Advertiser Campaign Management, Ad Tech and Martech
PR Newswire | July 05, 2023
InMarket, a leader in 360-degree marketing intelligence and real-time advertising, today released their new study, Getting Smart About Ad Waste, in collaboration with the CMO Council. The study revealed that brands using InMarket's advanced attribution technology, including real-time inflight optimization, can achieve up to an 11x reduction in media waste compared to brands that don't. The highest performers in the study drove positive incremental results for 94% of their media spends.
Improving the economics of advertising and driving better outcomes against key KPIs are persistent challenges for CMOs. By focusing on always-on attribution and real-time inflight optimization, CMOs can extend the performance of their campaigns and drive dramatic increases in Return-On-Ad-Spend (ROAS).
The report highlights a major national Quick Serve Restaurant (QSR) brand that uses LCI (Lift Conversion Index) always-on attribution and real-time inflight optimization to monitor what exactly is driving their restaurant visits and sales. InMarkets' LCI attribution platform demonstrated that this specific chain was able to optimize nearly all impressions served—93% and 7% waste. The study compares this result to another major QSR brand that did not use the LCI's advanced capabilities resulting in a wasted 72% of all impressions served.
Additional highlights from the study on always-on attribution and real-time, in-flight optimization include:
InMarket found that LCI customers not leveraging always-on, real-time optimization have the opportunity to optimize 75% or more of their media spend: InMarket saw positive results in 94% (6% inefficiency) of the media for their highest-performing brands, while seeing an opportunity for their lower-performing brands not leveraging advanced attribution to optimize 75% of their current media impressions.
With increasing campaign spending, the opportunity cost of wasted media is rising significantly: For campaigns nearing $20 million, if 75% of the campaign is non-performing, then that lack of optimization within their campaign is equivalent to 15 million wasted dollars in advertising spending.
"Consumer behavior is constantly shifting and evolving, requiring marketers to react and optimize in real-time to assure they engage consumers when and where it matters most," said Todd Morris, CEO of InMarket. "Traditional media approaches focused on lowering the costs associated with advertising. However, today's advanced measurement technologies empower CMOs to drive unsurpassed experiences, outcomes and efficiency from existing investments. We're excited to partner with CMOs to help them better engage consumers while also driving improved media efficiency and effectiveness."
Some of North America's largest corporate marketing organizations and brands trust InMarket's award winning advanced LCI attribution solution to optimize their media investments. InMarket's LCI has become the industry's leading attribution platform for marketers and agencies to understand the impact of their omnichannel marketing spend from impression to visit to purchase. For more information on InMarket's LCI visit https://inmarket.com/attribution.
"CMOs are facing growing budget pressures and increased expectations to drive positive ROAS from their media investments," said Donovan Neale-May, Executive Director of the CMO Council. "As a result, attribution adoption has become mission critical in order to accurately measure outcomes from media efforts, while further informing marketing and media strategies."
Spending on attribution software globally is expected to experience a strong 15.5% CAGR from 2022 to 2031, reaching $12.9 billion globally according to Allied Market Research. The CMO Council's 16,000-plus members control approximately $1 trillion in aggregated annual marketing expenditures and run complex, distributed marketing and sales operations worldwide. The council works to connect thought leaders and key players across multiple industries to build strong relationships among a strong group of senior corporate marketing executives. For more information, visit www.cmocouncil.org.
Since 2010, InMarket has been a leader in 360-degree marketing intelligence and real-time advertising for thousands of major brands. Through InMarket's data-driven marketing platforms, brands can build targeted audiences, activate real-time omni-channel marketing programs, and measure the success of those programs in driving sales.
InMarket holds more than 25 patents across location, attribution, and digital marketing, and was awarded Product of the Year at the 2022 Sales and Marketing Technology Awards for its GeoLink marketing platform, along with Best Advertising Measurement Platform at the 2022 MarTech Breakthrough Awards for its attribution platform LCI (Lift Conversion Index). InMarket was also awarded the Best Use of Data award at the 2022 Digiday Media Buying & Planning Awards, and ranked 300 on the 2022 Deloitte Technology Fast 500 list. Its nationwide team is united across more than 30 states. For more information, visit www.inmarket.com.
About CMO Council
The Chief Marketing Officer (CMO) Council is the only global network of executives specifically dedicated to high-level knowledge exchange, thought leadership and personal relationship building among senior corporate marketing leaders and brand decision-makers across a wide range of global industries. The CMO Council's 16,000-plus members control approximately $1 trillion in aggregated annual marketing expenditures and run complex, distributed marketing and sales operations worldwide. In total, the CMO Council and its strategic interest communities include more than 65,000 global executives in more than 110 countries covering multiple industries, segments and markets. For more information, visit www.cmocouncil.org.
