𝟱 𝗪𝗮𝘆𝘀 𝘁𝗼 𝗢𝗽𝘁𝗶𝗺𝗶𝘇𝗲 𝗬𝗼𝘂𝗿 𝗠𝗮𝗿𝗸𝗲𝘁𝗶𝗻𝗴 𝗕𝘂𝗱𝗴𝗲𝘁 𝗮𝗻𝗱 𝗡𝗮𝗶𝗹 𝟮𝟬𝟮𝟰 𝗞𝗣𝗜𝘀 𝗮𝘀 𝗮𝗻 𝗘𝗰𝗼𝗺𝗺𝗲𝗿𝗰𝗲 𝗕𝗿𝗮𝗻𝗱 𝘂𝘀𝗶𝗻𝗴 𝗔𝗜

With only a few months left in 2024, ensuring your marketing budget is used effectively is essential. AI can help you refine your strategies, boost your ROI, and reach your key goals before the year ends. Here are five ways to use AI to optimize your marketing budget.

🤖 Use AI for Advanced Attribution:

Move beyond last-click attribution with AI-driven multi-touch attribution models. AI analyzes the entire customer journey, helping you understand which touchpoints drive conversions. By optimizing your budget toward these high-impact areas, you ensure more effective spending and maximize ROI across all channels.

🌍 Use AI for Geo-Based Incrementality Tests:

Utilize AI to run cost-effective, dynamic geo-based incrementality tests. AI can identify optimal regions and times for testing, reducing costs while providing precise insights into your campaigns' impact. This allows you to make data-driven adjustments without freezing large portions of your budget.

📈 Optimize Marketing Mix Modeling (MMM) with AI:

AI simplifies the complex task of MMM by processing vast amounts of data in real-time. Incorporating AI into your MMM strategy lets you quickly identify which channels and tactics are delivering the best results. This enables you to reallocate your budget dynamically, ensuring you're constantly investing in the most profitable areas.

💰 Enhance Post-Purchase Surveys with AI Analysis:

Combine post-purchase survey data with AI analytics to uncover deeper customer insights. AI cross-references survey responses with actual behavior, eliminating biases and providing a more accurate picture of what drives conversions. Use these insights to fine-tune your marketing strategy and align your budget with what truly resonates with your audience.

🎉 Focus on AI-Enhanced Performance Metrics:

Move past vanity metrics like clicks and impressions using AI to identify which metrics correlate with conversions. AI tools analyze patterns across vast datasets, helping you focus your budget on strategies that drive real results. This ensures that every dollar spent is geared toward achieving your key performance indicators.

Let’s do this!

Raquel