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Speqta launches Bidbrain as a SaaS
Speqta ("SPEQT") is now launching the first version of its groundbreaking AI offering - Software as a Service (SaaS). By using Bidbrain, e-retailers can grow by buying more of the traffic that actually leads to purchases. Bidbrain is a transparent and easy-to-use service, aimed at the large and global e-commerce market on Google Shopping Ads. The SaaS business model is attractive to both e-retailers and Speqta.
In November last year, Speqta launched a closed beta version of Bidbrain. The first open version is now being launched on bidbrain.com. Tests performed show very good results for e-retailers.
Bidbrain is an easy-to-use SaaS platform that acts as a plugin for Google Ads. With the use of their existing Google Ads ID, e-retailers can easily connect to the service via Bidbrain.com. Initially, the e-retailer receives a free AI analysis, where Bidbrain analyzes current bid patterns. When the bidding service is activated, the e-retailer selects the desired ROAS (Return On Ad Spend or return on advertising cost), for its advertising, and Bidbrain focuses on generating as much sales or as much profit as possible for the desired return. The unique AI engine is therefore powered by the same incentive as for the e-retailer: to maximize growth and conversions based on the desired ROAS.
Efficient and transparent bidding
Bidding takes place transparently within e-retailers' own Google Ads account, where Bidbrain initiates the AI-driven campaigns. Using Bidbrain, the merchant can grow in a cost-effective way, by buying more of the traffic that converts best. This is possible due to two components: Product Feed Optimization and the powerful bidding engine. In the first step, the product feed - such as content and titles - is optimized to match what consumers are looking for and buying. The second step is advanced AI bidding, where relevant parameters that affect sales - such as size, color, brand, campaign, consumer unit, etc. - are used to create advanced bidding clusters and simulations using the latest AI technology.
Attractive business model: SaaS
The SaaS model gives the e-retailer predictable costs through a fixed monthly fee and a percentage on advertising costs. For Speqta, this means monthly recurring revenues (fixed and variable MRR, Monthly Recurring Revenue) with a high gross margin. Previously, Speqta, then in the business segment AdTech, had only access to Shopello's business model, where Speqta bought traffic for the customer and invoiced a margin on the traffic cost, which thus meant a higher revenue but with a lower gross margin.
Bidbrain's CEO Malin Blomberg explains:
“Bidbrain offers e-retailers an advanced, and at the same time transparent service for Google Shopping ads, where each marketing investment is optimized to generate maximum sales, based on the desired ROAS. E-retailers no longer need to spend significant time on bidding administration, since Bidbrain's algorithm handles the job. I look forward to continuing the development of our fantastic offering in collaboration with our growing portfolio of customers.”
Speqta's CEO Fredrik Lindros:
“Future winners within e-commerce will be those who daily use structured data and AI. Bidbrain is an innovative AI-based offering, with an attractive business model, targeting a large global market for Google Shopping Ads and valued at just over BUSD 70. We see great opportunities for Bidbrain, although it will be some time before we get the large volumes and revenues that provide higher margins compared to the revenues from Shopello.”
For more information, please contact:
CEO Speqta AB (plc)
+46 723 10 66 66
Speqta offers the best performance-based leads generating platforms, using data and AI and shall grow both organically and through acquisitions, in new and existing markets. The company has two business areas, Speqta AdTech and Speqta Content & Comparison. The company is listed on Nasdaq First North Premier Growth Market, in Stockholm under the name “SPEQT”. The company's Certified Adviser is Västra Hamnen Corporate Finance AB, telephone number: +46 40 20 02 50 and e-mail: email@example.com.