Artificial intelligence (AI) platform Magnetic unveiled what it calls the industry’s “first AI-optimized audience segmentation product” on Tuesday. Live Audiences provides programmatic advertisers with customized segments using predictive algorithms based on machine learning, the company told MarTech Today exclusively.
The audience segments are created based on 300 million live consumer profiles Magnetic developed using its proprietary search and shopper data, some third-party data sources and the advertisers’ first-party data, according to the company.
Other companies provide segmentation data, but they don’t provide the level of information the same way, Chief Marketing Officer Alex Kelleher told me ahead of the launch.
“[These segments] are highly customized,” Kelleher said. “They are created for one specific client at a time. And they are created in real time. We maintain and refresh our segments to the minute, pretty much.”
Chief Executive Officer Corey Ferengul went into further detail, explaining how Magnetic’s product can drive conversions.
What you don’t see today is if you’re using data, you’ll typically get a segment that’s already been created or you can get some sort [of] real-time data, but it’s generally a generic segment. We’re doing a custom segment for your campaign that is updated at a minimum once a day. And it’s based on not just your data, but it’s based on other data, other information that we obtain and then datascience to predict conversions and bid differential based on conversion potential. So, it’s highly customized offering.
Another benefit of Live Audiences, Ferengul and Kelleher told me, is that it can be used with a client’s current DSP (demand side platform) and on any media type or format.
“To date, the industry’s AI efforts have focused on improving bid decisioning and optimization algorithms, overlooking the most critical campaign component — the audience,” Ferengul said in a press release announcing the launch. “With Magnetic Live Audiences, we bring the power of machine learning and AI automation to audience creation and optimization.”