“DO NOT USE THE STARTUP WORD. CONSIDER EVERY PROJECT AS A BUSINESS »
Dmitry Bilash, together with his partner Dmitry Pleshakov, managed their own digital agency. After they decided to leave for data science. For the past two years, they have been developing the startup Captain Growth – they are introducing artificial intelligence for marketing analytics.
More than 2000 companies use their product.
In April, Captain Growth startup was bought by the Israeli company Perion Network. The deal amounted to $ 3.75 million.
We ask Dmitry Bilash what will change after the transaction, how technologies help marketing and what to consider before launching a product.
What will change after the deal
After merging with Perion, we continue to develop and improve the product. Now we have more resources to make it cooler.
For employees and customers, everything will change for the better. We are improving the terms of cooperation, moving to a new office, expanding the team. Four people have already been hired and in the future we plan to expand the staff from 8 to 20 employees.
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The deal opens up more opportunities for a startup to create a quality service. On the one hand, we can now quickly hire people and do long-term planning. On the other hand, access to wide expertise appears.
Our colleagues from Israel and Paris help us in improving the product. This is a comprehensive integration.
How technology helps marketers
Imagine you have an online store and sell phones. You are advertising your product on Facebook, Google and other platforms. All user data can be collected and used in the work. This is a huge array of information.
Marketing a new product.
Theoretically, a marketer can analyze the data and draw conclusions: find the points of business growth that need to be strengthened, understand the problems, figure out how to save money.
But in practice, most marketers do it irregularly or do not do it at all. Deep analytics is always complex and time consuming. Often lack of effort, perseverance, and even knowledge.
There is a problem: there is a lot of data, but to use them to the full is not so simple.
Marketing a new product.
Our product automates this work. First, we look for possible growth points and problems that can be solved. Further – we advise what actions can be applied in each individual case. If the user agrees, we execute.
Our technology provides ready-made solutions: where to send money, where to save, where on the contrary to invest more. The machine processes a lot of data and generates ideas on how to use it for marketing purposes.
For example, you can analyze the phone store and say: “This ad for men from Kiev on Friday works best. We suggest increasing the budget for it by 10%. ”
The marketer looks at the recommendations: if he agrees, presses the “ok” button and everything is applied automatically.
What is the power of automation
In the future, artificial intelligence will become a ubiquitous business assistant. Why? The task of the business is to be as effective as possible. Automation is efficiency.
Technologies based on artificial intelligence and data science can automate many processes. They take people from areas where they are ineffective, and move them to where their work will do more good.
Marketing a new product.
People will be less engaged in routine monotonous work and more make creative interesting decisions. In the future, the trend will intensify.
I think this is a mostly positive story. Yes, now many are afraid of losing jobs. But each new industrial revolution brings so many new jobs that everyone forgets about the old.
About AI Marketing Case Studies
We have such cases – more than 2000. For example, I personally saw how the guys in Singapore reduced the price for one client from $ 52 to $ 17. I know a company that has expanded marketing spending on the recommendation of our product and their monthly income has grown from $ 1 thousand to $ 30 thousand.
It all depends on the size of the business. If the company is young, we help grow, we advise how to avoid mistakes. For large businesses, our effect can be in 10-30% optimization, since all processes are streamlined.
In absolute terms, these are thousands of dollars from advertising budgets.
We measure the benefits of a product in three paradigms:
Marketers can analyze data and make decisions themselves. But it takes a lot of time. Our product saves from 16 hours a week.
Stable customer acquisition rate
You can increase the budget, but the big problem is to spend it efficiently. The higher the expense, the higher the price for an individual user.
We make sure that the amount per client remains the same for any budget.
Depending on the scale of the business, we help save 20% of money, which is often wasted.