Using AI to hack growth marketing for SMEs - The EE

Using AI to hack growth marketing for SMEs

San Francisco, CA USA.29 October 2021 – Due to the ongoing disruption of brick-and-mortar retail caused by the pandemic, e-commerce witnessed record growth with online sales going up nearly 44 %. As consumers immersed more into digital shopping, the competition for direct response ads amongst brands has now become fiercer than ever before, especially for small businesses.

That said, new Marketing Tech solutions have emerged that can help companies achieve better Return on Investment (ROI) without the need for high-end agencies, expensive data science teams, or an army of creatives.

Recent engagement patterns in online consumer behavior show that video is the fastest-growing ad format, accounting for 35% of all digital ad spend with yearly volume growth of nearly 30% YoY ($60 billion total) (€51.53 billion). However, it is also the most expensive and time-consuming media to create.

In addition, to maintain the competitive edge, brands need to not only produce such visual content at scale but to identify winning ad combinations. This means that to uncover top performers, companies need more content, as well as more budget to A/B test it, which poses challenges for smaller businesses with limited funds.

“Small businesses struggle to compete with large teams and big ad spend that established companies can afford,” says, Dr. Tadas Jucikas, the CEO and founder of Genus AI a San Francisco-based AI marketing platform. “This creates an unfair dynamic where the more budget you have to create assets and run expensive A/B tests, the more successful you will be, regardless of your product quality, positioning or its impact on the world.”

As Dr. Judickas notes, this was the main reason behind creating the Genus AI platform. The solution aims to eliminate budget and team constraints as the key limiting factors of successful social media ad campaigns and, with the help of AI, help the best teams and products win.

“The Genus AI platform uses a proprietary deep neural network architecture to evaluate every component of image or video assets, evaluate and score product clips, photoshoots, user-generated content (UGC), and testimonials. It assembles thousands of ads, analyses and shortlists the ones most likely to convert, then discards the rest. That cuts the production, data analysis, and A/B testing costs sizably, enabling brands of any size to produce and launch more effective campaigns,” Dr. Jucikas says.

Preview of the platform’s ad ranking. Credit: Genus AI 

The company reports that in addition to lower team costs, Genus AI clients have observed up to 3 times improved return on ad spend (ROAS) and up to 30% cost per action (CPA) decrease on their Facebook and Instagram campaigns.

“It is about time that brands, which normally would not be able to afford highly sought-after data science teams, expensive agencies, or large creative resources are able to really make an impact,” Dr. Jucikas concludes.

The company has recently launched the self-service version of the platform and will continue to focus on making AI accessible to everyone, allowing marketing influencers, small brand owners, and CMOs to leverage AI and confidently launch ads that convert audiences to paying customers.

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