NEW YORK (PRWEB) January 11, 2018
Digital marketing and AI company, Magnetic, announced today the launch of the first fully-automated and transparent media buying platform, Magnetic Force. Powered by Magnetic’s machine learning and artificial intelligence platform, Magnetic Force simplifies campaign management by completely automating execution, from audience selection to bid decisioning and optimization. In addition to the most comprehensive automation available in the market today, Magnetic Force gives media buyers unprecedented visibility, exposing pricing, placement, and AI-decisioning that will set the new standard for digital transparency.
“Programmatic buying is the primary means of transacting digital ads today, and its underlying processes and technologies are challenged by growing data volume and velocity,” said Magnetic Chairman and Chief Executive Officer, Corey Ferengul. “Today’s programmatic platforms need to be driven by machine learning and AI so data of any size and recency can be used to improve ad decisioning and delivery. We are thrilled to announce Magnetic Force as a significant step forward for the industry in AI-driven automation and transparency.”
The Magnetic AI Platform enables Magnetic Force to understand and take action on the 260 million live consumer profiles that Magnetic has built and maintained over the past decade, each comprised of extensive consumer attributes, activity, and contextual indicators. Force sources these profiles to automatically generate campaign-specific audiences that are highly performant at launch and become increasingly profitable as machine learning evolves them in-flight.
Campaign performance and profitability is driven not only by automatic audience creation, but also Force’s AI-automated inventory selection, fraud mitigation, and bid optimization. Magnetic’s AI shapes incoming traffic, proactively filters malevolent or invalid activity, and optimizes bidding to achieve maximum performance at the lowest possible cost. Campaigns activated through Force are achieving up to 2-10x performance lift over standard, manual programmatic campaign management methods.
Because Magnetic Force can accomplish so much with little manual intervention, media buyers will also realize significant time savings. Campaign set-up in Force involves just 5 quick steps; media buyers can set their campaigns live in minutes, and reduce overall time spent on campaign management by at least 50%.
Media buyers are empowered to monitor campaigns and analyze details at any time. Magnetic Force enables full transparency, providing advertisers with unprecedented exposure to impression-level media pricing, placement, geography detail and more. Force will also enable a new level of visibility - “decision transparency” - to empower buyers to understand why Magnetic’s AI decided to purchase each impression by exploring user-level attributes used during AI-decisioning.
The Magnetic AI Platform has successfully powered Magnetic’s campaigns since July 2017, and became available through Magnetic Force for select clients in October 2017. Magnetic Force is now available to all advertisers for immediate use.
The company today also announced the appointment of Corey Ferengul to the role of Chief Executive Officer. Mr. Ferengul was formerly the Chairman of the Board of Directors for Magnetic, and will retain this role. Prior to joining Magnetic, Corey was Chief Executive Officer of Undertone, where he led the company to a $180 million sale to a publicly traded firm. Mr. Ferengul has an extensive and diverse background in leadership at public and private organizations including Rovi Corporation. He is an active angel investor and company advisor and a graduate of Illinois State University.
About Magnetic
Magnetic is a digital marketing and artificial intelligence company that uses machine learning to deliver smarter, faster, and more effective advertising. Our powerful AI platform continuously analyzes the attributes of 260 million live user profiles alongside real-time inventory supply and bid opportunities to deliver highly performant and profitable campaigns for our clients. Magnetic offers products and solutions to meet the needs of any media buyer, from fully managed service solutions to our completely automated and transparent self-serve media platform, Magnetic Force. For more information, email contactus(at)magnetic.com or visit magnetic.com.