I have designed and tested a time series model where I am able to examine the impact of various marketing channels on dependent variables (Such as sales, revenue, website traffic, etc).
The model has helped me identify channels that have a strong correlation with the dependent variable(s) and channels that that have little to no impact. I have also identified the point of diminishing returns for each channel. Using this model, I am able to optimize my media spend and properly allocate my money to optimize my goals.
The problem: I'd like to run a simulation before I begin changing how I allocate my media spend. Lets say I identify a channel that is worthless and I want to use that money in different marketing channels (keeping in mind the point of diminishing returns). I'd like to take do a forecast of how the my changes in media spend will impact my dependent variable (Sales, Website Traffic, etc).
How can this be done??