Companies are turning to artificial intelligence platforms more and more to make their media buying efficient and effective, driving conversions up and costs down.
With a little help from AI, the mystery is taken out of the media buying process and companies are able to target their ads with a more refined process which is showing to result in better targeting, a decreased cost per lead and higher conversions.
High-end gym franchise Orangetheory launched an AI platform in December to help refine their marketing efforts and drive down their cost per lead. In just a few short months, their results are remarkable. Cost per lead has decreased from $20 to $8, which has allowed the company to increase their media spend with the majority of their budget directed toward AI.
Higher Quality Leads
But decreased cost per lead is not the only benefit that AI has brought to Orangetheory’s marketing – as reported by Digiday, it has also produced higher quality leads across the board. Orangetheory’s AI platform is working 24/7 to study the consumer behaviors and is tracking everything in an effective and efficient way.
The AI generated leads are also unveiling new audiences the gym didn’t know they could attract. Orangetheory once believed that their main target audience was women aged 35 with an annual income between $80,000 to $100,00. Their smaller target was 36-year-old men with a similar income range. With this new AI-powered discovery, they have found they have a distinct following from 18 to 25-year-old women and men, and that the majority of their audience comes from collegiate sports and music platforms.
Imagine the number of hours it would take a human to analyze all of the data that an AI-enabled marketing platform figured out in a short amount of time? That would be a lot of days without sleep or coffee breaks! Orangetheory is just one (a great one) example of what AI can do for media optimization, audience discovery and conversions.
ConversionPoint’s AI-Enabled Platform
The addition of machine learning to ConversionPoint’s DriveBy platform, has powered some amazing media optimization results. It matches media buy information with landing page information, analyzes the results at the point of conversion, and then automates the best combinations for optimal cost-per-acquisition.
We recognize that it is crucial for technology to adapt to the way consumers interact with media, which overall is unpredictable and always changing. ConversionPoint Technologies CTO, Haig Newton, perhaps says it best: “The best e-Commerce solution must be flexible and trainable, with algorithms that can rapidly analyze and predict results from all possible combinations. As more new media channels come online, traditional methods of media optimization simply become too difficult or even impossible for humans to perform in high volume. DriveBy with Cruise Control makes it possible in an easy and highly-effective way.”
Interested in optimizing your conversions and increasing your high-quality leads? Have a chat with our DriveBy team.