Companies with smaller advertising budgets finally have a tool to help them compete with larger players whilst capitalising on the increased e-commerce volumes in 2021 due to the pandemic. Genus AI introduce a self service marketing platform which enables brands to generate high performance ad videos, predict which videos perform best and launch campaigns on social media platforms using AI.
The recent pandemic caused an ongoing disruption of brick-and-mortar retail sector. Consequently e-commerce witnessed record growth with online sales going up nearly 44% and steadily increasing at the same pace in 2021. Therefore, the competition for direct response ads amongst brands is now fiercer than ever before, especially for small businesses. Brands strugle to produce impactful ad videos at scale and identify winning content combinations that can drive eCommerce conversions whilst achieving efficient Cost Per Acquisition and Return on Ad Spend.
In order to uncover top performers, companies need more content, as well as more budget to A/B test it. Genus AI launches it's self service video generation tool which helps brands tackle this expensive and time-consuming media creation challenge. It allows companies to generate videos for Facebook, Instagram and other media platforms. It also ranks generated content to indicate its potential performance on social media ads.
“Small businesses struggle to compete with large teams and big ad spend that established companies can afford,” said Dr. Tadas Jucikas, the CEO and Founder of Genus AI – a San Francisco based AI marketing platform. “This creates an unfair dynamic where the more budget you have to create assets and run expensive A/B tests, the more successful you will be regardless of your product quality, positioning or its impact on the world. Our mission is to erase this divide using AI and help the best teams and products win.”
Video is the fastest-growing ad format, accounting for 35% of all digital ad spend with yearly volume growth of nearly 30% YoY ($60 billion total). Fast-growing brands such as Sunday Citizen, Cook Unity, Porsche and others use Genus AI Growth Platform to ensure their creative process is scalable and the creative teams have quantitative insights generated by AI for the purpose of asset selection. The company reports that in addition to lower team costs Genus AI clients have observed up to 3 times improved ROAS and up to 30% CPA decrease on their Facebook and Instagram campaigns.
“Artificial Intelligence marketing solutions make a real difference. We are very happy about the consistency, which really stands out when you look at the Genus AI-powered campaigns. All of them exceed ROAS targets at a very similar CPA, which is never the case when we run various tests ourselves. Being able to achieve this with a small team is a game-changer for us” shared Mike Abadi, Co-Founder and CEO of Sunday Citizen.
“The Genus AI platform uses a proprietary deep neural network architecture to evaluate every component of image or video assets, evaluate and score product clips, photoshoots, user-generated content (UGC) and testimonials. It assembles thousands of ads, analyzes and shortlists the ones most likely to convert, then discards the rest. That cuts the production, data analysis, and A/B testing costs sizably, enabling brands of any size to produce and launch more effective campaigns,” Dr. Jucikas said.
“It is about time that brands, which normally would not be able to afford highly sought after data science teams, expensive agencies, or large creative resources are able to really make an impact,” Dr. Jucikas concluded.
Genus AI is a San Francisco based MarTech provider. The AI-powered growth platform enables brands of any size to automatically generate ad creatives and pre-determine which creatives will likely perform best on social media. Furthermore, it allows brands to model highly targeted, emotionally intelligent audiences. The company raised $7M VC funding to date: $5m in previously undisclosed rounds and the $2m angel round announced in 2018. Genus AI unlocks the next frontier of creativity and performance to enable brands of any size to efficiently grow via digital channels.