Scibids Helps Charlotte Tilbury Beauty Reduce Cost Per Acquisition (CPA) by 29% With Custom Bidding
- Within two months the beauty brand saw a 60% increase in conversion rate and doubled viewable reach within budget limits by optimizing frequency
NEW YORK–(BUSINESS WIRE)–Scibids, the global leader in artificial intelligence (AI) for digital marketing, 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 has 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 off, Scibids AI generated full-funnel, tailored algorithms multiple times per 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 remessaging 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.”
ENDS
About Scibids
Founded in Paris in 2016, Scibids is the independent global leader building Artificial Intelligence to make marketing more effective. Scibids AI supports strategic business outcomes for brands by building customizable algorithms for powerful ad decisioning that does not require user tracking and profiling. Scibids AI is enabled within leading Demand Side Platforms, helps unify the ad stack between planning and measurement, and delivers measurable ROI for a long-lasting competitive advantage. Scibids works across the digital marketing ecosystem, is used by thousands of brands and embraced by their media agencies worldwide. Learn more at www.scibids.com and download “AI, Privacy and the Future of Digital Marketing,” a marketers guide to growth in the post-cookie digital ecosystem.
Contacts
For further information, please contact:
Bluestripe Communications: scibids@bluestripegroup.co.uk
Libby Darcy: libby.darcy@bluestripegroup.co.uk