Google unveils Meridian, a new open-source Marketing Mix Model

Google this week announced Meridian, a new open-source Marketing Mix Model (MMM) designed to help marketers overcome measurement challenges brought on by evolving media consumption habits and privacy concerns.

As advertisers increasingly prioritize comprehensive and privacy-safe measurement, Meridian offers a powerful solution for understanding the full impact of cross-channel marketing efforts.

What is Meridian?

Meridian is an advanced MMM framework built for:

• Innovation: Meridian incorporates forward-thinking methodologies such as calibration via incrementality experiments, integration of reach and frequency, and guidance on search measurement – all applicable across media channels. Google will continue to drive innovation within the platform.
• Transparency: Its open-source nature gives marketers complete control, allowing for customization of code and parameters to suit specific business needs.
• Actionability: Meridian facilitates data-driven decision-making by offering richer data inputs, modeling guidance tailored to its innovations, and cross-channel budget optimization tools. This includes access to YouTube reach and frequency data alongside indexed Google query-volume data.

Why Meridian Matters for Marketers

• Enhanced Measurement in a Complex Landscape: Meridian aims to provide more accurate and actionable insights in the face of fragmented media consumption and privacy regulations.
• Future-Proofing Your Approach: Meridian's open-source foundation helps teams adapt and evolve their MMM strategies in line with industry changes.
• Data-Driven Decision-Making: Meridian's features support scenario planning and budget optimization, enabling marketers to make informed cross-channel media allocations.

Access and Support

Meridian is currently available on a limited basis, with plans for wider release announced soon.

What is Meridian?

Marketing Mix Modeling (MMM) is a valuable tool for understanding how your marketing efforts across different channels drive business results. It helps marketers make smarter budget allocation decisions. However, MMMs can be complex to set up and manage in-house. That's where Meridian comes in.

Meridian: An Open-Source MMM Framework from Google

Meridian is an innovative open-source framework designed to empower marketing teams to build their own sophisticated Marketing Mix Models. It offers several key advantages:

• Privacy-Centric: Meridian doesn't rely on cookies or user-level data, making it a future-proof solution in an evolving privacy landscape.
• Highly Customizable: Unlike some "black-box" MMM tools, Meridian gives you full control. Adapt the code, parameters, and methodologies to fit your unique business needs perfectly.
• Advanced Features: Meridian provides cutting-edge features, including:
  • Geo-Location Modeling: Measure results at a regional level, not just nationally.
  • Bayesian Inference: Incorporate existing knowledge (like past experiments) to enhance model accuracy.
  • Reach & Frequency Integration: Optimize campaigns based on how many people see your ads and how frequently.
  • Budget Optimization: Get recommendations on the best way to allocate your marketing spend across channels.

Why Meridian Matters

• Solve Measurement Challenges: Meridian helps you navigate media fragmentation and privacy concerns to accurately measure the impact of your marketing.
• Data-Driven Decisions: Make informed choices backed by insights on which channels drive the best ROI, and how to optimize your budget for maximum results.
• Future-Proof Your Approach: Meridian's open-source nature lets your team evolve its MMM strategies over time as the industry changes.

Who Should Consider Meridian

Meridian is an excellent option for marketing teams who:

• Want a deeper understanding of their cross-channel marketing performance.
• Desire a high degree of control and customization in their MMM process.
• Have data analysts or scientists comfortable with open-source platforms.