SAN FRANCISCO, California, February 13, 2013 /PRNewswire/ --
Kenshoo, a global leader in digital marketing technology, today unveiled Kenshoo SmartPath[TM], a new product that is the first form of algorithmic conversion attribution designed from the ground up to improve digital marketing bid optimization. Kenshoo SmartPath applies sophisticated mathematical modeling to automatically optimize bids and help marketers make better decisions about where to invest their budgets. The product launch represents the latest in a long line of innovations pioneered by Kenshoo focused on solving marketing problems through disruptive technology.
"Successfully optimizing for a consumer's true path-to-conversion is one of the holy grails sought after in online marketing. As such, it's critical to apply the best investment strategy across all digital marketing channels to achieve optimal performance. That cannot be done without the right attribution methodology," said Gordon Magee, internet marketing and media manager at Drs. Foster and Smith. "Kenshoo SmartPath dynamically looks at each click and conversion across multiple channels and determines their true business impact. As a result, we've been able to meet and exceed our return on investment goals."
Through a patent-pending methodology, Kenshoo SmartPath creates a unique model of value allocation for each interaction in any given conversion path and dynamically adapts over time based on customer data, market changes, and media mix effectiveness. This provides marketers with an understanding of the actual impact of all interactions and delivers unprecedented accuracy in value-based digital media optimization. Kenshoo SmartPath considers many different factors to measure the contribution of each interaction to a conversion, including causality, synergy, and value of customer loyalty. Through its integration with Kenshoo Portfolio Optimizer (KPO), Kenshoo SmartPath activates more informed media forecasting and bidding.
"For too long, marketers have been forced to pick a static, pre-built attribution model that applies credit to interactions and directs investment strategies, but there is no one-size-fits-all solution," said Moti Meir, senior director and head of research at Kenshoo. "With Kenshoo SmartPath, marketers can leverage dynamically-calibrated attribution that is tailor-made from their data to reward each interaction for its true contribution and inform automated bidding accordingly. We're proud to put this game-changing solution in the hands of our clients."
For more information about Kenshoo SmartPath, visit http://www.Kenshoo.com/SmartPathWhitePaper and download a complimentary copy of "The Conversion Attribution Revolution."
Kenshoo's long history of digital marketing technology innovation began when the company launched its next-generation search marketing platform in 2006. Today, Kenshoo continues to provide the most advanced solutions available to advertisers, and was recently named "the only leader" in a bid management software evaluation by independent research firm, Forrester Research Inc.
Other results-driven innovations introduced by Kenshoo over the years include:
- Paid and Owned Social Media Attribution: the first social marketing platform to integrate paid and owned media for holistic attribution through a technology partnership with Shoutlet, leading to 5x revenue lifts from Facebook page posts amplified with ads
- Enhanced Management of Google Product Listing Ads: the first search marketing platform to enable management of Product Ads and Product Targets, with custom PLA bid algorithms boosting ROI more than 80 percent
- Kenshoo Portfolio Optimizer: the first search marketing platform to accurately forecast the impact of each bid change on a search marketer's entire keyword portfolio and bid to marginal ROI, achieving upwards of 80 percent increases in profit
- Kenshoo Editor: the first and only cross-channel desktop editor on the market, enabling bulk campaign management in a "copy and paste" environment and reducing time spent on complex tasks to 15 minutes or less.
- Call Conversion Optimization: the first search marketing platform to algorithmically optimize bids based on quantity and quality of phone calls as well as clicks, driving increases over 70 percent in lead volume
- Kenshoo Local: the first and only local search platform enabling advertisers, agencies, and publishers to effectively manage high volumes of individual campaigns to specific goals, decreasing time-to-value by as much as 40 percent
- RealTime Campaigns: the first search platform to integrate ad campaigns with product inventory feeds, automatically updating pricing and promotions in ads en masse, for revenue increases of over 200 percent
"At Kenshoo, we foster a can-do culture of innovation and our team of multi-disciplinary scientists and engineers make up more than half the company, so we're able to move quickly from concept to product when we identify solutions that will really make a difference to our clients," said Alon Sheafer, co-founder and chief strategy officer at Kenshoo. "In the case of Kenshoo SmartPath, we heard from chief marketing officers that they didn't have a reliable view of their conversion funnel across channels, and 20 to 40 percent of their revenue was not appropriately attributed to the proper media investment. These are the types of problems Kenshoo loves to solve."
Kenshoo is a digital marketing technology company that engineers premium solutions for search marketing, social media and online advertising. Brands, agencies and developers use Kenshoo Enterprise, Kenshoo Local and Kenshoo Social to direct more than $25 billion in annual client sales revenue. The Kenshoo Universal Platform delivers automation, intelligence, integration and scale to make better marketing investments. With campaigns running in more than 190 countries for nearly half of the Fortune 50 and all 10 top global ad agency networks, Kenshoo clients include CareerBuilder, Expedia, Facebook, KAYAK, Havas Digital, Hitwise, iREP, John Lewis, Resolution Media, Sears, Starcom MediaVest Group, Tesco, Travelocity, Walgreens, and Zappos. Kenshoo has 16 international locations and is backed by Sequoia Capital, Arts Alliance and Tenaya Capital. Please visit http://www.Kenshoo.com for more information.
Kenshoo is a trademark of Kenshoo Ltd. Other company and brand names may be trademarks of their respective owners.