Power Digital Adds Creative Analysis Tool

In California, marketing firm Power Digital has enhanced its nova Intelligence platform with the launch of Creative Affinity, an ad creative analysis module designed with support from Meta engineers.

In January, Power Digital acquired Endrock Growth and Analytics, which has offices in the US and in South America and focuses on Conversion Rate Optimization (CRO), data analytics and science-based 'growth experimentation'.

The firm says nova automatically converts complex information straight from a brand's web site, media activities and CRM to deliver 'meaningful, pointed insights that can quickly be leveraged to drive immediate impact on business growth'. To date it has three modules: nova Forecasts, using machine learning and AI to predict revenue trends in real time; nova Cohorts, identifying the 'quickest win' audiences to drive immediate revenue growth, and nova Customer Insights looks at the behavior and preferences of both valuable and non-valuable customers, along with industry trends.

The firm says the new module provides 'a nuanced understanding of the lifetime value of customers driven by specific ad creatives', going 'A layer deeper' than current analytics tools which rely on top-of-funnel or granular insights to analyze and determine effectiveness. Creative Affinity looks at more than 25 key performance indicators for ads on platforms including Facebook and Instagram, allowing users to compare different ad creatives and benchmark their performance against industry standards; and to target creatives at specific customers to maximise lifetime value (LTV).

'Understanding how creative impacts our customer's lifetime value is a game changer' says Power's CEO Jeff Mason. 'It can - and will - produce an incredible amount of incremental lift for our clients'. Chief Strategy Officer Ben Dutter (pictured) adds: 'Creative is the best lever for improving advertising effectiveness. It has greater impact than any other lever typically associated with media buying, but it has always been difficult to tie it to the individual, long-term impact that a conversion generates for the business. The ability for us to connect not just the immediate transactional value of a given creative, but also the lifetime value of that customer, has a huge impact on calculating what an effective investment level is, where to optimize, and where to focus'.

Web site: www.powerdigitalmarketing.com/nova-intelligence-creative-affinity .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.