Media and Media Spend Inputs #1069
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If we only have reliable media spend data but not impressions/clicks, what inputs do we provide for Do we use the same spend variables for both parameters because Meridian seems to need both inputs? coord_to_columns = load.CoordToColumns( |
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Replies: 1 comment 2 replies
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Hello @rajeshpaleti999 , Thank you for contacting us! You should not use the same spend variable for both media and media_spend. Media is for exposure metrics (impressions, clicks), while media_spend is for cost metrics. Meridian uses spend data to calculate ROI. If you don't have exact spend data, we recommend using approximate spend values even if they are unreliable, which will let you obtain an estimate of ROI. If ROI is not a concern, channels without spend can be modeled as organic media channels. However, at least one paid media (or reach and frequency) channel is mandatory. For channels where you lack spend data or don't need ROI calculation (e.g., public relations, organic social media), classify them as organic channels to measure their effectiveness without financial input. Kindly refer to Github discussion #731, where we have discussed handling unreliable spend data in Meridian in detail. Feel free to reach out for any further queries or feedback regarding Meridian. Google Meridian Support Team |
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Actually, I was talking about the case when you only have reliable spend data but not media (impressions/clicks). So, all channels are channels with spend but none with exposure metrics. Meridian needs at-least one channel with 'media' exposure metrics, right? In this case, can I train the model with same "media" and "media_spend"? It is just that all channels will have the same "CPU" (cost per unit media) but the ROI calculations are still valid? I just came across this response to previous question that seems to suggest "Media units can be spend, impressions, clicks, or any unit you choose." |
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Hello @rajeshpaleti999 , Thank you for clarifying. My previous response was under the assumption that you didn't have reliable spend data. As mentioned in your attached discussion, you can use spend as the media exposure metric itself if you don't have reliable data for an exposure metric like impressions or clicks. Meridian uses media_spend for the ROI denominator, which is important for setting ROI priors and for post-modeling analysis like budget optimization. However, all of the core modeling including population scaling, Adstock, and Hill transformations are done on the media variables containing the chosen exposure metric which can be spend, impressions, clicks, etc. Feel free to reach out for any further queries or feedback regarding Meridian. Google Meridian Support Team |
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Hello @rajeshpaleti999 ,
Thank you for clarifying. My previous response was under the assumption that you didn't have reliable spend data.
As mentioned in your attached discussion, you can use spend as the media exposure metric itself if you don't have reliable data for an exposure metric like impressions or clicks. Meridian uses media_spend for the ROI denominator, which is important for setting ROI priors and for post-modeling analysis like budget optimization. However, all of the core modeling including population scaling, Adstock, and Hill transformations are done on the media variables containing the chosen exposure metric which can be spend, impressions, clicks, etc.
Feel free to re…