Google has announced the global launch of Meridian MMM, an open-source marketing mix modeling framework, making it available to all marketers worldwide. The solution aims to help advertisers measure marketing impact and optimize budget allocation through privacy-safe analysis.
What is Meridian MMM?
Meridian is a highly customizable modeling framework based on Bayesian causal inference that enables advertisers to set up and run their own in-house marketing mix models. The framework can handle both large-scale geo-level and national-level data analysis.
The solution helps marketers answer critical questions about:
- Marketing channel impact on revenue and KPIs
- Marketing return on investment (ROI) measurement
- Marketing budget optimization for future campaigns
Advanced Measurement Methodologies
Google has integrated three distinctive methodologies in Meridian to enhance cross-channel media budget decisions:
- Enhanced Video Measurement: Capability to model YouTube reach and frequency
- Performance Media Analysis: Improved insights into paid search contributions through Google search query volume analysis
- Accuracy Calibration: Integration of incrementality experiments across channels
Meridian operates as a privacy-safe solution that doesn't rely on cookies or user-level information. Instead, it utilizes aggregated data to measure impact across marketing channels while accounting for non-marketing factors that influence sales and other KPIs.
Google has introduced a certified measurement partner program to assist marketers in implementing Meridian. The solution comes with comprehensive technical documentation, and its code repository is publicly available on GitHub. Google has also published its methodology research to ensure transparency in result derivation.
As an open-source solution, Meridian allows marketers to use the framework as is, build upon it, or utilize specific components that suit their needs. Importantly, user data remains private and is not shared with Google during implementation or operation.
