MIM Planning Summary | Can I set my own budget in my model?

Yes! With User-Defined Optimization, you can set your own budget in your Marketing Impact Model. 

The Why

The model predictions are built based on your historical spend. It works from the assumption that your historical spend will be similar to your future spend. However, we all know that isn't always the case. 

So what reasons you might need to set your own budget? Below are a few examples: 

• You spent a lot of money on one thing, such as an event, that is typically not representative of your typical marketing spend, so it is inflating your numbers. 
• You got a huge increase in budget, so your historical spend is way lower. 
• You know exactly what your budget is and want recommendations for that specific amount. 

The What

Once implemented, your budget appears in your Predictions scatter plot as a purple dot labeled "Your Budget". In the image below, you can see that historically, this client has performed around the $400k range, but suddenly the have an increase of a budget to around 2 million (Obviously, your budget probably won't be this extreme unless you are lucky)! 

Your budget will also show up in your Pacing Summary tab so that you can pace to it with your actual spend. 

The How

Submit a ticket for the team to set you up with our Custom Model Budgets Google Sheet. 

This sheet will provide a Scenario Name to match those in the dashboard, a budget, and the client to which you'd like the budget applied. 

At this time, you can only create budgets for the five scenarios above. Custom scenarios and Calendar Year are not available for User-Defined Optimization.