Experimental Plan [ Real-world implementation problems ] #4
Description
Dear developers,
I hope this message finds you well. I am writing to express my gratitude for the matched_markets library and raise some concerns about its practical implementation.
Firstly, I would like to inquire about budget allocation in the experimental plan. Once we have the experimental design ready, the marketing specialist may wonder how to allocate the budget. For example, suppose there are three treatment geos and a budget of $3k for an experiment duration of four weeks. Should the budget be allocated proportionally, such as $1,000 for each geo and $250/week, or should it be allocated depending on historical budget or geo market size? Any guidance or best practices on this matter would be highly appreciated.
Secondly, I would like to address the issue of budget and time constraints. The marketing specialist may not have any budget constraints, and therefore, may not know the recommended budget for measuring a particular marketing channel/strategy. Is there a way to provide an optimal budget for a particular experimental design? The same applies to the duration of the experiment, where the rule of thumb is typically one sales life cycle. Any insights or advice on these matters would be valuable.
Thank you for your time and efforts in developing the matched_markets library. I look forward to hearing your feedback and suggestions.
Best regards,
Albert