UK-based Greenlight releases Quant in US
UK-based search marketing agency Greenlight has released Quant, its pay-per-click advertising tool in the US.
According to the agency, Quant uses predictive model algorithms to help marketers better forecast the success of their paid search campaigns. The program draws upon portfolio management models developed on Wall Street, the company said.
The goal was to develop a system that could utilize historic data and a myriad of business intelligence from the marketplace and consumers, said Warren Cowan, CEO of Greenlight. That data could then be used to develop a predictive modeling capability used to determine the best way to bid and assign budgets across every possible keyword in a client's campaign, he added.
Greenlight first rolled out the program in the UK market, Cowan said. “We've been maturing our algorithms for almost a year now. From the moment we started putting it in place, we started to see a benefit,” he said.
Greenlight offers consulting, search engine optimization and pay-per-click advertising services as well as search engine marketing training. Its clients include American Express, Radisson Hotels & Resorts and Monarch Airlines. The London-based agency, which was founded in 2001, opened a New York office in 2007.
“The US market is different from the UK in terms of population and gross domestic product,” Cowan said. The amount of investment in search campaigns in the US compared to Europe is also much higher and local search is far more useful in the States, he added.
“If you look at the amount of investment in search campaigns within Europe and you look at the same amount invested in the US, a lot of US marketers will spend anywhere between five and 20 times as much on paid search,” Cowan said.
Consequently, US-based search marketers have to manage a lot more data, which makes managing paid search campaigns even more challenging to manage, he added.