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LITTLE ROCK, Ark., Feb. 24, 2021 (GLOBE NEWSWIRE) -- Inuvo, Inc. (NYSE American: INUV), a leading provider of marketing technology, powered by artificial intelligence (AI) that serves brands and agencies, today announces how the IntentKey AI technology expanded the customer base of a business-to-business electronic components company at scale, while also beating their customer acquisition (CPA) goal costs by 91%.
Inuvo’s client, an electronic components company, had been focused on growing their company by focusing on their existing customer base and through product expansion. When their strategy shifted towards targeting new customers, they initially turned to traditional digital tools, such as search, email marketing, social media, and some display to broadly target electrical engineers.
While they were happy with the results of these efforts, they were equally as excited to test new digital technologies that might help them reach their niche target audience of electrical component buyers, design engineers, maintenance professionals/plant managers, and contract manufacturers. For the test, the client established a CPA goal based on the results of previous digital campaigns and Inuvo delivered new sales leads at a cost that beat the CPA goal by 91%. Most astounding was that these results were realized during an extraordinary online retail environment due to COVID-19.
In addition to the outstanding performance, the client benefited strategically from the insights only the IntentKey can deliver about the various niche audiences their products serve. Campaign data revealed users with interests related to energy, chemical and petroleum, and other business services industries were most likely to convert. These audiences also tended to rely on research with feedback from websites like reddit.com, where specialty threads allowed them to connect with their peers and like-minded individuals in the industries which they work to get help solving problems and to make better purchasing decisions. Most interestingly, the audiences also associated strongly with hobby enthusiasts, demonstrating a propensity to consume vast amounts of online content centered around personal hobbies, with interests in woodworking, NASCAR, hunting, dirt biking, and motocross racing.
“The artificial intelligence that drives the IntentKey delivered a deep understanding of our client’s interests that made it possible to expand the reach of their campaign,” said Tristan Cameron, VP of Sales & Account Management. “Rather than simply marketing on industry-related sites that are noisy, filled with competitor ads, and of limited scale, we were able to find users across the web, anonymously at a time and place when they were less distracted and more receptive. This made it more affordable and enabled us to reach them when they showed the greatest signals of real-time intent.”
“We also learned throughout this process that while this was a very specific audience, the nature of our AI and the data produced by that AI once again provided the ability to achieve greater scale than had been experienced with other vendors,” said Cameron. “With the right data, we’ve been able to deliver results that far exceed our client’s expectations.”
The client has renewed the campaign going into 2021 and the IntentKey has continued to deliver consistent results. As the COVID vaccine rollout continues and the economy heads towards recovery, we look forward to what the IntentKey can learn as changing trends in business buyer behaviors emerge post-COVID.
About the IntentKeyTM
Inuvo®’s IntentKeyTM is a patented, machine-learning technology designed to mirror the manner in which the human brain instantly associates ideas, emotions, places, people, and objects. It creates an accurate, high-definition picture of consumer intent and sentiment related to a particular topic or item. Inuvo harnesses the power of the IntentKey to discover and reach high volumes of incremental in-market and relevant audiences that are hidden from typical marketing approaches. The IntentKey enables pinpoint media execution reaching consumers throughout the purchasing funnel all the way to conversion.
Inuvo®, Inc. (NYSE American: INUV) is a market leader in artificial intelligence, aligning and delivering consumer-oriented product & brand messaging strategies online based on powerful, anonymous and proprietary consumer intent data for agencies, advertisers and partners. To learn more, visit www.inuvo.com.
Safe Harbor / Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including, without limitation risks detailed from time to time in our filings with the Securities and Exchange Commission (the “SEC”), and represent our views only as of the date they are made and should not be relied upon as representing our views as of any subsequent date. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" in Inuvo, Inc.'s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and our other filings with the SEC. Additionally, forward looking statements are subject to certain risks, trends, and uncertainties including the continued impact of Covid-19 on Inuvo’s business and operations. Inuvo cannot provide assurances that the assumptions upon which these forward-looking statements are based will prove to have been correct. Should one of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements, and investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. Inuvo does not intend to update or revise any forward-looking statements made herein or any other forward-looking statements as a result of new information, future events or otherwise. Inuvo further expressly disclaims any written or oral statements made by a third party regarding the subject matter of this press release.
Inuvo Company Contact:
Chief Financial Officer
Tel (501) 205-8397
KCSA Strategic Communications
Valter Pinto, Managing Director
Tel (212) 896-1254