Icelandair Drives 10x ROI improvement and 70% Reduction in Cost Per Booking in Digital Media with Scibids AI and Brainlabs

Scibids, the global leader in artificial intelligence for digital marketing, announces a collaboration with Icelandair and its digital media agency, Brainlabs. By leveraging Scibids’ customizable AI, Brainlabs has achieved exceptional results for Icelandair’s programmatic ad campaigns. With a focus on maximizing online flight bookings at the lowest possible cost to Icelandair, as a result of this successful partnership with Scibids, Icelandair has experienced marked improvements in campaign performance.

“The results were incredibly fruitful for Icelandair, with Scibids AI and Brainlabs securing a 70% decrease in cost per flight booking over the past year,” saidJóhann Benediktsson, Digital Marketing Manager, Icelandair. “This level of efficiency represents a 10x ROI for the brand compared to the benchmark price of applying artificial intelligence ourselves. We’re proud to work with tech-forward partners like Brainlabs and Scibids.”

“We are delighted with the impact of the inclusion of Scibids AI technology has had on Icelandair’s campaign performance, where we have secured a 70% decrease in cost per flight booking over the past year,” said Anjlee Majmudar, VP Programmatic, Brainlabs North America. “It’s especially rewarding to work alongside a client like Icelandair who are keen to embrace new programmatic AI-infused technologies to ensure that their brand continues to outperform the competition”

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Brainlabs conducted a comprehensive test utilizing Scibids AI across 11 markets. The objective was to assess the impact of the AI on Icelandair’s digital ad efficiency. The test proved to be a resounding success, prompting the application of Scibids technology across all programmatic spend.

Through the use of the Custom Bidding product in Google Display & Video 360, Scibids was seamlessly integrated into Icelandair’s DSP seat. Custom Bidding empowers advertisers and their agencies to customize the bidding algorithm so that it aligns more closely with the desired business outcomes. This solution provides advertisers with more precise control over ad decisioning and price valuation of each impression opportunity.

The primary goal was to identify the combinations of media signals that maximize the probability of conversions, ultimately driving online flight bookings. Scibids AI regularly updated custom bidding models to ensure a high frequency of optimization, adapting its strategies to new market signals continuously.

“Scibids AI’s ability to analyze millions of variables and adapt bidding strategies in real time has provided Icelandair with a competitive edge in the digital advertising landscape,” said Eric Schwartz, MD of North America, Scibids. “We are excited to continue supporting them in achieving their business outcomes.”

SOURCE : BusinessWire