MarTech Podcast: "How would you allocate a $10 million programmatic budget in 2025?"

Host: Benjamin Shapiro
Guest: Amanda Martin, Chief Revenue Officer at Mediavine
Date: October 9, 2025

Episode Overview

In this episode, host Benjamin Shapiro explores the state of programmatic advertising in 2025 with guest Amanda Martin, Chief Revenue Officer at Mediavine. The core question posed: "How would you allocate a $10 million programmatic budget in 2025?" Amanda delivers candid guidance on strategic allocation, the importance of audience insights over content for buy-side decision-making, and the necessity of iterative testing before large-scale spend. Via a dynamic real-world scenario, Amanda illustrates how marketers should approach channel choices, data modeling, and campaign testing for optimal returns from programmatic investments.

Key Discussion Points & Insights

1. Starting with Strategy: DSP Choice & Technology (01:47–02:40)

• Choose the Right DSP (Demand-Side Platform): The selection should match business sophistication and campaign objectives.
  • Quote: “Pick the right DSP for what you're looking to drive and what your level of sophistication is.” — Amanda Martin (01:49)
• Leverage Technology and Data: Utilize available tools—algorithms, insights, and learnings—to optimize targeting and performance.
  • “Lean into the tech, lean into the learnings, lean into the insights, lean into the algorithms.” — Amanda Martin (01:54)
• Stay Agile, Not Rigid: Avoid inflexible creative or targeting strategies. Let the technology help uncover where your audience actually engages.
  • “If your buying is so fixed at the beginning of the process, you're not using any of the bells and whistles that Programmatic has to showcase to you who your actual audience is or where you're actually driving results.” — Amanda Martin (01:58)
• Embrace Surprising Findings: Recognize that the data often reveals unexpected audience segments.
  • “My favorite thing from being on the buy side was…your campaign showed the exact opposite of what the result was. Learn from your DSP and learn from the insights you can glean.” — Amanda Martin (02:10)

2. Audience-First Approach to Channel Allocation (03:10–04:54)

• Define and Find Your Audience: Success hinges on precise audience definition—content focus matters less on the buy side.
  • “On the sell side, everyone's focused on their content and why their readers come to them. And on the buy side, everyone's focused on the audience and where they are.” — Amanda Martin (03:41)
• Audience Modeling and Algorithmic Expansion:
  • Start with a "seed"—some data defining your current customers.
  • Build lookalike audiences and expand your reach using third-party data and modeling.
  • Let the DSP's algorithm guide refined targeting and channel selection.
  • Quote: “Get a seed audience of who your current customers are, lookalike, model, expand it, buy third party data, and let the algorithm find your audience.” — Amanda Martin (04:45)
• Channel Mix Realism: Marketers often assume preferred channels (e.g., podcasts for podcasting audience), but data may show better CPMs elsewhere.
  • “You may not actually spend as much on podcasts as you think you would to reach that audience...You probably are spending a lot on the open web, quite frankly with video, and then you're probably expanding into audio, and you may expand into CTV.” — Amanda Martin (04:12)

3. Practical Investment Guidance and ROI Focus (04:54–05:28)

• Test Before You Invest Big:
  • For small/niche audiences, $10 million is likely far too much to spend upfront; risk management is essential.
  • Run smaller, test campaigns to discover successful strategies—then allocate further budget.
  • Quote: “I'd say $10 million sounds like a lot could go wrong. And so I would pace it out. I would do a lot of smaller versions of that budget, trying and testing, and then when you find a recipe that works, then invest the rest of the dollars.” — Amanda Martin (05:11)
• Define Return on Ad Spend (ROAS): Before committing large sums, brands must know what constitutes a successful ROI for them.
  • “Define what your return on ad spend is and then figure out if $10 million is a risk or a reward.” — Amanda Martin (05:02)

Notable Quotes & Timestamps

• Amanda Martin on DSP and Data:
  “Pick the right DSP for what you're looking to drive and what your level of sophistication is.” (01:49)

• Amanda Martin on Programmatic Flexibility:
  “If your buying is so fixed at the beginning…you're not using any of the bells and whistles…” (01:58)

• Amanda Martin on Buy Side Mindset:
  “On the sell side, everyone's focused on their content and why their readers come to them. And on the buy side, everyone's focused on the audience and where they are.” (03:41)

• Amanda Martin on Lookalike Modeling:
  “Get a seed audience of who your current customers are, lookalike, model, expand it, buy third party data, and let the algorithm find your audience.” (04:45)

• Amanda Martin on Budget Phasing:
  “I'd say $10 million sounds like a lot could go wrong. And so I would pace it out…” (05:11)

Segment Timestamps

• [01:15–01:47] Setting the question: allocating a $10 million programmatic budget
• [01:47–02:40] Tech, DSP selection, importance of agile buying and learning from outcomes
• [03:10–04:54] Audience definition, buy side vs sell side focus, channel selection strategies, modeling and data-driven expansion
• [04:54–05:28] Programmatic vs. pocketing the budget, risk of over-investment, advocating for testing and pacing

Memorable Moments

• Amanda’s humorous opening: “Give it all to us. I'm just kidding.” (01:47)
• The realistic dialogue on marketer assumptions: Benjamin admits, “Absolutely not,” when asked if he knows exactly where his audience is. (03:21)

Summary Takeaways

• Tech-Driven Flexibility: Leverage DSPs, algorithms, and continuous insights, rather than setting rigid upfront plans.
• Audience-First Planning: Define, model, and expand your audience using available data; don't assume channels.
• Iterative Budget Allocation: Test and learn with small segments before making large investments, especially for niche B2B targets.
• ROAS Before Spend: Always clarify what return justifies large spends, and adapt based on performance data.

This episode is a practical, candid roadmap for marketers planning sizable programmatic spends amid rapidly evolving tech and audience behaviors in 2025.