With more and more companies embracing the AI revolution and enjoying the benefits that come with utilizing machine learning technologies, competition in the paid digital advertising space is surging. The failure to adopt and implement automated solutions to gain greater scale and higher granularity of targeting will ultimately mean losing market share to those who have already made the leap. The chore of managing campaigns manually or through inefficient legacy tools is further exhausting from a time investment standpoint, sapping working hours that could be spent focusing on growth opportunities and strategies.
Is this a scenario that sounds familiar? It certainly did to leading fashion retailer Hot Topic back in 2018. Their Search and Shopping programs were growing exponentially, creating a great deal of additional work for their two-man team, and it was becoming apparent their manual approach to bid optimization was both unsustainable and not yielding the desired results. Their strategy needed an overhaul.
Introducing Senior Digital Marketing Analyst Brian Lamb. He made the call to try a new approach. â€śIt was reaching a point of critical massâ€ť he recalls. â€śWe had no time to spend doing the work as well as we wanted to. We needed something that was more intelligent than just an excel spreadsheet.â€ť Brian began exploring various options and after speaking with his digital marketing colleagues at a Hot Topic sister company, he opted for QuanticMindâ€™s advanced data-science powered platform.
The Power of Data Science and Intelligent Bid Optimization
Two issues were plaguing Hot Topic when they approached QuanticMind: scalability and efficiency. What they wanted was really quite straightforward:
- To make sure they were making the best possible use of their budget
- To spend less time self-managing bids so that focus could be turned to strategy
Put simply, the task of managing over 4,000 PLA campaigns, each containing hundreds of product partitions and keywords, was exhausting Brianâ€™s time to a point where he was unable to effectively maintain and service his portfolio regularly. Intelligent automation was required. A use case ideally tailored for QuanticMind.
Integration began in August of 2018 and Hot Topic were soon taking advantage of the platformâ€™s data science techniques, pushing bids at a scale and a level of granularity previously unforeseen. The days of blanket bid adjustments have made way for sophisticated, intelligent optimization.
Today, QuanticMindâ€™s precise, AI-powered bidding algorithms are automatically and programmatically making in excess of 100,000 daily bid changes in Hot Topicâ€™s program, anticipating and executing the best investments. The result has been a 12% lift in ROAS, but this is only part of the success story. â€śThe time savings have been huge for usâ€ť Brian says. â€śPartnering with a technology that manages bids has ultimately allowed me to spend more time strategizing, thinking through to bigger projects, and focusing attention on the marketing tactics that will help the company grow.â€ť His dream outcome realized.
To ensure performance remains above idealized standards, Brian has weekly meetings with QuanticMind Digital – the agency arm of QuanticMind – and their team of SEM specialists to discuss ways to
Wish You Could Emulate Hot Topicâ€™s Success?
If you wish you could emulate Hot Topicâ€™s success story, good news. With the right tools at your fingertips, you can. If youâ€™d like to learn more about how Hot Topic achieved these results with QuanticMind, you can grab the case study and start leveraging the power of machine learning for yourself.
If youâ€™d prefer simply to dive in and get started, we can help. QuanticMindâ€™s SEM specialists are well-versed in coaching marketing teams to incredible results. Not only are we experts on the intricacies of machine learning and data science, weâ€™re also always in the know about the most cutting-edge new techniques that can drive your performance to levels not seen before.
Ready to take your advertising game to the next level? We are. Get in touch.