Goodway Group, the digital partner advertisers trust to deliver campaign performance and media efficiency, announced that it has been selected as the winner of the “Best Predictive Analytics Solution” award in the fourth annual MarTech Breakthrough Awards program conducted by MarTech Breakthrough, a leading market intelligence organization that recognizes the top companies, technologies and products in the global marketing, sales and advertising technology industry today. In 2020, the Goodway Group was awarded “Best Data Visualization Solution” in the MarTech Breakthrough Award Program.
Goodway Group’s data science team built BidRange, an advanced machine learning model that predicts whether an individual ad group can benefit from a base bid update, working across display, mobile and native campaigns with eCPA or viewability objectives prioritized by the client’s primary success measure. Each week, the model predicts whether to increase or decrease the base bid for Goodway’s thousands of programmatic campaigns.
The platform uses signals from 23 custom-engineered features to keep the base bid at the optimal level, including the gap between the submitted bid and predicted clearing prices, the proportion of impressions going to top sites by impression volume and distribution of CPMs. If a Goodway Group media trader initially creates a campaign with an unreasonably high base bid, the solution makes a series of predictions that will decrease the base bid down to optimal. If the market shifts and a campaign’s base bid is no longer optimal, the predictive analytic solution detects and updates the campaign without intervention.
“Ad groups that received updates had 11% lower CPMs month over month than the control ad groups that only had a standard bid factoring algorithm applied,” said Jay Friedman, President at Goodway Group. “Our data scientists developed this predict and update solution so that traders no longer need to exert mental energy on this programmatic lever. In turn, they can focus on higher leverage activities to best support our clients, such as producing actionable insights that lead to better business outcomes. We are honored that the hard work of our Data, Science and Analytics team is being recognized by MarTech Breakthrough this year. The ceiling is so high in this space and we will continue to aim to break through.”
The mission of the MarTech Breakthrough Awards is to honor excellence and recognize the innovation, hard work and success in a range of marketing, sales and advertising technology related categories, including marketing automation, market research and customer experience, AdTech, SalesTech, marketing analytics, content and social marketing, mobile marketing and more. This year’s program attracted more than 2,850 nominations from over 17 different countries around the world.
“Successfully managing a programmatic campaign is a difficult task as there are many levers at a media trader’s disposal to optimize a campaign. Set the base bid too high, and you’ll be over-paying for impressions. Set it too low, and you’ll be unable to achieve scale,” said James Johnson, Managing Director at MarTech Breakthrough. “With this challenge in mind, the Goodway Group is a leading-edge digital partner that understands and is able to leverage the power of programmatic data so that marketers reach the right customer at the right price. Congratulations to Goodway Group, once again this year - this time as our ‘Best Predictive Analytics Solution’ award winner.”
About Goodway Group
Goodway Group is the digital partner advertisers trust to drive campaign performance and media efficiency. Proud to be completely independently owned and operated, Goodway provides trustworthy expertise that meets its clients' needs – and no one else's. Using predictive intelligence, Goodway helps advertisers get the most value out of every impression across all paid digital media. Through the combination of employing the smartest technology and the most experienced people in the industry, Goodway delivers authentic results. Find Goodway Group online at goodwaygroup.com.
About MarTech BreakthroughPart of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the MarTech Breakthrough Awards program is devoted to honoring excellence in marketing, ad and sales technology companies, products and people. The MarTech Breakthrough Awards provide a platform for public recognition around the achievements of breakthrough marketing technology companies and products in categories including marketing automation, AdTech, SalesTech, marketing analytics, CRM, content and social marketing, website, SEM, mobile marketing and more. For more information, visit MarTechBreakthrough.com.
Kite Hill PR for Goodway Group