Measured introduces simulation-based market selection process for new geo tests
In our effort to continue pushing the boundaries of our geo-testing application, we are pleased to announce our new simulation-based market selection process, now automatically applied to all new geo-test designs.
What is Market Selection?
Market selection is a critical aspect of the geo-test design process (read more about geo-test design in our comprehensive guide). By selecting the optimal test markets in which to run the test, the Measured platform works to maximize result accuracy while minimizing media holdout requirements, enabling brands to scale their testing practice with ease and confidence.
Did You Know? Measured brands who ran 8 holdout tests in the past year experienced an average blended ROAS improvement of 24% Year over Year compared to those who didn't.
What is Simulation-Based Market Selection?
The enhanced market selection update means the geo-test design application will now automatically run hundreds of thousands of simulations to identify the optimal test markets for every experiment.
Our previous market selection process already leveraged industry-leading A/A analysis to identify the best test market. Building on that, our data science engine will now run this simulation up to half a million times for every test design - automatically. This is an exponential leap forward for marketers running geo-tests!
The Benefits of Simulation-Based Market Selection
All Measured brands will benefit from improved accuracy in the form of Mean Absolute Percentage Error (MAPE). Our industry-leading test accuracy average of <3% has now been improved by an additional 76%!
This improved accuracy not only means better results but access to more testable channels, thanks to reduced media holdout requirements: Some brands may realize reduced conversion requirements, resulting in less spend required to execute a test.
Stay tuned for upcoming product updates; we have some exciting new enhancements coming soon! Each of these updates empowers Measured brands to make informed media investment decisions, optimize their portfolio, and drive better results for their business.
In the meantime, to learn how Measured can help your brand grow, schedule a demo today.