Innovative marketers and agencies are now using a first of its kind artificial intelligence (AI) solution to instantly predict the success of digital ads and dramatically boost ad results.
Junction AI, an Austin, Texas and Brisbane, Australia based start-up, has developed a proprietary AI platform, which predicts the best ad creative for Google Ads, Facebook Ads and website promotions – all before deploying live.
Launched in beta late last year and now rolling out globally, the solution is already having a big impact. Marketers are realizing 8x growth in revenue per conversion, 350% growth in ad engagement and more than 60% savings in cost per click.
“Until now, marketers had to spend significant time and money testing and optimizing digital ads over days, weeks and months to find out what works,” said Junction AI CEO/Cofounder Vance Reavie.
“This means that up to 60% of ad spend underperforms or is outright wasted. Every dollar that underperforms is a customer lost.”
The Junction AI platform harnesses a brand’s Google and Facebook ad data to create an AI Audience Model. The platform uses a combination of AI techniques including image analysis, natural language processes, semantic reasoning and neural nets to understand how digital advertising is perceived by the brand’s audience.
Predictions are generated by running as many as 75 million tests within seconds. These predictions are relevant and applicable to a marketer’s audience because tests are run on a model using a brand’s actual audience data, rather than general population models or pooled data.
‘With Junction AI, brands and agencies can run unlimited tests to predict ad success and optimize every element of the ad creative to see if their ad will convert before having to spend real dollars.
“Sometimes changing a word or a graphic can mean the difference between success and failure,” he said. “We’ve generated insights on what to include and exclude, ranging from product models and features to locations and colors.”
Matt Jenkins, Managing Director of leading Toronto based agency Other has been testing the AI platform since late 2019 and has seen strong results, with one client growing conversions 8x on Google Search Ads.
“Our team needs to be ahead of the curve in using data to improve results for our clients,” says Matt.
“Introducing a practical and easily accessible AI tool offers an opportunity to change the way we work as marketers.
Digital advertising continues to grow rapidly with $330 billion spent last year. There is significant scrutiny on digital ad budget growth at the moment, with clients demanding smarter spend.
The volume of ad metrics and data is vast, and it’s a job uniquely suited to AI. No marketer has the time and budget to analyze millions of data combinations for insights, but an AI can crunch the data in seconds.
“The use of AI deep learning makes this a perfect use case,” says Vance. “No human or team can run 75 million tests in seconds to uncover relationships in the data that may power the next successful ad.
“Our challenge was to make it easy, make it on demand and deliver real time insights without the need to hire a data engineer or analyst.”
“It’s like equipping everyone on your team with their own personal AI data scientist at their fingertips 24/7!”
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