The Marketing Intelligence Platform Admetrics, that supports advertisers with actionable insights for cross channel campaign optimization, announced the release of their latest product. Quantify, a fully automated experimentation engine, allows marketing teams to switch to an agile “always-on experimentation” process that amplifies continuous testing and campaign optimization.
According to Admetrics, Quantify is much more efficient than the current industry practice and outperforms traditional testing and experimentation methodologies by eliminating the flaws and inconveniences of A/B tests – such as long test periods, inconclusive results and limitations to the number of testable variations. Quantify equips campaign managers with analytical capabilities only available to experienced data scientists.
“Data science is central to today’s marketing, but marketing teams often rely on limited internal or external resources to analyze campaigns and carry out experiments”, says Markus Repetschnig, CEO and Co-Founder at Admetrics. “Quantify is built for marketers first and there’s no background in data science required to use it. With Quantify marketers can now take full control of their experimentation roadmap.”
Marketing Technology News: Video Commentary Explores the Role of Women in Ad Business With First-Person Interviews
According to the latest CMO Survey conducted by the American Marketing Association, the two main factors preventing companies from leveraging marketing analytics to its full potential are lack of tools (56.3 %) and lack of people (47.6 %). This leads to a limitation in analytics, testing and campaign optimization, resulting in ineffective campaigns and wasted budgets.
“With Quantify we were able to increase the ROAS of campaigns by more than 30%”, says the CMO of BoomBit Games who have been taking part in a pilot phase of the product. “It helped us to gain a better understanding of our audiences, how they react to new games and features and which targeting strategies work best. The results provided by Quantify are invaluable as they allow us to iterate faster and to optimize our advertising efforts.”
The Frankfurt-based company, that works with international brands and e-commerce enterprises, invested heavily in research of experimentation methodologies over the last years. According to its own studies published in a white paper, Quantify requires 60 to 90 percent less data than traditional methods to generate conclusive results by combining Bayesian statistical modelling with machine-learning algorithms. With Quantify, variations can be switched at any time while its results are guaranteed to be always accurate, allowing a highly accelerated campaign optimization cycle. With this new level of automation, advertisers are now able to test and optimize many aspects of their campaigns permanently, such as bidding strategies, audiences, creative elements and messaging to name a few.
Marketing Technology News: Trustpilot Closes $55 Million Series E Funding Round Led by Sunley House Capital Management
“Digital marketing has become unwieldy, squeezing mobile and app marketers to run scores of campaigns simultaneously and reducing the time and resources they have to spend on optimizing all the moving parts to make the match that will give them the edge,” observes Peggy Anne Salz, chief analyst and founder of MobileGroove. “Tools such as Quantify equip marketers to experiment and iterate at the speed of change—a must now that marketing must be both effective and emotive to motivate and activate audiences at scale.”
According to Repetschnig, always-on experimentation is a true game-changer: “Quantify does not only speed up decision-making processes; it also opens up a whole new spectrum of possibilities by putting experimentation at the core of marketing strategies. It accelerates the exploration of new channels or trends, the validation of product-market fit or pricing strategies, as well as the optimization of any kind of marketing campaign. The use cases are vast.”
Marketing Technology News: Gartner Suggests, Atomize Your Content to Drive Customer Experience and Personalization