Scibids today announced that it has implemented its AI as a service solution for Charlotte Tilbury, leveraging Google Display & Video 360’s custom bidding feature, which has reduced customer acquisition costs by 29%.
Scibids AI-generated custom, full-funnel algorithms for the beauty brand to power up Google Display & Video 360’s custom bidding solutions. Within two months, Scibids say they have helped increase the conversion rate by 60% and doubled viewable reach within budget limits by optimizing frequency.
The challenge for Charlotte Tilbury Beauty, which other retailers selling high-value goods also face, is that it could not grow its media spend above a certain plateau without also growing the cost per customer acquisition beyond profitability thresholds. This is because high price point products drive fewer conversions at a higher price and this gives bidding algorithms less data to learn from.
As the beauty brand had fewer conversions to optimize from, Scibids AI generated tailored full-funnel algorithms multiple times a day that factored in relevant event data higher up in the user journey. This included valuing visits, clicks, and ad viewability as new input signals. From the start of the campaign, Scibids’ custom bidding strategy provided Display & Video 360’s machine learning technology with more events to learn from, saving precious time and limiting media waste. From there, Scibids AI kept dynamically informing Display & Video 360’s bidding tool with accurate impression scoring.
In addition, Scibids was able to give more weight to upper and mid-funnel events in the bidding process which allowed Charlotte Tilbury to increase viewable reach. Moreover, this avoided repeatedly reaching the same viewers with the same ad, which is a common re-messaging pitfall.
Andrew Leung, Global Head of Performance Marketing, Charlotte Tilbury Beauty, said:
“Scibids’ unique application of Display & Video 360’s custom bidding solution across our campaigns generated a step change in performance. We will now be doubling down on our first-party data strategy and plan on using those insights to enrich Scibids’ learning database. We are excited to leverage this partnership to further scale our programmatic effort.”
Remi Lemonnier, Co-founder & President, Scibids, commented:
“Within just 2 months we saw Charlotte Tilbury Beauty achieve fantastic results by reaching customers far more profitably. Display & Video 360 provides the perfect framework to unlock the power of Scibids customizable artificial intelligence. Our algorithms take the brand’s specific goals into account to design a personalized bidding strategy that can help them grow media efficiency and scale.”
*Scibids is a client of Bluestripe Communications, part of the Bluestripe Group, Publishers of New Digital Age