Excerpt: Last year, Speqta, a contender in both the online leads generation and performance-based marketing space, launched the beta-version of their next-generation AI-based bidding platform for Google Shopping Ads, Bidbrain™.
Just a couple of months ago, Speqta released the closed-beta version of their next-generation AI engine for bid-optimization on Google Shopping Ads, Bidbrain.
Speqta has always been a forerunner in driving innovation in the e-commerce space. Their goal as a company is to ‘redraw the map’ that marketers use to guide them through online lead generation and performance-based marketing. And this mission hasn’t changed with the arrival of this new AI engine, which is an evolved and repackaged form of their previous AI engine, Shopello Bidbrain.
In fact, it’s only bound to grow bigger! With the results of their late-fall testing having seen significantly positive results!
Bidbrain | Overview
The Founder and CEO of Bidbrain, Fredrik Lindros, describes the Bidbrain engine as follows:
“We developed Bidbrain to be ‘THE’ tool for e-retailers to use for optimizing their bids on Google Shopping Ads and managing their product feeds.” He also goes on to say that, “It doesn’t take much to win with Bidbrain. It’s very good at doing its job on its own merits, so it doesn’t take much effort to put into use.”
As for Bidbrain’s functionalities, the AI-based engine was developed to have three primary advantages over other alternatives:
- Visible increase in sales at a lower CoS% (Cost of Sales) or higher ROAS (Return on Ad Spend).
- Full insights and 100% transparency for maximum control.
- Latest granular bidding AI technology for outperforming competitors.
But, what exactly do these advantages mean? And, how can you make use of them in order to push for your business’s maximum growth? Let’s break it down below!
1. Profitable Growth | Benefits of Bidbrain
Google Shopping Ads, in general, have always been known as one of the best ways of producing convertible traffic and driving sales online. In fact, since 2018, Google Shopping Ads made up over 75% of all retail ad spend.
As a tool for optimizing bids for Google Shopping campaigns, it’s only right that Speqta built Bidbrain into something that will help e-retailers bid for traffic more efficiently to produce the best possible results. And, that’s exactly what they did!
Fredrik Lindros, when asked about what kind of results users can expect by using Bidbrain, states, “The results will (of course) be slightly different based on the retailer’s experience levels and their previous setup. However, no matter how big or small the retailer is, or, even, what industry they’re in, the results so far have always been positive.”
More specifically, based on Bidbrain’s early testing, they found that “online retailers that use (their) product can expect around a 10-20% reduction in CoS at a given amount of sales, or a 10-20% increase of sales at the same CoS or ROAS (Return on Ad Spend) percentage.” And this is with a potential rise in sales ranging from 20-50%.
2. Full Insights & Transparency | Benefits of Bidbrain
Bidbrain’s next biggest advantage over its competitors (especially Google’s own smart bidding strategies), is the fact that it provides full insights.
All of its functions are available to you at 100% transparency, which is different from Google’s own black box bidding strategies that leave room for doubt when it comes to whether or not it is working at full efficiency. This dilemma is further described by Fredrik Lindros, who says:
“Unlike Google’s own tools, Bidbrain was designed to reveal all data. So, e-retailers will always know where their bids are going, and they can rest easy knowing that the AI is working 100% on their side. All while enjoying the extra functionalities provided by our sophisticated product feed optimization tools, the helpful insights given for future campaigns, and so on.”
3. Latest AI Technology | Benefits of Bidbrain
Of course, when considering an AI-based tool like Bidbrain, one cannot forget to look at its functions! Bidbrain is a tool for ‘smarter’ bidding — possible because of the advanced functionalities that it has. Including, but not limited to:
- Product feed optimizer for outperforming competitors
- Advanced data-clustering for seeking out the best bid strategies for max conversions
- Cluster bidding that allows for ‘sweet spot’ identification
- Bidding simulations for identifying bid success
To round it up: Bidbrain allows you to outperform your competitors and enjoy the ‘next-generation’ of bidding by sourcing data from your Google Ads account, analyzing that data, and presenting the insights to you for your personal use. With included functionalities that allow you to set up automated-bidding campaigns based on those insights so that it can bid for you in real-time, allowing you to fully control your traffic acquisition strategy!
The Bottom Line: Bidbrain
Bidbrain is definitely ‘next level’ as far as bidding is concerned, and it doesn’t hold back either when it comes to making sure that you’re staying on top of your game when it comes to optimizing your product feeds. So, suffice it to say, it’s one to keep in mind! We’ll definitely be keeping an eye on further updates as well.
