FreeWheel Launches New Solutions for Advertisers to Leverage CTV as a Performance Marketing Vehicle
August 13 2024 - 7:00AM
Business Wire
The Performance Suite, available within
FreeWheel’s Beeswax, enables automated and precise campaign
optimization and measurement on CTV.
FreeWheel, a global technology platform for the TV industry,
announced today the availability of the Performance Suite with
solutions created for activation on its demand-side platform,
Beeswax. The Performance Suite offers off-the-shelf, machine
learning-based solutions, in addition to Beeswax’s tried and true
customizable tools, designed to help buyers reach their CTV
performance goals.
With ongoing concerns around signal loss and lack of
deterministic identity used to represent the household, buyers face
inaccurate targeting, understated reach, and incorrectly attributed
conversions. Underpinned by FreeWheel’s unique identity solution,
the FreeWheel Identity Network, the Performance Suite tackles these
challenges by enabling more precise targeting, optimization, and
measurement through the use of both deterministic and probabilistic
identity resolution within the system.
“The shift in CTV viewership brings new ad opportunities, but
also presents challenges: CTV buyers primarily lean on IP addresses
to reach households, however, IPs are not a stable identifier. This
makes it difficult for buyers to accurately target and measure
users at the household level. That being said, measurable results
and the ability to optimize effectively remain non-negotiables for
performance marketers,” said Mark McKee, General Manager FreeWheel.
“With that in mind, we created an advanced set of results-driven,
efficient, and transparent tools for performance marketers to
accurately achieve their campaign goals while maximizing their
budgets.”
With the Performance Suite customers can:
- Reach CTV Performance Goals: Allows for precise audience
targeting, greater reach, and more measurable conversions. The
FreeWheel Identity Network enables household targeting,
optimization, and measurement on CTV with a combination of
first-party IDs permissioned for use from FreeWheel’s portfolio of
premium publishers, buyers’ first-party IDs, and industry-leading
identity graphs in a privacy-centric manner.
- Optimize Efficiently: Take advantage of a custom bidding
strategy without all of the custom work. The Performance Suite’s
off-the-shelf, advanced machine learning optimization models are
trained to use each client’s individual campaign data to improve
performance, rather than leveraging cross-platform data.
- Prove Campaign Effectiveness: Keeps transparency at the
forefront, by choosing from a range of measurement and reporting
options to dig into performance, from sophisticated Ghost Bidding
and incrementality reporting to granular log-level data.
One of the key machine-learning optimization capabilities within
the Performance Suite is a cost-per-acquisition (CPA) bidding
strategy, developed for each buyers’ campaign goals and based on
their data alone. One of FreeWheel’s agency partners, Optimal
Media, used the CPA bidding strategy on CTV inventory to drive 40%
more conversions with a 32% decrease in cost-per-acquisition for a
national automotive manufacturer.
“At Optimal, we are committed to utilizing cutting-edge
technologies to maximize the efficiency and effectiveness of our
clients’ media spend, and our partnership with FreeWheel has
allowed for remarkable success for a national automotive
manufacturer,” said Paula Thompson, Vice President, Client Strategy
at Optimal. “Together, we have driven increased conversions while
simultaneously reducing the cost-per-acquisition.”
As new challenges arise across the CTV landscape, FreeWheel will
continue to invest in the Performance Suite, with advancements
designed to provide stronger performance and efficiency for buyers,
generating a better CTV advertising experience.
About FreeWheel
FreeWheel empowers all segments of The New TV Ecosystem. We are
structured to provide the full breadth of solutions the advertising
industry needs to achieve their goals. We provide the technology,
data enablement and convergent marketplaces required to ensure
buyers and sellers can transact across all screens, across all data
types, and all sales channels, in order to ensure the ultimate goal
– results for marketers. With offices in New York, Chicago, London,
Paris, Beijing, and across the globe, FreeWheel, A Comcast Company,
stands to advocate for the entire industry through the FreeWheel
Council for Premium Video. For more information, please visit
https://www.freewheel.com/, and follow us on X and LinkedIn.
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Media Contacts: Meredith Fitzgerald 215-970-8504
Meredith_Fitzgerald@Comcast.com
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