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Understanding the Problem: You are tasked with optimizing the marketing budget allocation across four new advertising channels: YouTube advertisements, Google search promotions, Facebook marketing, and direct mail initiatives. The goal is to ensure the budget is used as efficiently as possible.
Key Considerations:
Experiment Design:
Initial Setup:
Metrics Collection:
Testing Phase:
Analysis:
Optimization:
Continuous Monitoring:
Explanation:
By structuring the A/B test in this manner, you can effectively determine which advertising channels yield the highest ROI and make informed decisions to optimize the marketing budget allocation.