Social Media Advertising
prnewswire | August 18, 2023
BENlabs, the leading entertainment AI company for brands and creators, released a new report today finding that 63% of consumers have positive emotions after seeing products or brands in TV content, while 47% say they enjoy seeing their favorite brands in shows. The report, "State of Product Placement 2023," analyzed product placement's ROI, and consumers' feelings on it compared to traditional marketing and advertisements.
The survey focused on three areas: understanding marketers' perspectives on product placement, understanding consumers' perspectives on product placement and consumers' research and purchase behaviors. The report found that:
Marketers' are overwhelmingly optimistic about product placement – In fact, 86% of U.S. marketers who've tried product placement rate it highly, while 81% consider it to be an effective marketing channel. Additionally, 91% see it as effective in reaching non-ad supported audiences.
To top it off, eight-in-10 marketers consider AI to be very important when making a decision about what marketing company to use for product placement opportunities.
Successful product placement can elicit positive emotions in viewers – A little over six-in-10 (63%) of respondents reported feeling positive emotions (happiness, inspiration, interest, and/or curiosity) after seeing a product or brand in a film or TV programs, while 47% like seeing their favorite brands and products in TV shows and films. Given a choice, a majority (52%) of consumers would prefer to watch a TV program with product placement over advertising.
Consumers are quick to research products and brands they see on screen – Three-quarters (75%) of consumers have searched for a product/brand on at least one platform after seeing it on TV/film, furthermore, 57% of those consumers go on to purchase the same product, or a different product from the same brand.
Almost one-in-five (17%) made the purchase as they were watching, 12% did so within two hours, 14% waited more than a day and 18% took longer than one week.
"We found that 46 percent of consumers have actually learned about a product for the first time after seeing it on TV or in movies. That's a staggering number and speaks to the effectiveness of product placement throughout the marketing funnel, from driving awareness and cultural relevance all the way down to sales and marketing," says Erin Schmidt, Chief Product Placement Officer of BENlabs. "Combining the power of this marketing channel with AI allows brands to target the audience most likely to drive ROI for their entertainment marketing investments."
Ad avoidance is at all-time highs, with over 41% of viewers habitually skipping or avoiding television advertisements. Combined with a massive shift to ad-free streaming platforms, this makes it harder than ever for businesses to reach audiences through traditional methods. BENlabs' newest report, with insights from approximately 350 marketing managers and 650 consumers, found product placement offers a strong new avenue for businesses to reach, retain and grow their customer base.
BENlabs surveyed 349 senior marketing managers or above with direct responsibility for marketing spend and/or marketing innovation at their brands (December 2022), and 657 US consumers (excluding those who work in marketing and advertising) about their TV viewing habits and views on product placement within TV programs and films (April 2023). Unless otherwise specified, there were no significant differences in responses by age, gender, or viewing habits.
BENlabs is an entertainment AI company that integrates brands into influencer, streaming, TV, music and film content with guaranteed ROI. BENlabs offers clients the world's largest influencer marketing business, comprising the world's largest product placement, promotions and licensing agency combined with TubeBuddy, the largest AI SaaS platform to help 15 million creators and brands optimize their audience and channel growth. BENlabs works with the world's top brands and creators, including Microsoft, General Motors, Frito-Lay, Bloomingdales, Tencent and Reckitt Benckiser.
Display Advertising, Ad Tech and Martech
Business Wire | June 30, 2023
Creative intelligence company RAD Technologies Inc., widely recognized as RAD AI, and user-generated gaming platform Overplay have joined forces in a strategic partnership to launch innovative engagement tools for the creator community.
This collaboration marks a new era in interactive content, social gaming, and digital marketing by marrying artificial intelligence with video and game creation. Now, RAD AI’s brand partners and its vibrant creator community have premier access to Overplay's powerful platform to turn their intelligence-driven video content into highly engaging games at the click of a button.
“Overplay brilliantly merges the personal connection of social media with the addictive fun of hyper-casual games in a way that drives new levels of engagement like we’ve never seen,” said Jeremy Barnett, CEO and co-founder of RAD AI. “Our creators and brand partners love Overplay because the unique format stands out in a busy feed and invites interaction, consistently driving ROI.”
Overplay’s team is utilizing the powerful precision of RAD AI’s data-driven creative intelligence to identify the most trending topics across social and to inform decisions about target audiences, creator selection, and content strategy.
