NEW YORK, NY--(Marketwired - Oct 17, 2016) - Programmatic advertising company Varick Media Management announced today an update to Alveo, its proprietary campaign management platform. The update included the addition of a suite of algorithms to Varick's machine learning engine, RECO. RECO was launched earlier this year providing Varick an additional layer of machine based optimizations along with human trading to drive further efficiency in trading operations. Varick's update to RECO now offers clients additional flexible algorithms and a dedicated team to successfully optimize campaigns across different strategies.
RECO's original launch included prospecting and recency algorithms housed within Alveo, Varick's proprietary campaign management platform. The prospecting algorithm, PROBE, is used to identify inventory pockets that lower the cost per acquisition while still achieving scale. The recency algorithm, PATH, analyzes the path and timing of a conversion for the optimal moment to serve an ad. Shortly after launching, Varick's team of traders identified a slew of trends and campaign types that RECO worked especially well for and began working closer with DSP partners in order to create additional algorithms to strengthen the existing product. RECO's most recent update includes:
- IGNITE which analyzes CTR performance and average bid price for the last seven days down to a placement level, blacklisting low CTR's and automating the bid request based on client goals
- SHIELD which ranks viewability on a placement level to blacklist ad slots and domains with low viewability rates and determines the optimal bid price to balance viewability goals with efficient vCPMs
These two new algorithms run on data aggregated from the past seven days, ensuring Varick does not blacklist sites or placements that had low performance six months ago, but have since improved. Using fresh performance data ensures that automated optimizations are not made based on expired trends.
"We saw great success with our clients and the original algorithms that were launched with RECO. However, we knew there was potential to do more with the product so we've focused on forming closer integrations with existing DSP partners to engineer additional algorithms to drive better performance for our clients," explained Sandie Milberg, CRO at Varick. "At the end of the day machine learning is necessary and improves campaign performance but ultimately, it's our traders who are gathering insights and identifying the need for additional optimizations and trends. By including a level of human analysis into the mix, Varick is able to bring new optimization levers into the fold without sacrificing performance or scale for our clients."
About Varick Media Management
Varick Media Management is a programmatic advertising company servicing brands and agencies with proprietary campaign management software, Alveo. This platform enables marketers to build data-driven creative assets, buy across multiple inventory and data sources, and measure campaign performance through a single interface. Varick's service rests on three pillars for programmatic success: a world-class technology platform, transparency into all aspects of campaign deployment and optimization, and a full-service trading practice that leverages data science to drive campaign results.