New Australian AI platform to predict digital ad success before you hit send
This Brisbane AI startup claims to be able to predict ad creative success on various platforms with 82.4% certainty.
Junction AI, artificial intelligence start-up coming out of Brisbane and Austin, Texas claims to have developed a proprietary machine learning platform that takes the guesswork out of selecting creative and copy for Google Ads, social media ads and web promotions.
Ostensibly, marketers will be able to drag and drop their images and text onto the Junction AI dashboard and receive a percentage score of the probability that their promotion will convert a certain target audience. The startup says marketers, agencies and business owners can expect to predict the success of digital advertising with a confidence interval of 82.4%.
The platform is currently in pre-release testing and proof trials with 12 agencies and brands in the US and Canada, with tests in the Australian market to begin soon.
“We are seeing up to 90% reduction in time and cost of selecting the creative image and copy, and early testing is showing as much as three times better results on ads in B2C within a few days,” says Junction AI cofounder Vance Reavie.
Junction AI says its platform derives as many as 28,000 data points on a piece of ad creative, then runs up to 75 million tests to make predictions on the success of an ad – all within a fraction of a second.
“There is a lot of scrutiny on digital ad budget growth at the moment, with clients demanding smarter spend,” Reavie continues.
“Digital ads are an $8.8 billion market in Australia – $300 billion in the US, yet only 2% or less of these are converting. Marketers and agencies only need to change that rate from 2% to 2.5% to increase their ROI by 25%.”
Reavie and his cofounder Robert Turner, who also acts as Junction AI’s CTO, met while working on a major Brisbane government IT project together. The pair have been colleagues ever since.
According to Reavie, Junction AI has met with more than 100 marketers to present the platform, “Before we even had a product to show we contracted over US$50,000 in sales,” says Reavie.
“Taking the business’ audience data, our AI machine learning platform creates a unique model and continually learns,” says Turner, “providing marketers and agencies with insights that are unique to their audience and specific to the channel.”
“For example, in a digital ad for a travel company we don’t need AI to tell us that is a photo of a snow-capped mountain,” Rob said.
“But we do need it to analyse the thousands or millions of customers and how they react to or perceive the image – i.e. a great hiking or heli-skiing opportunity – to know if it will be a successfully engaging ad.”
The company is now planning its full product launch and hiring additional team members across both its Brisbane and US headquarters.
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Image credit: Kichigin Aleksandr