When it comes to advertising, staying ahead of the curve is absolutely necessary in today’s everchanging world. That’s why Awlogy is focused heavily on innovation to make sure clients get the most bang for their media buying buck.
As a result, Awlogy has developed Performance IQ, a proprietary algorithm that sits on top of ad technology, media platforms, networks and direct sites in order to increase media reach, reduce waste, boost customer engagement and performance.
In other words, that’s media talk for increased sales, foot-traffic, leads or overall awareness for your brand or clients.
“Based on our tests and past campaigns we've been able to determine that a majority of campaigns are wasting an estimated 20-40% of their impressions along with up to 60% of their customer engagement the moment they press go.” said Chad Recchia, Cheif Strategist & Co-Founder of Awlogy. “Over the past 2 years, we developed Performance IQ to sit on top of media buys and ad techs to ensure our agency partners and clients are maximizing their media budgets and performance at all times. The realm of media is rapidly getting more innovative and that also means more complex. Having a solution like this helps ensure you are getting what you paid for regardless of the players (ad tech, vendors, account managers) involved.”
"...a majority of campaigns are wasting an estimated 20-40% of their impressions along with up to 60% of their customer engagement the moment they press go.”
Why create Performance IQ?
The motivation for building Performance IQ stemmed from Awlogy’s desire to ensure agencies and brands get the most out of their media by regaining those lost impressions and maximizing customer engagement potential.
"There needed to be a better way of standardizing how advertisers make impressions and performance more efficient across multi-layered omnichanneled campaigns regardless of how many ad technolgies, platforms, sites or networks you are running on without skipping a beat." Recchia mentioned.
By cutting out the fat and paying attention to common overlooked steps from all angles of the media buying chain, clients can be put at ease that nothing is left to chance or assumptions. Be it video, search, social, radio, ad tech, site direct or platform, the algorithm is designed to monitor, analyze and adjust over 40 different major and minute points that most clients just dont have time to address.
"Both agency and brands depend on partners like us to make sure they are staying ahead of the curve and their media isn't wasted. This is just one more step in that direction." Ben Brodie, Director of Agency & Strategic Accounts.
Understanding how Performance IQ works
Performance IQ sits on top of your campaign including any ad tech, platforms, networks or direct sites you may be running and a complex algorithm audits and adjusts over 40 different points. Using that data, our system then identifies where your audience is responding the best and where impressions are being wasted. The algorithm makes its assessments based on individual campaign KPI’s.
“We designed the algorithm to start broad and narrow down analysis to very specific elements of a campaign,” said James Williams, Senior Product Manager for Performance IQ. “Working with a team of computer scientists and mathmetician geeks, we identified over 40 points that were most common for attributing lost impressions and would increase campaign performance. Naturally, as we started to cater to those areas on a more standardized level, we started seeing large improvements in performance.”
With its capacity to continuously monitor and audit ongoing campaigns, the algorithm answers a simple question: what areas should we continue investing in to see the best return?
“Audience buying and media today are very complex and a lot of your budget can go to waste if you don't know what to look for. That means fewer customer gains, fewer visits, fewer conversions, etc.” Recchia said. “What we designed is aimed at thinking two steps ahead and ensuring you are getting what you paid for.”
Early results of Performance IQ have shown promise. A recent direct response campaign that employed Performance IQ saw a 58 percent increase in ROAS compared to one that didn’t. Branding and awareness campaigns have also experienced success and have seen anywhere from a 20 to 40 percent increase in impressions utilizing Performance IQ.
Assimilating artificial intelligence is the next frontier for Performance IQ to conquer. The hope is that the algorithm will integrate IBM Watson in its next phase. With AI in the fold, Performance IQ would be able to automate insights and performance checks.
With ambitious plans ahead for further development of the platform, one thing is certain, Performance IQ is just scratching the surface of its potential.