Magnetic Announces Latest Media Buying Platform and a New CEO
Magnetic Force Comes to the Rescue of Brands Looking for Better Bidding and Transparency Options in Adtech Ecosystem; Corey Ferengul Takes the Mantle as the New CEO
Magnetic, a leading adtech and targeting company driven by AI technology, has announced the launch of a new media buying platform, Magnetic Force. Magnetic Force is branded as a fully-automated and AI-powered transparent media buying platform. In addition to the latest launch, the digital marketing company also announced Corey Ferengul as the new Chief Executive Officer.
At the time of these announcements, the new CEO Corey Ferengul, stated, “Programmatic buying is the primary means of transacting digital ads today, and its underlying processes and technologies are challenged by growing data volume and velocity. Today’s programmatic platforms need to be driven by machine learning and AI so data of any size and recency can be used to improve ad decisioning and delivery. We are thrilled to announce Magnetic Force as a significant step forward for the industry in AI-driven automation and transparency.”
Magnetic Force Takes Action on 260+ Million Live Consumer Profiles
Magnetic revealed that their new platform, Magnetic Force is designed to simplify campaign management by completely automating execution, from audience selection to bid decisioning and optimization. The post reads, “In addition to the most comprehensive automation available in the market today, Magnetic Force gives media buyers unprecedented visibility, exposing pricing, placement, and AI-decisioning that will set the new standard for digital transparency.”
Magnetic AI Platform Drives Maximum Advertising Performance Within an Optimized Bidding Model
The Magnetic AI Platform enables Magnetic Force to understand and take action on the 260 million live consumer profiles that Magnetic has built and maintained over the past decade, each comprised of extensive consumer attributes, actions, and contextual indicators.
Magnetic Force also sources these profiles to automatically generate campaign-specific audiences that are highly performant at launch and become increasingly profitable as machine learning evolves them in-flight.
Campaign performance and profitability are driven not only by automatic audience creation, but also Force’s AI-automated inventory selection, fraud mitigation, and bid optimization. Magnetic’s AI shapes incoming traffic, proactively filters malevolent or invalid activity, and optimizes bidding to achieve maximum performance at the lowest possible cost. Campaigns activated through Force are achieving up to 2-10x performance lift over standard, manual programmatic campaign management methods.
As Magnetic Force can accomplish so much with little manual intervention, media buyers will also realize significant time savings. Campaign set-up in Force involves just 5 quick steps; media buyers can set their campaigns live in minutes, and reduce overall time spent on campaign management by at least 50%.
Magnetic Force Adds More Transparency to Buying Process Leveraging AI-Decisioning
Media buyers are empowered to monitor campaigns and analyze details at any time. Magnetic Force enables full transparency, providing advertisers with unprecedented exposure to impression-level media pricing, placement, geography detail and more. Force will also enable a new level of visibility – “decision transparency” – to empower buyers to understand why Magnetic’s AI decided to purchase each impression by exploring user-level attributes used during AI-decisioning.
The Magnetic AI Platform has successfully powered Magnetic’s campaigns since July 2017 and became available through Magnetic Force for select clients in October 2017. Magnetic Force is now available to all advertisers for immediate use.
New CEO Corey Ferengul: A Quick Introduction
Corey Ferengul is the new Chief Executive Officer at Magnetic. Corey was formerly the Chairman of the Board of Directors for Magnetic and will retain this role. Prior to joining Magnetic, Corey was Chief Executive Officer of Undertone, where he led the company to a $180 million sale to a publicly traded firm.
Corey has an extensive and diverse background in leadership at public and private organizations including Rovi Corporation. He is an active angel investor and company advisor and a graduate of Illinois State University.