Media Optimization: Are You Following These 3 Best Practices?

mpo best practices detail

Jose Orue, Sr. Product Manager

Published 02/13/2024

On average, Measured brands that implemented Media Plan Optimizer recommendations increased incremental sales by 8% in 3 months.

It’s a statistic we love to share and with good reason. In this post, we want to dive in and talk about media planning tools and, full disclosure, how Measured’s Media Plan Optimizer, or MPO, can help you ensure you’re following best practices and getting what you need to grow your brand and increase incremental sales.

*Note: We sincerely apologize for how many times you are about to read related terms of the word ‘optimal.’ 

Optimize to the right metrics

The first best practice we want to highlight sounds very straightforward: Your media plan optimization process must optimize to the right metric.

This KPI, which we will call the ‘North Star’ metric, may be different for each brand. For the sake of simplicity, it’s most likely going to be incremental Return On Ad Spend, ROAS(i), or incremental Cost Per Order, CPO(i).

Media Plan Optimizer can allocate your budget based on your North Star metric, whether you decide that is target ROAS(i), CPO(i), or incremental sales. All you need to do is input your goals and let incrementality do the rest.

Optimize at the right frequency 

Your brand needs to optimize at the right frequency. Basically, ask yourself the question: Should you be optimizing daily, weekly, or monthly?   

In this scenario, we’re wading into the territory of marketers doing their planning exercises. Most marketers are assigned quarterly or monthly budgets, so you have a decent idea of how much you can spend in the next one, three, maybe even six months.

The real concern you’re addressing here is not how much you are able to spend but where you’re spending that money. 

Where you allocate your media spend, how often you gauge each channel’s performance, and how often you make changes really depends on your business and resources. Most brands optimize budget allocations at least once a month. The goal for each optimization round is to calibrate to incremental performance, make iterative changes, and then reassess in due time. Every time you optimize budgets is an opportunity to get more for every dollar you spend. 

Planning at Different Levels

Marketers often plan and manage budgets at different levels and optimize those at different cadences. For instance, some optimize channel and tactic budgets monthly while making weekly optimizations to the campaign budgets. Others are more hands-off with campaign budget management, relying on the ad platforms to allocate the campaign budgets. There are many ways to run a successful marketing program, and the Media Plan Optimizer can flexibly adapt to your brand's strategy. 

With the MPO, you can optimize tactics and campaigns separately or simultaneously. You can share media plans with colleagues, get their feedback, and update budgets accordingly. Want to optimize FB campaign budgets every week when the portfolio budgets change monthly or quarterly? The MPO makes it easy. 

Conclusion

Media measurement and optimization aren't getting any easier in 2024, and we highly suggest finding the right partner to help you navigate the changing marketing landscape. For a look at what's happening and what we foresee this year, download our short "Top 5 Media Measurement & Optimization Predictions in 2024" eBook to help you stay ahead of the competition.