Refuel4 has launched Spark, a new artificial intelligence-guided advertising product that helps small and medium-sized enterprises (SMEs) with the problem of ad fatigue.
The press statement from Refuel4 said that SMEs represent over 95% of global commerce. However they are underserved as they do not meet the minimum ad spend required by many agencies and platform providers.
According to a recent study by Deloitte, every dollar spent by SME advertisers has eight times the equivalent impact on growth as the same amount spent by their larger counterparts. However, the same study found that they are far less likely to invest in advertising than larger firms.
The new product will allow SMEs to tap into a talent pool of 10,000 multi-media designers across the globe contributing to ad creative on Facebook and Instagram to optimise performance.
The launch follows the success of Refuel4’s corporate offering, a product tailored to enterprise clients such as Spotify, Glu Mobile and PayPal.
Spark uses the brand’s artificial intelligence engine, Shaka, which automatically analyses the performance of previous ad creative and adjusting it on the fly to maximise results. Meanwhile, Refuel4’s global designers take care of all the creatives.
“Refuel4 makes it so much easier to get ad creatives,” Julia Mak, director of marketing, Instamotor, said. She added that Instamotor has seen its overall campaign performance increase by 30%, media spend reduced by 10%, and a rise in time saved in a month.
“The creative process is one of the biggest inhibitors to SMEs investing more digital media dollars. They are unsure how to get value from advertising agencies and may not have the experience or time to invest in digital advertising. Refuel4 wants to arm SMEs with the power of data driven creative that our larger clients already enjoy,” Kazuhiro Takiguchi, CEO and founder of Refuel4 said.