Goodway Group Develops Algorithm to Manage Ad Frequency
Value-added Service Designed to Maximize Targeting of Consumers
Goodway Group, the U.S.’s leading managed-services programmatic partner to local, regional and Fortune 500 brand agencies, has developed a value-added proprietary service for their clients to help maximize mismanaged frequency targeting in digital ad campaigns – an issue currently causing marketers to waste approximately four percent of their total spends.
When targeting users through typical digital campaigns, marketers can set a daily limit of ads they can serve throughout the day or set a campaign cap of how many ads they can serve over the course of a campaign. However, when marketers use this “set it and forget it” model of serving ads, they’re missing out on a portion of prime impressions and possible conversions – because many who are repeatedly served have no purchase intention.
These ads are being repeatedly served to users who have either already been exposed enough times to indicate they won’t take action, or they simply have no intention of taking action to begin with. Yet many marketers continue to serve these non-buyers the same ads because of the “set it and forget it” model, leading to wasteful spending by marketers who aren’t achieving the highest possible conversion rates.
In studying this issue, Goodway created an innovative proprietary algorithm solution.
The algorithm went through 30 days of development and an additional 30 days of testing to ensure its success in optimizing target audiences. The algorithm is capable of deciding when it’s no longer worth showing the same user another ad impression and when it’s instead advantageous to show a different user with less frequency an additional impression.
Jay Friedman based in Plano, Texas, is the COO of Goodway Group. He states, “Four percent of a digital budget may not sound like a lot. However, in this day and age, a typical digital ad campaign has a $10 million budget. So $400,000 then becomes a large chunk of the budget that could be used much more effectively.”
Goodway Group uses this value-added service to ensure their clients receive the highest conversion rates possible on their digital ad campaigns.
Goodway Group is a leading managed-services programmatic partner to local, regional and Fortune 500 brand agencies. Bootstrapped and 100 percent privately owned since 1929, Goodway moved into the programmatic digital media space in 2006 to continue its rich history of tackling complex local and regional campaign executions with data science-driven targeting and support services to make achieving success easy for agency clients. Its proprietary algorithms pair with a technology-agnostic approach to enable agencies and marketers to achieve their ultimate goal – better results while remaining lean and nimble. For more information go to www.goodwaygroup.com