Today, Magnetic, a digital marketing, ad targeting, and artificial intelligence company based in New York, announced the launch of its very first completely automated and transparent media buying platform, Magnetic Force. Force is fully driven by AI and aims to simplify the management of campaigns by automating the process from beginning to end. In addition to being one of the most comprehensive automation tools available on the market, it also offers media buyers a deep level of transparency into all the details involved in media buying and decision-making through artificial intelligence.
In addition to the launch of its new platform, Magnetic also has a new CEO. Ad tech veteran, Corey Ferengul, replaces former CEO James Green who was CEO for the past six years. Ferengul previously served as Chairman of the Board of Directors for Magnetic and will remain in this role alongside his new role of CEO. Prior to joining the board, Ferengul was Chief Executive Officer of Undertone, in which he helped to lead the company to a $180 million sale to publicly traded firm, Perion Network.
Magnetic Chairman and Chief Executive Officer, Corey Ferengul, said about the new platform launch, “Programmatic buying is the primary means of transacting digital ads today, and its underlying processes and technologies are challenged by growing data volume and velocity. Today’s programmatic platforms need to be driven by machine learning and AI so data of any size and recency can be used to improve ad decisioning and delivery. We are thrilled to announce Magnetic Force as a significant step forward for the industry in AI-driven automation and transparency.”
Driven by Magnetic’s AI-focused platform, Force can understand and analyze 320 million live consumer profiles that Magnetic has gathered and maintained over the past ten years. Detailed lists of consumer attributes, actions, and interactions help to ensure that specifics are automatically drawn at the time of campaign launch. As machine learning continues to evolve, such information will become increasingly profitable and beneficial throughout the duration of each campaign.
The Force is destined to become one of the best tools that media buyers tap into as it can accomplish so much with minimum manual intervention, saving media buyers both significant time and money. In just 5 simple steps, campaign setup is started and finished. Campaigns can go live within minutes and time is reduced by approximately 50% when it comes to individual campaign management. The Force is a platform that media buyers can thoroughly get excited about and begin to see significantly boosted programmatic campaign performance.
The Magnetic AI-based Force Platform has successfully pushed campaigns for Magnetic since mid-2017. In October, it became available for use by select clients. It is now available to all advertisers for smarter, faster, and more effective advertising.
