Google's Meridian Revamped for Smarter Marketing Spend
Google has revamped Meridian, its open-source Marketing Mix Model (MMM), transforming it from a mere measurement tool into a strategic business partner for optimizing marketing spend. The updates aim to enhance decision-making by integrating data insights directly into financial planning and resource distribution.
The revamped Meridian now incorporates Marginal ROI (mROI) priors, helping marketers pinpoint where the next dollar delivers the highest return on investment. This is achieved by analyzing past campaign performance.
Marketers can now factor in pricing, promotions, and other business levers to measure their impact on sales more accurately. Enhanced binomial adstock decay functions track how upper-funnel media influences purchases weeks later, providing a more precise understanding of what drives sales. The updates also allow for channel-level contribution priors, guiding the MMM with business knowledge for improved insights.
With these updates, Meridian now stands as a strategic business partner, aiding marketers in making smarter budget decisions across immediate conversions and longer-term brand impact. The platform boasts 30 certified global partners and an active Discord community, ensuring effective deployment and business growth guidance.
