Travel Republic And Criteo Play The Dangerous Game Of Trading Impressions For Conversions
by Chris Swanicke
A more selective optimization engine has removed some of the guesswork that goes in to campaigns, Pritchard said, meaning less work for his marketing team. “Because we were getting a better cost per acquisition, (we could) increase our activity further and drive incremental business.”
Criteo said it spent more than three years developing the enhancements to its engine, which now handles much more data to “no longer predict the likelihood of a click, but predict a likelihood of a conversion,” according to Jonathan Wolf, Criteo’s chief product officer.
Criteo claimed an average 38% increase in sales for customers already using the new engine – a sample size that includes billions of impressions and millions of clicks.
The retargeting company went public in October, and reported strong Q1 2014 revenue growth to $211.6 million, a year-over-year increase of 60%. The company said then that growth in mobile contributed to the increase, with 15% of revenue coming from mobile.
The new Criteo Engine was made available all customers this week.