Dynamic budget allocation for social media advertising campaigns: optimization and learning

Luzon, Yossi; Pinchover, Rotem; Khmelnitsky, Eugene

doi:10.1016/j.ejor.2021.08.019

Cited by 21 publications

(8 citation statements)

References 27 publications

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“…Further investigation showed that their custom-designed, feature-based algorithms yielded substantially lower cost than several main benchmarks known in the literature. Luzon et al [22] examined the dynamic allocation of budget for an online advertisement campaign posted through a social network. They considered unique features of social network marketing and aimed at minimizing the campaign's length upon reaching a desired level of exposure of each marketing segment.…”

Section: Literature Reviewmentioning

confidence: 99%

Dynamic Marketing Resource Allocation with Two-Stage Decisions

Zhang

Liao

et al. 2022

JTAER

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In the precision marketing of a new product, it is a challenge to allocate limited resources to the target customer groups with different characteristics. We presented a framework using the distance-based algorithm, K-nearest neighbors, and support vector machine to capture customers’ preferences toward promotion channels. Additionally, online learning programming was combined with machine learning strategies to fit a dynamic environment, evaluating its performance through a parsimonious model of minimum regret. A resource optimization model was proposed using classification results as input. In particular, we collected data from an institution that provides financial credit products to capital-constrained small businesses. Our sample contained 525,919 customers who will be introduced to a new product. By simulating different scenarios between resources and demand, we showed an up to 22.42% increase in the number of expected borrowers when KNN was performed with an optimal resource allocation strategy. Our results also show that KNN is the most stable method to perform classification and that the distance-based algorithm has the most efficient adoption with online learning.

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Section: Literature Reviewmentioning

confidence: 99%

Dynamic Marketing Resource Allocation with Two-Stage Decisions

Zhang

Liao

et al. 2022

JTAER

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“…At the same time social marketing creates ideas to meet consumer needs as well as identifies the desires and interests of the target market and thus satisfies them by improving the well-being of consumers and the whole society (Kostin et al, 2020;Yousef et al, 2021). According to Luzon et al (2022), social advertising activities are planned according to a budget. It is implemented in order to evaluate advertising activities and their effectiveness.…”

Section: Social Marketing Tools and Model Theoriesmentioning

confidence: 99%

23rd International Scientific Conference. “Economic Science for Rural Development 2022” No 56 Circular Economy: Climate Change, Environmental Aspect, Cooperation, Supply Chains, Efficiency of Production Process and Competitive of Companies, Integrated and Sustainable Regional Development, New Dimensions in the Development of Society, Rural Development and Entrepreneurship, Sustainable Bioeconomy

2022

Economic Science for Rural Development

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Today, more than 70% of people live in and around cities. Existing urban and regional food systems are unsustainable and society expects and demands change. In order to help prevent and reduce food waste, reduce the environmental impact of food production and food waste, and promote access to healthy food for all, it is essential to design and develop smart, food-oriented food chains. Therefore, the involvement of local entrepreneurs, municipalities and citizens in the development of the food security ecosystem of cities and regions is important. Involvement in local food supply chains allows businesses to increase the added value of their products and make farmers less vulnerable to market risks by reducing the number of intermediaries through diversification and better price control, guaranteeing less asymmetric relationships with customers. Municipalities promote the consumption of quality products through green public procurement of food and thus reduce the risk of obesity and chronic diseases, but in the long run the costs of health care. In Latvia, according to the data of 2019, only 3% of biologically certified farms sold their products through public procurement, incl. purchase of school catering. The aim of this study is to identify barriers and possible solutions for increasing the share of local organic food purchased by mainstream schools. The study finds that the role of local organic food in green public procurement and its impact on territorial development is linked to environmental, social and economic benefits. The main obstacles to participating in GPP tenders and winning the tender were: 1) the quantity and range of products required (division of goods into lots), as well as the purchase prices of organic products; 2) high bureaucratic burden for "small" producers, complex Electronic Procurement System and tender submission criteria; 3 cal organic food is more expensive than imported; 4) limited financial resources; 5) insufficient amount of food produced.There were significant communication gaps between stakeholders regarding GPP, as well as a lack of knowledge about the organic market and how to implement GPP.

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“…En este contexto, la transformación digital en el sector cooperativista debe ser una prioridad, en la búsqueda constante de utilizar estrategias digitales (Marín et al, 2021). En la provincia de Tungurahua la cooperativa Chibuleo invierte un 28.94%; la cooperativa SAC un 28.37% y la cooperativa Ambato un 24.22% en medios digitales, instituciones que hasta cierto punto son visibles en el mercado (Luzon et al, 2022). Según Testa et al, (2020) financieros con el uso de aplicativos móviles o páginas web, esto ha generado eficiencia en las transacciones y el 51% de ecuatorianos prefieren hacer pagos mediante aplicaciones bancarias.…”

Section: Introductionunclassified

“…La aplicación de redes sociales permite el ahorro de tiempo de interacción con sus clientes y, alrededor del 71% consideran que son herramientas competitivas. Además, el 53% de personas son leales al social media y son utilizadas para evaluar la información financiera, así como, el 20% evalúa servicios y actividades en este ámbito (Luzon et al, 2022).…”

Section: Introductionunclassified

Social media del sector cooperativista: un análisis de respuesta actitudinal del consumidor microfinanciero de la provincia de Tungurahua en el año 2021

Masaquiza-Caiza¹,

Moreno-Gavilanes²

2023

593DPCEIT

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La utilización plataformas digitales y el análisis de las actitudes del consumidor de productos financieros son el desafío que ha adquirido la industria cooperativista financiera al verse inmersas en el mundo digital. Por lo tanto, el objetivo de la investigación fue determinar las actitudes que influyen en las redes sociales mediante la utilización del modelo de afrontamiento de la adaptación del usuario en las plataformas digitales en el sector cooperativista de la provincia de Tungurahua. Para ello, se aplicó una encuesta a 281 socios que fueron evaluados mediante los factores oportunidad percibida, influencia social, control percibido, disfrute, auto-mejora, temor, confianza, y adaptación digital. La utilización del método de análisis factorial exploratorio permitió determinar el grado de correlación entre el sistema de variables. Los resultados revelaron que los socios han percibido un efecto positivo por parte de las organizaciones según la oportunidad percibida, la influencia social, el control percibido, y disfrute. Se concluyó que, la confianza y el miedo son actitudes de adaptación negativas hacia las plataformas digitales, puesto que existe temor al momento de interaccionar entre empresa y socio, pues evidencian peligro de exposición de su información personal.

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Dynamic budget allocation for social media advertising campaigns: optimization and learning

Cited by 21 publications

References 27 publications

Dynamic Marketing Resource Allocation with Two-Stage Decisions

Dynamic Marketing Resource Allocation with Two-Stage Decisions

Social media del sector cooperativista: un análisis de respuesta actitudinal del consumidor microfinanciero de la provincia de Tungurahua en el año 2021

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