About the platform?
Sokrati PersonaAds is an advertising and analytics platform that marries user psychographics, creative analytics and product merchandising to reduce advertisers’ experimentation costs by upto 80%. It brings the science of offline shopping to online advertising by enabling the advertiser to focus on how different online shoppers respond to different variables such as messages, products, brands and prices. This, coupled with statistical techniques, such as Design of Experiments, helps the advertiser experiment across all of these variables at a fraction of the cost. PersonaAds automatically identifies relevant and custom audience personas for the advertisers’ business, generates ads based on product SKU level feeds, and identifies the kind of creative elements that drive maximum ROI.
Who founded the product?
At Sokrati, we are passionate about creating next generation ad technology and analytic products. Backed by a solid software development and technology team, we sincerely believe that every problem can be solved, while the team has fun doing it. It is this culture that, together with talented engineering and business teams, created this product.
What platforms does it cover?
The product has currently been launched for Facebook web and mobile ads and is extensible to discover and target personas on display, social, video and mobile advertising channels.
Features of the tool
The platform provides a list of hundreds of in-built personas for a range of product categories and industry verticals. It also gives you the option to build your own customized persona. It comes with an auto-detect feature for Facebook where the platform can discover personas from the advertiser’s existing account. Here are some other features of the platform:
Ad component tagging: Allows you to tag individual ad elements like ad creative, tagline, brand, price, etc, and group them together.
Ad factory: Builds hundreds of ads automatically by combining different permutations of ad components based on the tagging.
Creative analytics: Scores different ad component variables like ad headline, ad copy, image, color, etc. based on its performance history.
Targeted decisions: Allows you to pause ads, thereby increases or decreases spends right at the persona-level, product-level, brand-level and even on an individual ad component-level. So, for example, if you think an ad image isn’t performing as well as you had hoped it would, you could pause all the ads containing it or decrease your bids for those ads.
Design of Experiments: Utilizes a statistical technique to experiment with the performance of various ad variables for a particular persona at a fraction of the cost.
Reporting: Provides a persona-centric reporting structure that can help you understand how a campaign is performing with respect to a particular audience persona. It also allows you to pivot your reports by brand, product or ad-group.
What analytics support does the tool provide?
The platform uses creative analytics techniques to find out why one ad performs better than the other. It does so by tagging and scoring individual ad components like taglines, ad copy, ad image etc. based on their performance with respect to a particular audience persona.
The creative analytics feature can also be linked to track your offline conversions. That is, in case your business involves closing a sale through a call-center, the platform can help you track which ad (or even which ad component) has brought you the lead which your call-center finally converted.
Does it give an option to download reports?
Yes, it does.
What kind of sentiment analysis does it perform and how accurate is it?
Instead of focusing on sentiment analysis based on the buzz on the Internet, Sokrati personaAds focuses on the analytics around the type of messaging that is working for your target personas. That way your decisions are focused on what your target audience thinks and feels rather than what the world thinks.
What are the brands/agencies that are using this tool?
The platform is currently under a closed-door beta program.
Pricing and packages of the tool
The platform is currently available on a managed service model with pricing based on either performance or ad spends.
What are the future plans for the product?
Sokrati is building towards its vision of democratizing ad technology and analytics. We plan to extend the persona and creative analytics approach of personaAds to different online ad platforms including display, video, mobile, and other social services.
A brief intro/info about the team behind the product
We are a team of five individuals. You can find the bios of the leadership team here.
Are you hiring?
At Sokrati we’re always looking for the best and the brightest minds. Here, you can rub your shoulders with some of the most brilliant minds in the industry and find an open culture that allows you the freedom to not only voice your ideas but take them to fruition.