Bidnamic's CMO, Alun Davies, says that marketers are now more like software developers

E-commerce marketers today need to be equipped with digital skills, agile processes, and the latest technologies to make the best out of the present landscape, shares Alun Davies, Chief Marketing Officer at Bidnamic, in this interview with Media 7. Read on to find out how a specialized skillset can make marketers highly valuable in dynamic and growing markets.

Having the skills to undertake rapid market research, or to develop agile creative functions will become increasingly valuable for companies wanting to stand out from the crowd.


MEDIA 7: What inspires you the most about working with ambitious B2B entrepreneurs and technologists?
ALUN DAVIES:
I love working with technology visionaries who solve big problems in ways that are beyond the imagination of most people (including myself). As a marketer, this gives me an intellectual challenge in defining the audience and building a new marketing model. It’s also an exciting, emotional journey as often we are breaking new grounds and wanting to do it faster and better than the competition, which can be stressful but is very rewarding when the leads start to flow!


M7: What are some of the different ways Bidnamic helps its clients unlock the full potential of Google shopping?
AD:
Google Shopping is run through Google Ads, the auction-based advertising platform that has been the driver of Google’s commercial success since they launched it in 2000. Eight million businesses have spent $150 billion on Google Ads this year, which is an indication of how successful – and competitive – the platform is for e-commerce companies. Our clients usually come to us for one of two reasons:

  1. They’re already running very successful Google Shopping campaigns but have hit a growth ceiling that they can’t overcome.
  2. Retailers often struggle to generate a profit from Google Shopping as their Cost Per Acquisition is too high.

Bidnamic has an incredibly powerful and sophisticated machine learning platform that optimizes campaigns based on the specific goals of each client. It does this by automatically optimizing bids for each SKU in real time - 24 hours a day, 365 days a year. This is something that is beyond what humans can do manually, particularly as many e-commerce companies have thousands and thousands of SKUs. We also provide expert support services for our clients through weekly review meetings with our Client Success team: Google Shopping experts who get to know your business and are always just a phone call (or email) away.

Read More: Q&A with Gil Allouche, Founder & CEO at Metadata.io


Increasing competition in technology and SAAS markets means that differentiation and messaging are becoming increasingly difficult.



M7: How does Bidnamic help retailers on Google Shopping regain complete transparency and control on every SKU?
AD:
Many retailers come to us because they want to access valuable search data that is hidden in Google’s free 'Smart Shopping' automated platform. Unlike Smart Shopping, our platform provides full access to granular data down to the SKU level, including conversion rates, impressions, profitability, search terms and CPC, which our clients use to help optimize other marketing channels or to inform stock decisions.


M7: What is the best agile marketing function that you have helped create that has ensured high-quality growth?
AD:
Whilst we are only three years old, our platform has been six years in development and has already generated great results for hundreds of e-commerce clients. So our focus has been on getting the Bidnamic success story out to the market as quickly as possible. Initially, we focused on building an agile advertising function, rapidly developing libraries of case studies and adverts that we deployed in test campaigns across paid search and paid social channels. The results have been great – we’ve consistently beaten all our marketing KPIs – and we are continuing to test and refine existing channels, as well as exploring new ones. This year we’ve taken the same rapid deployment approach to organic search, and we are on target for our organic leads to exceed paid leads in the next quarter.

Read More: Q&A with Amanda Nelson, Senior Director, AppExchange Comms & Community at Salesforce


Eight million businesses have spent $150 billion on Google Ads this year, which is an indication of how successful – and competitive – the platform is for e-commerce companies.



M7: Consumers have rapidly shifted from stores to e-commerce portals in the past few months. How has this pushed the need for digital transformation within the marketing industry?
AD:
During the lockdown, there was a massive shift from the high street to e-commerce, for obvious reasons. In 2018, US e-commerce made up 14.3% of total retail sales, and 15.8% in 2019. In 2020, this leaped to 21.3% of all retail, and whilst the rate of growth in 2021 has slowed, the overall trend of online growth is continuing. We’ve seen the impact on some long-established brands and retailers who were too slow to recognize the need for digital transformation: US casualties included J.C. Penney, Sears and Toys R Us, and in the UK Debenhams, Jaeger and Arcadia Group brands Topshop, Dorothy Perkins, Burton and Miss Selfridge all shut up shop.

Post-lockdown, there are two main challenges for e-commerce marketers: how to compete profitably in the face of increasingly sophisticated competition; and - for retailers that also have physical stores - how to use digital to help drive in-store revenues. In this landscape, e-commerce marketers need to invest in digital skills, agile processes, and the latest technologies. That doesn’t mean blockbuster budgets: an agile approach will support rapid deployment and testing models while minimizing up-front risk. AI platforms are a key part of this equation as they accelerate the learning process exponentially, reduce staff and agency overheads. And the cost to deploy some marketing AI platforms is now well within the budgets of small and medium-size e-commerce companies.


