Inuvo Announces AI-Based Media Mix Modeling Solution for Probablistic, Cookieless Attribution
LITTLE ROCK, Ark., May 24, 2023 (GLOBE NEWSWIRE) — Inuvo, Inc. (NYSE American: INUV), provider of the first generative artificial intelligence (AI) advertising solution made specifically for brands and agencies, today launched a Media Mix Modeling technology as part of its IntentKey® suite of AI solutions. The IntentKey can now predict, based on historical spend and performance, the optimal mix of media for any given budget, across channels, without using consumer tracking IDs. Inuvo’s solution has been in beta for almost 24 months and is now available to clients and prospects.
Richard Howe, CEO of Inuvo, stated, “As the ability to identify and track consumers becomes increasingly difficult, the two biggest challenges for marketers are: how to find and target audiences and how to confidently determine budget across media channels. Inuvo’s generative IntentKey AI has solved the first of these challenges and has now been complemented by machine learning technology to solve the second.”
Mr. Howe continued, “As the number of marketing channels increases, so does the challenge of effectively capitalizing on advertising supply and demand economics across those channels. Marketers need to know how to predictively turn the spend amounts up or down, in any given period, across all the channels they use. This reality is further complicated by each channels’ motivation to overweight its own contribution to the consumers conversion.”
Accurately valuing advertising channels has been difficult due to their independence, resulting in conflicting claims for conversion events along a consumer’s path to conversion. This path includes various channels like social media, search engines, cable TV, online TV, display ads, online video ads, Twitter, LinkedIn, and others. Tracking IDs have traditionally played a crucial role in media attribution technologies for the advertising industry, however, the analytical challenge is further complicated by the limitations of tracking IDs. Apple’s stance on consumer tracking and Google’s planned discontinuation of cookies on Chrome browsers in 2024 are solidifying the shift towards cookieless solutions.
“CMOs are in a unique position. The foundation of everything they have historically used to find, target, track, and attribute a conversion is changing. By using the most advanced combination of machine learning technologies, IntentKey can now, with great confidence, predict the optimal spend across online and offline channels without requiring any consumer tracking methods. This predictive media mix modeling technology empowers CMOs by eliminating the need for biased, individual channel metrics. Instead, it focuses on the overall contributions of channels throughout the entire purchase process, safeguarding CMOs from the drawbacks of cookie deprecation,” Mr. Howe concluded.
About Inuvo
Inuvo®, Inc. (NYSE American: INUV) is a market leader in Artificial Intelligence built for advertising. Its IntentKey AI solution is a first-of-its-kind proprietary and patented technology capable of identifying and actioning to the reasons why consumers are interested in products, services, or brands, not who those consumers are. To learn more, visit www.inuvo.com.
Safe Harbor / Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including, without limitation risks detailed from time to time in our filings with the Securities and Exchange Commission (the “SEC”), and represent our views only as of the date they are made and should not be relied upon as representing our views as of any subsequent date. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in Inuvo’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 as filed on March 10, 2023, our Quarterly Reports on Form 10-Q, and our other filings with the SEC. Additionally, forward looking statements are subject to certain risks, trends, and uncertainties including the continued impact of Covid-19 on Inuvo’s business and operations. Inuvo cannot provide assurances that the assumptions upon which these forward-looking statements are based will prove to have been correct. Should one of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements, and investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. Inuvo does not intend to update or revise any forward-looking statements made herein or any other forward-looking statements as a result of new information, future events or otherwise. Inuvo further expressly disclaims any written or oral statements made by a third party regarding the subject matter of this press release. The information, which appears on our websites and our social media platforms is not part of this press release.
Inuvo Company Contact:
Wally Ruiz
Chief Financial Officer
Tel (501) 205-8397
wallace.ruiz@inuvo.com
Investor Relations:
David Waldman / Natalya Rudman
Crescendo Communications, LLC
Tel: (212) 671-1020
inuv@crescendo-ir.com
