Media Mix Wizard

Now that you’ve connected your data sources and populated your Benchmark Library, you’re ready to create a media mix strategy, also called a project in OptalX. The Media Mix Wizard will guide you through this step-by-step process.

The first step involves defining the basic details of your project, such as giving it a name, specifying the time period it covers, and setting your total advertising budget.

Next, you’ll define your campaign objectives. OptalX allows you to specify what you want to achieve with your advertising efforts. You can assign a weighting to each objective, reflecting its relative importance within your overall marketing goals. These weightings will influence how OptalX allocates your budget across different channels.

OptalX also recognizes that some marketing goals might be qualitative and not easily measured by numbers. The “impact” objective allows you to consider these qualitative factors in your media mix. You can define the impact of a particular channel by completing a short survey within the platform.

The Media Mix Wizard also allows you to account for seasonal trends that might affect your campaign performance. By incorporating seasonality adjustments, you can instruct OptalX to prioritize spend accordingly.

Finally, you’ll configure the benchmark settings for your project. OptalX offers two types of benchmarks to inform your media mix:

Global Benchmarks: This data comes from anonymized campaigns run by other advertisers in your industry. Global benchmarks can be helpful for filling in any gaps you might have in your own data, particularly for channels where you don’t have a lot of historical data.

Brand Benchmarks: This data comes directly from your Benchmark Library.