M7: What is your advice to aspiring marketers, today, in a market that is going through constant digitalization?
AD:
I started in marketing at a time where you didn’t always need a specialist skill: a broad commercial experience was perceived to be equally valuable. Today, marketers are more like software developers in that the most valuable skills are the niche skills with the greatest scarcity. So my advice to aspiring marketers is to focus on building a specialist skillset that will make you highly valuable in markets that are growing rapidly. You can build a broader skillset if you want to, once you are established as an expert in your specific field.

Fast-growing technology and SaaS companies, for example, are likely to want to recruit marketers with deep expertise in how to use automated digital marketing software like HubSpot, or who have a deep understanding of how analytics can be used to improve advertising performance and conversion metrics. Similarly, increasing competition in technology and SAAS markets means that differentiation and messaging are becoming increasingly difficult. Having the skills to undertake rapid market research, or to develop agile creative functions will become increasingly valuable for companies wanting to stand out from the crowd.

ABOUT BIDNAMIC

Established in 2018, Bidnamic offers a software as a service marketing platform that helps brands and retailers outrank competitors on Google Shopping. Bidnamic uses machine learning to profile every single product to predict its optimal bid value, applying real-time performance analysis and high-frequency bid management. It increases ad spend efficiency, market share, revenue and advertising ROI and ROAS, and enables the full revenue potential of every product.

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FiscalNote Announces Strategic Commercial Partnership to Accelerate Company’s Global AI Co-pilot Program

FiscalNote | December 11, 2023

FiscalNote Holdings, Inc. ("FiscalNote"), a leading AI-driven provider of policy and global intelligence, today announced a commercial partnership with Era Global Technologies, LLC (“Era”), a technology-focused investment firm backed by leading, closely-held family enterprises. This marks continued support from an early-stage investor and strategic advisor to the Company who has been closely aligned with FiscalNote for over five years. Era’s dedicated value-creation platform, Era Catalyst, will be a foundational channel partner, providing distribution support for FiscalNote’s recently-announced AI Co-pilot program. Era will provide referral services into their extensive network to accelerate sales and introduce FiscalNote’s proprietary AI products in the legal and regulatory space to several of the world’s largest conglomerates. Through these referrals, FiscalNote will drive further AI innovation augmented by input from Era’s network of family-owned enterprises, including large European and Asia-based multinational chemical and consumer goods conglomerates which operate across 19 countries and 25 industries. The collaboration is expected to enable FiscalNote to accelerate its ongoing growth and expansion strategy, advance new product development, and optimize sales and marketing efforts. In connection with the agreement, Era’s investment vehicle, EGT–East, is investing $5.5 million in FiscalNote in the form of a convertible subordinated promissory note, with the potential for up to an additional $2.0 million. The strategic investment will, in part, fund further capital expenditures and development of FiscalNote’s next generation of AI Co-Pilot capabilities, inclusive of deployments into Era’s network of global companies. The terms of the promissory note are further described in FiscalNote’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 11, 2023. “We are delighted to have Era as a foundational partner in our mission to extend the power of AI-driven policy and global intelligence to businesses and organizations around the world,” said Josh Resnik, President and COO, FiscalNote. “This investment is a testament to the industry-leading and innovative nature of our technology and our potential to transform the way businesses operate by leveraging our longstanding pedigree and leadership in AI. We are especially excited that this investment will galvanize and accelerate our product development and go-to-market strategy for our AI Co-pilot program, which is positioned to revolutionize the legal, regulatory, and legislative domain. Our Co-pilot program marks yet another development in FiscalNote’s ongoing leadership as we innovate and bring to market more AI-enabled solutions aimed at the legal and regulatory sector, while providing incremental growth opportunities to complement our proven, durable base of recurring revenue solutions.” FiscalNote’s AI Co-pilots are new AI solutions customized for policy and risk management professionals to facilitate their day-to-day work such as key tasks related to legislation, advocacy, constituent communications, regulatory responses, and global risk analysis. FiscalNote’s Co-pilots will combine the power of large language models, FiscalNote’s trusted industry leading policy and geopolitical data, and customers’ data, all in a seamless workflow to provide intelligent assistance for the world’s most important decision makers. By deploying FiscalNote’s AI Co-pilots, customers will be able to automate tasks, improve decision-making, and increase productivity and efficiencies – driving value and results across the enterprise. About FiscalNote FiscalNote (NYSE: NOTE) is a leader in policy and global intelligence. By uniquely combining data, technology, and insights, FiscalNote empowers customers to manage political and business risk. Since 2013, FiscalNote has pioneered technology that delivers critical insights and the tools to turn them into action. Home to CQ, FrontierView, Oxford Analytica, VoterVoice, and many other industry-leading brands, FiscalNote serves approximately 5,000 customers worldwide with global offices in North America, Europe, Asia, and Australia. To learn more about FiscalNote and its family of brands, visit FiscalNote.com and follow @FiscalNote. About Era Global Technologies Founded by Jasper Lau, Era is a global investment firm backed by leading closely-held family enterprises across 19 countries and 25 industries. Era harnesses the collective knowledge, corporate intelligence, and strategic capital of the firm's families to build and back transformative, category-defining technology companies.

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