The Artificial intelligence (AI) platform Magnetic recently launched Live Audiences which is the “first AI-optimized audience segmentation product” in the industry. It would enable advertisers to customize their audience segments using predictive algorithms developed by machine learning. Magnetic is a digital marketing and AI-based company which develops smarter and effective advertising taking the aid of machine learning and AI tools.
Magnetic has developed a live consumer profile of 300 million audiences employing its proprietary search and shopper data along with the advertisers’ first-party data and some third-party data sources. Alex Kelleher, Chief Marketing Officer of Magnetic revealed “[These segments] are highly customized. They are created for one specific client at a time. And they are created in real time. We maintain and refresh our segments to the minute, pretty much.” The advertisers can now tap into the resources of AI with the help of Magnetic Live Audience (MLA) without any transformation in the buying platform or change in workflow.
The Chief Executive Officer of Magnetic Corey Ferengul explained, “What you don’t see today is if you’re using data, you’ll typically get a segment that’s already been created or you can get some sort [of] real-time data, but it’s generally a generic segment. We’re doing a custom segment for your campaign that is updated at a minimum once a day. And it’s based on not just your data, but it’s based on other data, other information that we obtain and then data science to predict conversions and bid differential based on conversion potential. So, it’s highly customized offering.”
Live Audience can also be used with the advertiser’s current demand-side platform (DSP) based on any media type or format. Ferengul and Kelleher further added, “To date, the industry’s AI efforts have focused on improving bid decisions and optimization algorithms, overlooking the most critical campaign component — the audience. With Magnetic Live Audiences, we bring the power of machine learning and AI automation to audience creation and optimization.”
It is assumed, Magnetic Live Audience (MLA) would completely revolutionize the advertising world.