Press: The Drum - Staying in the loop as AI becomes a reality
Artificial intelligence is staying relevant in large-scale marketing channels, but recently it has made headway in mobile video advertising. A recent survey of 1,000 mobile users asked if after watching a mobile video ad whether viewers were inclined to buy a product.
Nearly half of those surveyed said they never bought a product after watching a commercial video. Additionally, when asked why this was the case, 51 per cent stated they were not in the market for the product at that time of viewing and 29 per cent said the adverts were not relevant. These statistics for mobile video viewers indicated that advertising is not being delivered at the correct point in the purchase funnel or to users who were likely to change their minds, ultimately wasting marketer’s budgets.
“The challenge many brands face is getting ROI from their digital campaigns and achieving the marketing goals” comments Stephen Upstone, CEO LoopMe. “Clicks were used to judge the impact of campaigns simply because there was a lack of other reliable metrics to use for optimization or reporting.”
The new way of delivering campaigns is to combine AI with third party brand research from Nielsen and On Device, to expressly target users who have shown the greatest likelihood of moving along the purchase funnel. Throughout each campaign a sample of users will be surveyed to determine its ongoing performance against brand metrics like brand awareness, favorability or purchase intent. That’s at least according to video platform LoopMe, which has announced new optimization and reporting technology, PurchaseLoop that helped deliver the results.
Read the rest of the article on The Drum website here.