At MGID, we strive to further enhance our AI technologies in our continued efforts to elevate and improve the client experience. As part of this effort, MGID has teamed up with Memorable AI to bring you a new AI-powered tool for predicting ad performance. This follows the recent launch of MGID’s AI image generator, a self-service tool for creating AI-generated images in the MGID Ads dashboard. Our latest feature makes it easier to analyze how tech-assisted ads perform, helping you determine which ad versions to use and what impact copy and headlines can have on your results.
Read on to learn more about this feature!
What is the Performance Prediction Feature?
The performance prediction feature, available in the MGID Ads dashboard, is an AI model that predicts the impact of creatives. This model estimates how effective a creative can be based on its campaign settings and advertising design.
Benefits of Ad Performance Prediction
Ad performance prediction is a game-changer, offering valuable insights into the effectiveness of your ad creatives and how even minor tweaks can impact their performance within the MGID network. Here's a quick rundown of the benefits.
- Improved decision-making: Predictive analytics help you make more informed decisions about which ad variants to use, maximizing the effectiveness of your campaigns.
- Enhanced efficiency: By knowing which ads are likely to perform best, you save time and resources on testing multiple variants.
- Increased ROI: Optimizing ad performance leads to better returns on your advertising investment, as more effective ads drive higher engagement and conversions.
- Targeted adjustments: Understand how changes to ad copy and headlines impact performance, allowing you to make precise adjustments that boost results.
- Competitive advantage: Leveraging advanced AI tools keeps you ahead of the competition, as you can quickly adapt to market trends and consumer preferences.
Ad Performance Prediction Categories
As already mentioned, we developed this predictive model in cooperation with our partner, Memorable AI. Predictions fall into four categories and include short messages to help clients understand their creative’s potential impact and next steps.
- Poor: "Try something else. This ad won't deliver results unless you switch up the image or headline."
- Medium: "Why not give it a shot? This ad's performance falls within the average range."
- Good: "Good to go! This ad will deliver great results."
- Excellent: "Green light for launching! This ad's performance will be outstanding."
How to Use the Performance Prediction Feature
When you fill in the title and image fields in the ad creative form on the MGID Ads dashboard, the performance prediction feature automatically appears. Here’s all you need to know about it.
Location in the Dashboard
The performance prediction function is located on the right-hand side of the screen, under the preview section. Additionally, a prediction indicator is displayed for each creative thumbnail in the far left panel.
Automatic Updates
When you edit the title and/or image, the prediction is automatically updated to reflect the new content.
Troubleshooting
If you encounter issues with the performance prediction functionality, follow these simple steps before contacting the Support Team:
- Try to reload the page.
- Delete and re-upload the image.
- Make sure that your Internet connection is stable.
FAQ
Does this mean that the prediction will be the same for all my advertising campaigns?
No, the prediction is based on the ad campaign settings. For different targeting settings, predictions may vary for the same creative.
Does this mean that creatives that received good and excellent predictions will definitely be approved by Moderation?
No, creatives can be rejected by the Moderation Team regardless of the creative’s performance prediction.
Does this mean that the prediction received today will be the same in 6 months?
No, since the advertising environment is quite dynamic, the model will be constantly updated, taking into account new data in the system. The validity of the forecast can be considered for up to 30 days.
Conclusion
The performance prediction feature is an invaluable tool for optimizing your ad campaigns. By leveraging AI-driven insights, you can make informed decisions about your creatives, save time and resources and ultimately achieve better results.
Stay ahead of the curve with MGID's AI-powered performance prediction — your key to smarter, more effective advertising.
