Over the past decade, we’ve seen a humongous upheaval in the E-Market industry, a battering ram that took the form of Artificial Intelligence (AI) and Machine Learning. 2020 now sees us off with the introduction of Bidbrain™! A late-year addition to the e-commerce space that introduces a solution for investment optimization on Google Shopping and growth acceleration.
Bidbrain™ was developed by Speqta, whose CEO, Fredrik Lindros, describes the tool as an intelligent advanced bidding solution that provides insights on which product titles have the best chance of converting, allowing retailers to get ahead of their competition.
If you want to learn more about how Speqta’s Bidbrain™ works and how it can help you bid smarter on Google Shopping Ads, continue reading down below:
How Does the Bidbrain™ AI Work?
These days, it’s nearly impossible to keep up with the sheer volume of bidding clusters and available strategies for bid placements on Google Shopping Ads (also called Product Listing Ads or PLAs). Especially when dealing with different brands, different consumer devices, current prices vs competitor pricing, the time and date, geography, and every other relevant parameter that makes up the different bid cluster possibilities.
But, Bidbrain’s AI was designed with intelligent machine learning algorithms that are capable of taking all those parameters and getting you the best possible outcomes.
Even more than just your average AI bidding tools, however, Bidbrain offers:
- Product feed optimization for maximizing conversions
- Advanced clustering of historical data for locating the most relevant bidding strategies for maximum conversion
- Cluster bidding sweet spot identification
- Bidding simulations to validate bid-success
Overall, it can manage and analyze endless amounts of data and surpasses just about anything that a regular human (or, even, a thousand mathematical geniuses, according to CEO Fredrik Lindros) can do in a shorter amount of time and with no risk of human input error.
By using Bidbrain, you can be certain that you are bidding on the product titles that promise the best possible chance of conversions — not just clicks. Of course, it doesn’t completely erase the need for human input in marketing activities, but it does make it a lot easier. With it, you can be certain that your investments are highly optimized and that you are moving at an accelerated growth rate that can’t be matched by competitors too hesitant to accept AI.
How to Use Bidbrain™
This AI-based bidding tool was designed to be used for Google Shopping Ads. And it’s been through a couple of iterations in recent months as Speqta saw the product through a closed-beta version that tested out all of its functionalities.
The new and improved version of the AI is available under the domain Bidbrain.com and is ready for early access. The software itself requires very little installation to start working. And, it’s fully integrated into Google Ads, so the retailer can view how the AI is bidding in their stead.
Not much input is required from the retailer in order to get Bidbrain™ to work. All that’s needed is for you to connect Bidbrain™ to your Google Ads account and then input a product feed for it to start working on.
Unlike similar tools in the market, Bidbrain™ was set up to be as dynamic as possible for retailers. It can be used to discover the best converting product titles and there are endless custom label possibilities for testing out parameters to derive bid levels. And, even better, unlike Google’s Smart Bidding options, it operates at 100% transparency. So you can always verify that it is working to maximize sales and conversions based on your set CoS% or ROAS%.
Conclusion: Should You Try Bidbrain™?
If you’re interested in getting ahead of your competition in Google Shopping, then Bidbrain is one of the best ways of simplifying and optimizing your bidding experience.
It was designed specifically for pushing growth. And, early reports from Speqta’s autumn and winter-testing with Bidbrain’s earlier iterations have shown some incredibly positive results. With the average e-retailer reporting one of the following:
- 10-20% CoS (Cost of Sales) reduction at a given amount of sales
- OR 10-40% increase of sales at the same CoS or ROAS% (Return on Ad Spend)
So, if you’re an e-retailer looking for a smarter way to optimize your investments and increase your sales, then Bidbrain just might be the solution you’re looking for. Fredrik Lindros, CEO of Speqta has confirmed that the results mentioned above are for all industries and businesses of all sizes. So, there’s really nothing to stop you from trying out the product yourself.