AUDIENCEX announced today that it’s launching a new fund to accelerate innovation in the marketing technology space and encourage mid-market advertisers to try out the latest solutions. The advertising technology and marketing firm is committing $5 million to the fund, with $50,000 in free media and services going to each participant between now and the end of the year.
“Every day, more marketers are seeing how true AI can improve their performance, how contextual targeting better engages their ideal audiences in the moments that matter, and how dynamic creative optimization can drive meaningful conversions. Every day, tests are yielding insights, and we are seeing marketers evolve their marketing strategies accordingly. However, many marketers simply don’t have the time or resources to run the tests their campaigns deserve,” says Jason Wulfsohn, COO and co-chairman at AUDIENCEX.
Many mid-market advertisers have yet to explore the programmatic space, even though they are interested in elevating their digital strategies. Wulfsohn says the Marketing Amplification Fund was developed with these marketers in mind, offering a way to make sophisticated omnichannel campaign exploration more accessible for brands that are new to programmatic advertising.
Beginning today, mid-market advertisers interested in exploring enterprise-class marketing can sign up for the Marketing Amplification Fund to receive $50,000 in free media. Mid-market is typically defined as brands with $500 million or less in annual revenue, a group that has traditionally been underserved by ad tech providers.
“Historically, smaller brands haven’t had access to the same technology and services as the enterprises they seek to disrupt,” says AudienceX CEO Reeve Benaron. “The minimum spends typically required to access the top DSPs are simply out of reach for many marketers, and more simplistic platforms have lacked the AI-driven performance and sophistication to be competitive in an omnichannel environment.”
But minimum spend issues aren’t the only reason mid-market brands are shying away from the latest marketing technologies. A lack of understanding about which options are available is also an issue. According to new research, just 14% of brand advertisers strongly agree that they have a good understanding of programmatic advertising. Nearly half of advertisers (45%) say they aren’t confident that their organizations have the optimal media mix.
To that end, Wulfsohn says the Marketing Amplification Fund is designed to empower these marketers with capabilities and services to drive growth, so they can actively measure and sustain those gains over a long period of time. At AUDIENCEX, Wulfsohn and his team regularly work with brands to create multi-channel campaigns that embrace technology, content, and strategy. This new fund is about bringing new, smaller brands into the fold and addressing the lack of familiarity and lack of funding for untested initiates that often holds smaller organizations back.
“Ultimately, we want the Marketing Amplification Fund to give marketers the freedom to discover the cutting-edge strategies and tactics that will help them meaningfully engage their audiences at scale to drive significant return on ad spend,” Wulfsohn says. “By providing both financial and strategic support to these marketers, we aim to help democratize enterprise class ad-tech for the mid-market.”
Stephanie Miles is a senior editor at Street Fight.