By: Press Release | Pricing Engine
New York, NY, March 15, 2013 – Pricing Engine, www.pricingengine.com, today announced the launch of an easy-to-use but powerful platform for online advertising that levels the playing field for small business owners looking to significantly improve the performance of their ad dollars. The Pricing Engine platform is available now for optimizing multichannel search marketing campaigns, with tools for display media, social media advertising and e-commerce coming later this year.
Pricing Engine was founded by CEO Jeremy Kagan, formerly a Vice President with the Global Digital Business of Sony Music Entertainment, and Vice President of Strategy at digital agency Publicis Modem, and Chief Technology Officer Yagmur Coker, former Lead Technologist for The Knot. Kagan, also a long-time adjunct professor of digital marketing at Columbia Business School, recognized the need for a simple tool for the smaller advertiser after years of consulting and agency work with clients of all sizes.
“The vast majority of small business owners are either too busy running their operations to effectively manage their online advertising campaigns, or can’t afford optimization platforms used by the Fortune 500 – or both,” said Kagan. “Because of this, we saw a clear need in the marketplace for a solution that allows small businesses to improve their ad performance in a simple, efficient and unified manner. Pricing Engine gives small business owners a decided edge in terms of their ability to get more sales and leads through digital advertising.”
Pricing Engine is a game-changer for small business owners lacking the time, resources or expertise to improve their search marketing and digital advertising performance. It uses patent-pending, data-based algorithms and predictive analytics to provide recommendations in plain English – not ad tech jargon – on what works, what doesn’t and how to improve.
Pricing Engine’s benchmarks are based on anonymous data crowd-sourced from peer businesses via advertising channels like Google and Microsoft. It compares a business’s ad performance against peers based on a number of user-selected parameters such as type of business, industry, geography and advertising budget. Pricing Engine provides a letter grade of performance in key areas, as well as recommended improvements – including use of keywords and ad copy – and critically, the estimated dollar value of an improvement in terms of sales or leads. Diagnostic tools designed for different business types ensure common mistakes are quickly identified and fixed.
Pricing Engine employs machine learning to refine and improve results. The system gets “smarter” over time based on the volume of data available, and on campaign performance across the various combinations of selection criteria.
During its beta period, the company has signed up hundreds of small business owners who have used the system and suggested enhancements. To accelerate the process, Pricing Engine is working with resellers in a number of industries to reach small businesses. To date it has signed reseller partners with access to more than 500,000 U.S. small business owners and will be rolling out the system with its partners across the country in the coming months.
Now Pricing Engine is being released to the general public, with a powerful yet simple dashboard that allows users to both create and manage search campaigns simultaneously across Google, Yahoo and Bing. Campaigns can be created once and deployed everywhere with changes to improve performance pushed out to all channels at the same time – making management easy and fast.
Over the next few months, enhancements will be added to the Pricing Engine platform for display advertising (Google Display and LiveIntent, among other channels), social media marketing (Facebook, LinkedIn, and others) and e-commerce (Amazon Product Ads and Google Shopping, among other channels).
About Pricing Engine
Pricing Engine is the first solution that provides small business owners access to a single, easy-to-use platform that lets them optimize their investment in online advertising across various channels without being digital media experts or expending resources they don’t have. Its “report card” feature assigns a letter grade on ad performance, based on benchmarking using variables like geography, type of business and budget, and tells users in plain English how they can improve their results. Pricing Engine’s patent-pending, powerful algorithm-based predictive analytics continually refine and improve ad performance. Now available to optimize search advertising campaigns for small businesses, the platform will soon be expanded to include tools for improving display advertising, social media marketing and e-commerce results as well. For more information, visit www.pricingengine.com