Wickfire has been once again recognized for technological innovation in the Performance Marketing Awards. This year, Wickfire has been shortlisted as one of six finalists in the Best Use of Machine Learning and AI category. Wickfire’s bidding optimization system, which was specifically recognized for this award, has allowed it to generate over 20% more volume in sales for every dollar it spent on search engine advertising.
“Wickfire’s bidding optimization system is the most sophisticated automation technology available in the industry,” said Chet Hall, Wickfire’s Co-Founder and Chief Executive Officer. “We’ve endeavoured to build an industry-leading system that pushes the boundaries of data analysis and automated decision-making. We trust our business to this technology and are incredibly satisfied with the performance boost our clients have seen as a result of this new system.”
Combining machine learning with human design and adjustments, Wickfire’s bidding optimization leveraged data on more than a quarter billion dollars of referred sales to adjust bidding incrementally to target higher-performing keywords and make smarter, quicker adjustments based on historic performance.
Wickfire’s bidding optimization system is unparalleled in the industry. Prior to redesigning its bidding optimization system, Wickfire tested multiple publicly available “smart bidding” strategies promoted by third parties. They all underperformed against Wickfire’s own optimization system. From that starting point, Wickfire was able to notably improve its proprietary bidding optimization system using machine learning. By focusing solely on improvements for its proprietary system and not on third-party optimization programs, Wickfire was able to generate a large profitable output for its clients.
Since 2007, the Performance Marketing Awards has recognized digital marketing companies a platform for their innovations within the performance marketing arena. The Performance Marketing Awards will be announcing 28 winners in categories ranging from Best B2B Campaign to Best App Install Campaign. Wickfire is among household names from around the world such as Groupon, Buzzfeed, and more, celebrating the best and brightest performance marketing companies.
The Performance Marketing Awards will be announcing award winners on April 30, 2019, at the Grosvenor House Hotel in London. Winners are judged based on specially crafted category templates and criteria criticized by an exclusive PMA panel. This is Wickfire’s third consecutive year being shortlisted for an award at the PMAs.