability to measure the impact of our investment. – Jennifer Snell, GM Marketing & Loyalty, Finder
Make smarter marketing decisions with marketing mix models
Consumers engage with your brand while streaming, rolling, searching and shopping often make them at the same time. To adapt to this reality, you need a way to understand how your marketing efforts drives real business results. MMMS helps you do so with established methods of budget distribution that take into account all the elements of your business. They may also consider the impact of external factors such as seasonal determination, pricing and finances. Because they depend on aggregated data, mmms performance measures in a privacy -centric way. MMMS goes beyond the immediate influence, capturing how brand-building activities such as TV commercials, ads on YouTube and Google or social media campaigns affect future purchases and new customer purchases.
Meridian: A more modern approach to mmm
Traditional MMMs built for offline media and branding have historically been unable to fully measure performance media, such as search ads and AI-driven campaigns. They lack a modern approach, which can lead to inaccurate budget decisions. They may not update assumptions based on incrementality experiments or provide granular insights, such as optimal frequency or regional shades.
Instead of incorporating a modern MMM, such as Meridian, your measuring toolbox helps create better business results. It depends on the Bayesian causal inferation that allows you to mix your prior knowledge with data in the real world and reveal the true step -by -step effect of your marketing. But it does much more for you.
- Uncover the true value of performance media: With Meridian, advertisers will be able to access the MMM data platform. This means that you get core data (ie impression, click and cost) for Google Media, but also new value added dimensions such as Google Query Volume. So you can get more accurate insights, including a more realistic picture of how your paid search dollar actually drives results, especially as the search has a high connection with sales.
- Customize to your needs: Meridian, as an open source modeling frame, offers full transparency so you can examine its code and methodology. You have control to change the code and model parameters that fit your specific needs.
- Make accurate budget decisions: Meridian analyzes campaign performance based on the KPIs that make sense to your business, including sales, site visits, profits and conversions. As a result, you can understand historical results and run multiple optimization scenarios and best use your budget. Meridian also allows you to include other non-media variables to factor in the effect of pricing and campaigns on KPIs.
- Range and frequency, redefined: MMMs have historically measured video in impressions, but impressions tell only part of the story. Ten impressions could mean that ten people reached, or one person reached ten times. That’s a big difference and these two scenarios have meaningfully different influences on your business results. Meridian accounts for range and frequency – not just impressions – to help you maximize the impact of your video investments.
- Experiments as powerful prior: Meridian easily integrates incrementality experimental results as a prior, agnostic of the channel or experiment. This means that your model can be calibrated with results in the real world, for more accurate results that are directly adapted to your actual business goals.
In the coming months, we will continue to invest in Meridian by adding new features and improving the methodology to make it even more powerful. You can access Meridian by downloading its code on GitHub.
Ready to get started with Meridian?
We also launch a partner program with a selected group of agencies and measuring providers. These companies have been strictly trained in Meridian Best Practices and have access to the most robust and granular MMM data for Google Media. Partners like Analytics Edge are ready to help marketers make better budget decisions.
“Analytical edge is pleased to use our extensive MMM experience and to collaborate with Google on Meridian. Meridian integrates technical innovations to assess the indirect effect of searching on marketing channels in the consumer journey. It improves the measurement of” range “and” frequency ” For YouTube campaigns it increases to help advertisers with campaign planning. – Santosh Nair, founder and instructor, analytical edge
This global network of experts can help you get the most out of Meridian, including:
- To provide support and guidance from experts to implement Meridian and optimize your investments.
- Improving your media investments with access and guidance on Meridian Best Practice.
- Helps you tailor your measurement to your needs. With Meridian’s open source nature, you get complete transparency in how its model works, including the ability to adjust parameters to adapt to your unique business goals.
Connect with a Meridian -certified partner today and find out how to unlock the full potential of modern MMMs, gain deeper insight into your marketing impact and drive smarter marketing decisions.