Revealing revolutionary insights
GroupM was intrigued by the potential of using machine learning techniques to analyze its data. The company was able to draw on its longstanding partnership with IBM to discover a solution that proved to be just what it was looking for.
Baltazar Ozonek comments: “We have built up a deep and mutually beneficial relationship with IBM, allowing us to take advantage of the extensive network of resources they have across the Nordic region. For us, one of the biggest benefits of working with IBM is their strong presence in the Nordics. They proposed IBM® Watson Analytics™, a solution that could offer us a game-changing new set of capabilities.”
“As soon as I started playing around with Watson Analytics I could see the potential to change the way that we work and the results that we deliver,” says Emil Lauritsen. “After a month of experimenting, we set the wheels in motion to start rolling out the tool to the rest of the company. IBM Watson Analytics is so intuitive, and provides impressive results so fast, that as soon as we show it to anyone they are eager to start using it themselves.”
GroupM uploads huge datasets to IBM Watson Analytics and uses the solution’s built-in data discovery capabilities to reveal patterns and trends in the data. Equipped with these insights, the company can put together likely hypotheses about the right times and places to release ads. By studying the response to these ads, it can then use the solution to refine these theories. This creates a virtuous circle that enables continuous improvement, even during the course of a campaign.
“Reading about the potential impact of artificial intelligence is one thing, but seeing it in action with IBM Watson Analytics is staggering,” says Baltazar Ozonek. “We can take data from a whole range of sources—such as Google, Facebook and our clients—and analyze it at dizzying speed with Watson Analytics, uncovering all sorts of surprising insights into consumer purchasing behavior. More than that, we can use Watson Analytics to evaluate marketing campaigns while they are in motion, so we can continually adjust them for maximum impact.”
Enabling sky-high conversion rates
A month into its use of IBM Watson Analytics, GroupM is already seeing the positive influence on the service that it delivers to clients.
Emil Lauritsen comments: “We have already been able to achieve a 50 percent increase in the conversion rate for an existing marketing campaign with IBM Watson Analytics. It is exciting to think that we have only just scratched the surface when it comes to the possibilities that the solution offers us.”
By providing results from analytics much faster, the solution enables GroupM to reduce the time that it spends on setting up new campaigns and refining existing ones.
“Before, we would spend an average of five hours a week evaluating whether a particular campaign was working well or not,” recalls Emil Lauritsen. “Using IBM Watson Analytics, we can cut this time to just one hour per week. When you think of this benefit multiplied across the hundreds of campaigns that we work on each month, the resulting productivity increase is huge.
“As a result, we can have more time to spend carrying out the optimizations, and we can serve more clients with the same headcount. Critically, this time saving doesn’t come at a cost to our clients—in fact, the opposite is true, and we can deliver much more accurate recommendations in significantly less time.”
Looking to the future, GroupM sees the solution as a critical tool in its strategy to retain its industry-leading position. And by better targeting clients’ campaigns, the company is helping to reduce the number of irrelevant ads that consumers encounter.
Baltazar Ozonek concludes: “IBM Watson Analytics helps us make sense of the complexity of what we do by structuring our data in a useful manner, so that we can leap ahead of competitors in our industry. We are now ready to take on larger and more complicated datasets than ever before, and extract hidden truths that will help our clients target their ads more effectively. In the process, we ensure that consumers come into contact with more ads that are relevant to them, enhancing their experience and protecting our clients’ brands from over-exposure.”