The writing is on the wall for advertising (well, it is with this algorithm)
I thought that creativity was going to be the last bastion of the ad business – apparently not …
from Techcrunch. . . “Sometime today you’re going to read a marketing message that was probably written by Persado‘s software — and if you haven’t, Goldman Sachs has led a $30 million investment into the company to make sure you will soon.
Persado has developed software that can write what co-founder Assaf Baciu calls “cognitive content”, which he says is copywriting primed to get readers to engage.
“We’ve run 4,000 campaigns and our average uplift on conversion rates is 49.5%,” Baciu boasted. That includes all types of messaging, from up-selling, to cross-selling, to (I’m assuming) just selling.
Baciu and his co-founder Alex Vratskides began working on the idea that would become Persado five years ago, and the two men spun out the business from Upstream Systems in 2012.
Initially backed by Bain Capital Ventures, Persado has gone on to raise additional funding from the European investment firm StarVest Partners, and the venture arms of banking and credit card giants Citi Ventures and American Express Ventures. . . more. . .