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Planning the digital marketing budget: computer modelling for decision making

Published Online: Mar 15, 2023
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Abstract:
Objectives: The rational distribution of the advertising budget in conducting an advertising campaign using digital marketing tools is very relevant and tricky. The possibility of computer simulation of the results of the joint use of various Internet advertising tools and their impact on buyers is considered. Methods/Approach: It is proposed to use approaches based on simulation of the long-term impact of digital advertising on potential consumers. Three primary states of awareness and actions of consumers are distinguished and modelled: an uninformed consumer, a consumer who is aware of the product, a buyer, and a regular buyer. We study the dynamics of changes in the number of consumers in each group during exposure to various components of a digital advertising campaign. Results: A computer simulation model has been developed to change consumers' states during an advertising campaign. It numerically simulates the sequential transition of potential consumers to the state of regular buyers and back under the influence of the considered means of online advertising. Conclusions: The developed approach makes it possible to predict the dynamics of changes in the number of consumers and its relationship with the ratio of elements of an advertising campaign over time. The proposed model is simple to use and has good opportunities for further development.
Keywords:
Pages:
248-260
JEL Classification:
M31, M37, D12
How to cite:
Dorokhova, L.; Kuusik, A.; Dimitrov, R., Pentus, K.; Dorokhov, O.; Petrova, M. (2023). Planning the digital marketing budget: computer modelling for decision making. Access to science, business, innovation in the digital economy, ACCESS Press, 4(2), 248-260, https://doi.org/10.46656/access.2023.4.2(7)
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