Merkle Sokrati, the data-driven performance-marketing agency from Dentsu Aegis Network, has introduced a proprietary smart bidding tool for retail brands selling on online marketplaces.
The tool combines historical data with machine learning to calculate advertising budget for every product (bid) every hour, 24x7. These real-time bid changes are based on user intent, seasonality and sales trends to stay one step ahead of the curve. Retail brands with a wide range of products can optimise advertising spends across product categories to individual products with this data-driven bidding tool.
The new tool will analyse Amazon.in, which is the most visited e-commerce website in India that gets 60% of all online product searches. Advertising on Amazon allows brands to track high intent customers. This tool uses smart technology to optimise ad spends allocation to the 1.5 billion monthly searches. Merkle Sokrati clients have seen up to 20% increase in ad spend efficiencies after implementation of this tool.
Anubhav Sonthalia, CEO, Merkle Sokrati, said, “Having worked at Amazon, I can promise that they are in it for the long haul and will end up redefining the industry as we know it. We have seen strong traction for Amazon advertising with our Merkle US counterparts, and we expect India to do the same. With this intelligent bidding tool, we are introducing a volume and competition-tested smart bidding tool to this geography. We believe this will become a competitive advantage for optimising Amazon's ad inventory which is still relatively new to Indian marketers. As through our history, we continue to focus on bringing high ROI solutions for our marketers.”
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