Price Genius: An Automatic Price Optimization System for Online Publishers
We are delighted to announce that, after many months of testing, we have launched Price Genius, an automatic Price Optimization system for online Publishers. Price Genius is a ready-to-use system, having been tested with industry-leading Publishers such as Wyborcza.pl, where it has generated double-digit uplifts that are easy to measure.
We also have other reasons to celebrate, as our Price Optimization Software has just been nominated for the AdExchanger Awards 2020 in the category of Best Programmatic Consulting Or Advisory Firm; and for The Drum Digital Advertising Awards Europe 2020 in the category of Sell-side Innovation.
We are inviting our Publisher partners, and indeed our prospective Publisher partners, to increase their revenue via optimal pricing and a reduction in the time that publishing teams spend on UPR management.
Here we would also like to share our answers to frequent Publisher questions related to Price Genius and Price Optimization.
Why Price Genius?
We have made 3 assumptions:
– we believe that an Open Internet financed by good and non-obtrusive advertising is important for society,
– price is an important revenue driver on any market,
– information about Ad Price for the Open Market is transparent for Buyers but not Publishers, who have a limited understanding of market transaction prices and price-building factors.
Based on these assumptions we saw that there was a space for automated price management. By making more inventory optimally-priced, we can increase revenue for Publishers, reduce the cost of manual-price management, and make more inventory available for buyers.
We are proud of the fact that we have managed to achieve an optimal balance between the seller, buyer, and reader!
How does Price Optimization work?
Revenue Optimization ensures inventory is neither over-priced nor under-priced. If you keep prices too low, buyers will understand that there is no need to bid high, and they will reduce their offers. This process is known in the industry as bid-shading. Contrarily, having prices too high leaves a lot of inventory unsold because too many buyers simply can’t afford to meet the price criteria.
At Yieldbird we have built a great R&D team of scientists, pricing experts, experienced AdOps and data analysts which endeavours to effectively manage the price for digital advertising. We have invested resources into understanding the role of Price for the Open Market auction, the nature of bid shading and those aspects which drive value in the eyes of buyers. Our research took into consideration the perspectives of the buyer (DSP) and seller (SSP) in order to come up with the best possible conclusions. On establishing how to set up an optimal price, and when to change the price, we asked our Development Team to automate all the operations. As a result, we can provide Publishers with dynamic pricing for online ads that is functional, logical, and optimal for both long- and short-term revenue.
So – can you improve my earning by 10% , 30%, 60% ,100%… or multiples of these returns?
We do not believe that the notion of “give me your inventory and we will improve your revenue by X%” is a credible proposition – we are not that type of company. For sure, we can provide you with effective pricing that works 24/7. We have also developed a system that can calculate and monitor the effects of our work. But results depend also on the parameters of your inventory and on the effectiveness of your previous prices. Indeed, the system’s effectiveness can be seen on the screen below.
As an example of how a clothing marketplace improved its Programmatic RPM by up to 45% with Price Genius. This publisher, that helps over 25 million users around the world to sell, buy, and swap clothes, was looking for a new approach to Price Management on the open auction level after Google’s shift to First Price Auction model. They wanted not only to automate the process but also to increase revenue and measure the efficacy of those actions.
The Price Management & Performance Optimization of non-guaranteed demand sources in Google Ad Manager, using methodology developed by Yieldbird’s Data Science team, allowed the Publisher in question to improve the yield within 2 weeks, and then to precisely measure the uplift generated by the Price Genius optimization. All of this was able to happen without either slowing down the page or putting additional scripts into the website code.
Publishers Solutions
In Yieldbird, we are aware of the importance of transparency and control over advertising revenue, and that’s why we have developed Price Genius.
Price Genius is a machine-learning solution for Unified Pricing Rules management, which maximizes revenue and protects inventory from bid-shading devaluation, whilst saving you time and resources. It constantly monitors the most important price-affecting variables, and automatically adjusts the rates to the optimal level in a fully automated way.
CEO & Co-Founder
