Marketing these days seems like a battlefield, and the most crucial challenge? Budget allocation for maximum impact. We’re not just spenders, we’re smart investors who demand value and results. At Lifesight, we’ve heard your ask, and we’re thrilled to present the Budget Optimizer, an agile approach to smarter marketing campaigns.
Overview
Marketers face key questions that shape their strategies: how much to invest, where to allocate funds, the expected ROI, and progress toward objectives. These core queries form the blueprint to design & execute effective marketing campaigns, guiding financial and strategic decisions.
The Budget Optimizer provides newfound flexibility in estimating channel level budgets, ensuring maximum results while minimizing costs. It simplifies campaign setup and budget management, automatically distributing your ad budget based on individual channel performance. You can easily fine-tune ad spend to match your preferred weekly or monthly budget, enabling unlimited scalability in your marketing performance without the constraints of traditional spending methods.
Unlocking predictive power
Leveraging advanced machine learning and statistical models, the Budget Optimizer empowers you to make data-driven decisions about your budget allocation. It predicts your campaign’s performance based on your prescribed channel budgets, identifies at what point you may hit diminishing returns on your channel investment, and provides a handy budget worksheet so you can hit the ground running.
The perfect balance with continuous optimization
Consistently fine-tuning campaigns can be time-consuming, yet it’s crucial for success. Lifesight’s Budget Optimizer operates as an ‘Always-On MMM’ module, that uses real-time data, enabling small changes with significant impacts everytime the model is refreshed.
Benefits
The Budget Optimizer is an indispensable tool in the marketer’s kit for a variety of compelling reasons:
1. Smarter Budgeting: It ensures your budget is invested where it matters most.
2. AI-powered Foresight: Gain insights into what’s working to make decisions based on data.
3. Exponential ROI: Maximize your returns by optimizing where your money goes.
4. Future-Proof Channel Growth: Predict outcomes and plan for marketing success with a competitive edge.
Plus, it’s a time-saver! No more budget juggling, let automation handle the legwork, freeing up your time for strategic moves.
Getting started with Budget Optimiser
Once your Marketing Mix Model (MMM) is finalized, the Budget Optimizer becomes your weapon. Drawing from historical data, it forecasts the ideal budget allocation for maximum impact. You can:
1. Create weekly and monthly budget plans designed for maximum efficiency.
2. Optimize your spending anywhere from 50% to a whopping 500% of your average four-week paid channel expenditure.
3. Input your Target Return on Ad Spend (ROAS) for revenue-focused KPIs or Target Cost Per Acquisition (CPA) for other performance indicators, and observe a side-by-side depiction of your ad spend across various platforms.
Start optimizing today
Whether you’re aiming for higher ROI, smarter spending, or future-proofing your strategies, the Budget Optimizer has you covered.
