Google’s open-source marketing mix modelling tool, Meridian, is now available publicly, while Amazon shifts its advertising strategy dramatically.
In a significant development for digital marketing, Google has announced that its open-source marketing mix modelling product, Meridian, has transitioned from a testing phase to a fully downloadable version available on GitHub. As reported by AdExchanger, Meridian has undergone testing with “hundreds of brands globally,” showcasing its capacity to aid companies in navigating the complexities of modern advertising.
Meridian is structured with accessibility in mind, built on Python, a programming language prevalent among ad tech and marketing developers. This positions it as a competitor to Meta’s marketing mix modelling tool, Robyn, which utilises R—a language more attuned to data scientists and statisticians. Google’s Senior Director of Data Science, Harikesh Nair, noted that traditional marketing mix models (MMMs) have often struggled to accurately measure the effectiveness of performance media and AI-powered campaigns, stating, “They lack a modern approach, which may lead to inaccurate budget decisions.”
Meanwhile, Amazon Prime Video is marking a year of operations in the advertising sector. As highlighted by Digiday, Amazon has swiftly established itself as a formidable competitor in connected TV (CTV) and streaming media advertising. Unlike other streaming services that introduced ad-supported tiers with options for ad-free viewing, Amazon has opted to mandate advertisers for their standard, establishing a notable difference in its business model. Additionally, Amazon has pragmatically set its market rates, allowing for more flexibility compared to platforms like Netflix and Disney+, which initially imposed set high costs for advertisers. This shift in pricing dynamics has reportedly garnered favour from agency buyers, as Amazon’s approach has pressured competitors to lower their advertising costs.
In a contrasting narrative, TechCrunch has reported findings from a study conducted by Common Sense Media, which illuminates a growing distrust among American teenagers towards major technology companies, including Google, Apple, Meta, and TikTok. The survey, involving 1,000 teens aged 13 to 18, revealed that 64% of respondents do not trust these companies to prioritise their mental health and safety over profit motives. Furthermore, almost half (47%) expressed scepticism about Big Tech’s responsible management of AI technologies, with many youths increasingly concerned that generative AI technologies might compromise the accuracy of online information.
This perception of mistrust starkly contrasts with other trends indicating that younger generations, particularly those aged 18-24, are utilising AI tools to enhance their navigation of digital content. For example, a survey conducted by The Brandtech Group and YouGov indicated a growing acceptance of AI among this demographic, suggesting that while the technology itself may not be the issue, the perceived prioritisation of profit over user safety remains a point of contention.
With these emerging trends in AI automation and digital engagement, the landscape surrounding advertising and consumer trust continues to evolve. The shifts in models and technology pose significant questions about the future of both marketing effectiveness and the ethical responsibilities of technology companies in maintaining consumer trust. As the industry grapples with these issues, the actions of major players like Google and Amazon will undoubtedly shape the approach companies take in leveraging AI and other technological advancements.
Source: Noah Wire Services
- https://www.financialexpress.com/business/brandwagon-google-unveils-meridian-open-source-tool-to-enhance-marketing-mix-models-and-budget-allocation-3731294/ – This article supports the claim that Google has launched Meridian, an open-source marketing mix model (MMM) designed to help marketers optimize their advertising budgets. It also mentions that Meridian has been tested with hundreds of global brands.
- https://martech.org/google-releases-its-open-source-marketing-mix-model-to-all/ – This article corroborates the information about Meridian being available on GitHub and its ability to help marketers measure the effectiveness of their efforts across various channels.
- https://developers.google.com/meridian – This page provides details about Meridian, including its features and how it addresses key measurement challenges in marketing mix models.
- https://www.adexchanger.com/ – Although not directly linked, AdExchanger is mentioned as a source for information about Meridian’s testing with hundreds of brands globally.
- https://digiday.com/ – Digiday is referenced as a source for Amazon Prime Video’s impact in the advertising sector, particularly in connected TV and streaming media.
- https://techcrunch.com/ – TechCrunch is mentioned as a source for a study by Common Sense Media regarding American teenagers’ distrust of major technology companies.
- https://www.commonsensemedia.org/ – Common Sense Media conducted a study highlighting teenagers’ distrust of major tech companies, which contrasts with trends of younger generations using AI tools.
- https://www.brandtechgroup.com/ – The Brandtech Group is involved in a survey indicating a growing acceptance of AI among younger demographics, contrasting with concerns about tech companies’ priorities.
- https://yougov.com/ – YouGov is mentioned as a partner in a survey showing younger generations’ acceptance of AI tools, highlighting a nuanced view of AI’s role in digital engagement.
- https://www.noahwire.com – Noah Wire Services is listed as the source of the original article, providing context for the trends and developments in digital marketing and consumer trust.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
9
Notes:
The narrative includes recent developments such as Google’s Meridian transitioning to a fully downloadable version and Amazon Prime Video marking a year in advertising. These are contemporary events, indicating the content is fresh.
Quotes check
Score:
8
Notes:
There is a quote from Harikesh Nair, but no specific online source could be found for its earliest reference. However, the context suggests it is a recent statement.
Source reliability
Score:
8
Notes:
The narrative originates from reputable sources like AdExchanger and Digiday, known for their coverage of digital marketing and advertising. However, the reliability could be higher if it were from more traditional news outlets like the BBC or Financial Times.
Plausability check
Score:
9
Notes:
The claims about Google’s Meridian and Amazon Prime Video’s advertising strategies are plausible given the current trends in digital marketing and technology. The distrust among teenagers towards tech companies is also consistent with recent surveys and studies.
Overall assessment
Verdict (FAIL, OPEN, PASS): PASS
Confidence (LOW, MEDIUM, HIGH): HIGH
Summary:
The narrative is fresh, includes plausible claims, and originates from generally reliable sources. While the quote’s original source could not be verified, the overall content appears accurate and relevant to current developments in digital marketing and technology.