“RAD AI enables us to rapidly identify and activate the most influential communities at scale,” said Caroline Strzalka, COO and co-founder of Overplay. “Furthermore, their creator-first mentality and proven data-informed approach align perfectly with our ethos. This partnership will undoubtedly open exciting new opportunities for all stakeholders - content creators, influencers, marketers, and consumers alike.”
For more information on how RAD AI automates ROI-based creative decisions and content strategy at scale, visit https://www.radintel.ai/.
For more information about Overplay and to invest in the future of gaming and interactive content, visit wefunder.com/overplay.
Overplay is a user-generated gaming platform that empowers creators to build their own games from short videos and share them with the world. Founded by seasoned interactive media executives Dan Projansky and Caroline Strzalka, Overplay aims to democratize game development and make it accessible to everyone. The platform has generated over 1 million games played and 150,000 alpha app downloads, and has a waitlist of over 7,000 creators eager to use its beta version game maker. Overplay is backed by Village Global, Gaingels, Sound Media Ventures, Plus Eight Equity Partners, Gaingels, Red & Blue Ventures, Band of Angels, Stampede Ventures, and Outlander Capital as well as angels from Warner Brothers and Riot Games. For more information, please visit overplay.com.
About RAD Technologies, Inc
RAD AI (Remove All Doubt) is an artificial intelligence that automates ROI-based creative decisions and content strategy at scale. The company uses its proprietary AI through 600+ API connections to deliver unbiased creative intelligence that informs campaign concepts, content production and influencer selection. This results in better ROI across the entire marketing mix, hundreds of hours saved on creating content, and a measurable reduction in content costs. The company is based in Los Angeles and was founded in 2018. For more information about RAD Intelligence, please visit us at https://www.radintel.ai.
Display Advertising, Ad Networks
globenewswire | August 08, 2023
AUDIENCEX, the AI-enabled digital advertising partner built to optimize real-time campaign performance for brands and agencies, is proud to announce the continuing expansion of its cutting-edge AI solution, AXi. With this expansion, the Company’s customers will be able to utilize AI-powered predictive analytics to maximize return on advertising spend, without the need to invest considerable overhead into expensive and resource-intensive data science solutions.
Additionally, the Company has announced that it has entered into strategic partnerships with enterprise-level technology providers and data platforms to further enhance the capabilities of AXi and offer value-added services. These collaborations will enable AXi to leverage additional privacy-safe data sources and cutting-edge technologies, providing clients with even more precise targeting, real-time optimization, and actionable insights into their target audience.
AUDIENCEX’s AXi innovative technology is set to revolutionize programmatic advertising for emerging brands and agencies by delivering advanced capabilities to marketers typically unable to deploy enterprise level technologies. It offers a suite of the latest AI-enabled data science solutions, including both log-level data and historical data access, custom bidding algorithms, and predictive audience modeling fueled by first-party data analysis and opted-in, fully consented third-party data sets. With optimal workflows and rapid processing of immense data sets, these tools are applied efficiently to campaigns at any scale.
"At AUDIENCEX, we believe in the power of collaboration and strategic alliances. Our partnerships with industry-leading technology providers will elevate the capabilities of AXi, delivering exceptional results for our clients," said Jason Wulfsohn, CEO and Co-Founder of AUDIENCEX. "We are actively working towards further innovating additional technology solutions and expanding our ecosystem of partners to ensure that our clients have democratized access to true best-in-class solutions."
"We are thrilled to expand access to AXi, our pioneering AI solution, to the midmarket. By combining the power of AI with our extensive knowledge in programmatic advertising, we are empowering emerging brands and agencies to take their campaigns to new heights from a performance standpoint” said Garrett MacDonald, CCO of AUDIENCEX. "The possibilities are endless, and we are excited to be at the leading edge of this ongoing AI-revolution.
As the digital advertising landscape becomes increasingly complex, AI-powered tools have become essential for brands and agencies to navigate the challenges and maximize performance. With the wider launch of AXi-enabled campaigns across verticals including travel and hospitality, manufacturing, consumer packaged goods, financial services and higher education, to name just a few, AUDIENCEX is empowering challenger brands and independent agencies to harness the power of enterprise-level AI, level the playing field, and unleash their true potential.
AUDIENCEX is an AI-enabled, performance-first programmatic advertising partner built to deliver results for challenger brands and independent agencies. Their expert teams deploy holistic strategies throughout the digital ecosystem, engaging the right audiences with predictive analytics, custom algorithms and automated optimization to drive scalable performance throughout the purchase funnel, across channels and devices. Named one of the fastest-growing companies in America by Deloitte, Inc., The Financial Times and the Los Angeles Business Journal, AUDIENCEX is headquartered in Los Angeles and operates remotely throughout North America, including New York and Dallas.