FreeWheel, a leading technology platform in the TV industry, has introduced the Performance Suite, now available within its demand-side platform, Beeswax. This new suite is designed to enhance campaign optimization and measurement specifically for connected TV (CTV) advertising, offering advertisers powerful tools to achieve their performance goals.
The Performance Suite features advanced, machine learning-based solutions that complement Beeswax’s existing customizable tools, providing buyers with more precise targeting, optimization, and measurement capabilities. Addressing challenges like signal loss and inaccurate targeting due to unstable identifiers like IP addresses, the Performance Suite leverages FreeWheel’s Identity Network to improve targeting accuracy through both deterministic and probabilistic identity resolution.
Mark McKee, General Manager at FreeWheel, highlighted the challenges and opportunities in CTV advertising, noting the difficulties in household-level targeting and measurement. He emphasized the importance of achieving measurable results and optimizing campaigns effectively, which the Performance Suite is designed to deliver.
Also Read: Basis Technologies Integrates with Ad Fontes & Cuebiq to Strengthen Ad Rank
Key features of the Performance Suite include:
- Enhanced CTV Performance: The suite enables precise audience targeting, broader reach, and more measurable conversions. The FreeWheel Identity Network facilitates household-level targeting and optimization by utilizing first-party IDs from FreeWheel’s premium publishers, buyers’ first-party data, and industry-leading identity graphs, all while maintaining a privacy-centric approach.
- Efficient Optimization: Advertisers can benefit from advanced machine learning models that are tailored to each campaign’s data, improving performance without the need for extensive custom work.
- Transparent Campaign Measurement: The suite offers a variety of measurement and reporting tools, including Ghost Bidding and incrementality reporting, to provide detailed insights into campaign performance.
One standout feature is the cost-per-acquisition (CPA) bidding strategy, which is customized for each buyer’s campaign goals. For example, FreeWheel’s partner, Optimal Media, utilized this strategy to drive a 40% increase in conversions while reducing CPA by 32% for a national automotive client.
Paula Thompson, Vice President of Client Strategy at Optimal Media, praised the partnership with FreeWheel, noting the significant improvements in campaign efficiency and effectiveness.
As the CTV landscape evolves, FreeWheel is committed to continually enhancing the Performance Suite, ensuring that advertisers can achieve stronger results and greater efficiency in their CTV campaigns.