In today’s world, it’s harder than ever to grab the attention of buyers with so much information already at their fingertips. Lots of businesses are spending untold amounts of dollars on marketing efforts, but not getting the results they want due to fierce competitiveness and distractions by so many other ads.
That’s where Magnetic comes in – a company that uses artificial intelligence (AI) and machine learning to deliver smarter, faster and more effective advertising. RewardExpert spoke with Magnetic’s Vice President of Marketing, Teresa Feely, about what makes Magnetic an attractive option for businesses looking to stand out.
Machine Learning vs. Traditional Advertising
How does machine learning help in delivering more effective and higher quality advertising? Feely said the list goes on and on. “Advertising powered by machine learning and AI delivers dramatic performance improvement with much less advertiser/marketer effort. Magnetic’s AI platform can accomplish years of ‘human’ work in mere moments.”
She highlighted three ways AI and machine learning can generate dramatic performance improvement, based on Magnetic’s unique platform:
- Smart and faster than any human – it can make sense of a huge amount of user-level data and assess billions of variables in real-time, allowing for analyzations of millions of marketing opportunities per second
- Free of human error and bias – every decision made is based on data inputs and mathematical outcomes, is fully self-regulated and only takes action toward high-value outcomes that will achieve goals in the most effective way
- Can both grow and protect an advertiser’s bottom line – real-time customer knowledge delivers personalized ad experiences that are tailored to each individual’s interests and preferences, and also enables the AI to find and evade fraudulent activity that plagues the ad industry
Feely added, “Our AI ensures ads are never disruptive so advertisers can build positive brand association and long-lasting relationships with customers.”
Helping Companies Reach the Right Customers
For companies, its common sense that every dollar spent on media should be a smart one. Magnetic makes it easy to identify smart opportunities and also helps to deliver great returns. Feely described the Magnetic AI platform as one that applies machine learning throughout each stage of the campaign process. “It uses predictive algorithms to select audiences with the greatest potential return, and optimizes media buying processes to reach them at the lowest possible cost.”
She went on to explain that the AI can help to identify the best prospective customers, resulting in higher conversion rates. “Our clients are realizing 2-10x increases in the performance of their ad campaigns (vs. non AI-optimized ad campaigns).”
In January of this year, the company introduced Magnetic Force, the industry’s first fully-automated and transparent media buying platform. With this option, Feely said that customers are not only seeing performance improvement but saving significant time and money, as well. “Clients are saving at least 50% of the time spent managing campaigns, further reducing cost and further increasing profit/return.” Magnetic Force utilizes AI and machine learning in all stages of the campaign execution process.
A Solution for Every Company
Magnetic offers a variety of options for each business to use AI and machine learning in the most effective way – through managed service, self-service or a blend of the two. However, the goal is always the same – attracting the right customers at the right time to get the greatest return. Feely noted, “Magnetic’s AI platform proactively explores and creates new strategies to succeed.”
For example, the platform keeps all audiences live and automatically updates campaign segments throughout the day based on the latest data and analytics. “Magnetic’s AI knows that yesterday’s audience may not be an advertiser’s best option today. This always-on, AI-powered audience optimization ensures ads reach the most valuable audience throughout the campaign and deliver max profitability,” noted Feely.
Getting started is extremely easy. With Magnetic Force, for example, media buyers can set up a campaign and have it go live in less than a minute. “Our AI platform handles all executional components. It provides media buyers with unprecedented exposure to impression-level media pricing, placement and geography detail,” said Feely.
Magnetic utilizes AI and machine learning for all of their advertising solutions. The company evolves with the times and is constantly updating itself to stay ahead of the curve. For more information on Magnetic’s solutions, visit www.magnetic.com.