Google's Meridian: A Free Marketing Mix Model for Smarter Ad Spend

Google has announced that its marketing mix modeling measurement system, Meridian, will now be available to all marketers and data scientists worldwide. This open-source platform aims to help advertisers better understand the impact of their marketing efforts by providing transparent and customizable tools. To support the implementation of Meridian, Google is also launching a certified partner program with over 20 measurement experts trained to assist advertisers.

Meridian utilizes Bayesian causal inference, allowing advertisers to combine prior knowledge with real-world data to determine the true incremental impact of their marketing strategies. Unlike traditional models that may not update assumptions based on incrementality experiments or provide granular insights, Meridian offers a more modern approach. It analyzes campaign performance based on key performance indicators such as sales, website visits, and conversions, helping marketers make more accurate budget decisions.

Google tested Meridian with hundreds of brands globally, incorporating their feedback to refine the platform. Companies like Finder, an Australian financial firm operating in multiple countries, have already benefited from the platform's customization capabilities. In the coming months, Google plans to add new features and improve the methodology, making the platform available by downloading its code on GitHub. This move reflects Google's commitment to contributing to the industry by introducing new methodologies for advertisers to measure their marketing efforts.

Read more at MediaPost.