AI Conversion rate

Industry: Advertising

Services: AI & ML

Year: 2020

AI & ML

Advertisements efficiency in lead generation and subsequent conversion can be increased by AI adoption

Client

Client is a leading firm dealing with advertisements and marketing in Europe. They approached us with the task to validate whether AI can improve the overall increase in lead generation and subsequent conversion rate by targeting prospective and potential audiences based on their behavior and interaction with different platforms. They wanted to find out if the available data can be analyzed deeper to draw conclusions and used more efficiently to help brands close more deals.

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The Challenge

Low planned schedule of ads

The Client did not have a fixed or planned schedule of putting up advertisements on selected platforms and hence the chances of customers engaging on the ads were very low.

No single data funnel in place

There was no single data funnel in place and analyzing the customer behavior and planning customized ads accordingly was not possible.

A need for more efficient capture and use of data

After running the ads, a significant amount of data gets lost if not captured and filtered. To achieve this, an AI based system was necessary.

A lot of Manual Innervation

As the existing process of lead management involved a lot of manual intervention, this resulted in increase in work time and more possibility of error. The manual process is also not very cost effective. Thus, the need for more efficient and cost effective AI automation was inevitable.

Challenges in advertisement

Building Proof Of Concept

During the AI sprint, to prove whether a business case can take help of available data and come to a conclusion, the data scientists in our team took help from a set of models and ran several trials.

The Solution

Increasing conversion rate Solution
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Performing exploratory data analysis: Based on the data obtained from the selected platforms about the customer behavior and browsing pattern, we performed exploratory data analysis on optimizing our model that predicted the ads that better suited the customer requirement and engagement pattern. Triggers were identified and fed into the model through
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Creating the first version of the predictive model: During the AI Sprint, our data scientists created the first model with the data the Client supplied us with. The model would help validate the hypothesis that AI can be used to overcome the Client’s business challenge.
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Conducting the AI Sprint with the test sample The created model was then tested with a set of customers selected randomly and data from their engagement was used to test the model and the end result was that the percentage of prospective leads and subsequent conversion increased by over 80% from the existing model. Thus the hypothesis got validated and AI adoption could be accepted to be successful for larger sample size as well.
Increasing conversion rate by using AI solution

Here’s a look at the solution’s architecture

increasing conversion rate by using AI solution’s architecture

The Outcome

Positive AI validation

During the AI Sprint, we have validated the hypothesis saying that advertisements efficiency in lead generation and subsequent conversion can be increased by AI adoption

Identifying high success rate of AI adoption

The certainty for success of AI adoption was discovered to be over 80% and the Client decided to proceed with further model optimization and AI adoption.

The Client decided to continue cooperation

With the successful implementation of the AI model and automation in the advertisement front, the client developed so much confidence in our product and service that they have also asked us to develop their web and mobile interface with latest technological implementations.

Technology Used

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My sql
amazon redshift
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