SEATTLE, Sept. 10, 2024 (GLOBE NEWSWIRE) -- New Engen, a leading digital marketing agency, announced the development of a proprietary way to access Meta’s Bid Multiplier tool, designed to increase bids on segments with high customer lifetime value. The agency brought the innovative offering to market in June of this year, using Meta’s Bid Multiplier API to build it. The new solution introduces an optimization lever for higher-performing demographics – including location, device, and select first-party customer data attributes.
Meta recently announced the broader rollout of Conversion Value Rules, which will act similarly to the Bid Multiplier. New Engen clients have an opportunity to test segment-specific bidding rules well ahead of this rollout and get a jumpstart on performance improvements. Furthermore, they will have an opportunity to tap into New Engen’s proprietary analysis process and library of testing insights from over 20 brands.
“Our vision and ability to access Meta's API in this way has allowed us to create a solution that significantly improves campaign performance,” said Justin Hayashi, CEO of New Engen. “Clients testing this tool have seen substantial increases in incremental return on ad spend (ROAS), decreases in cost per acquisition (CPA), and higher average order values (AOV) within the first 30 days.”
Key Results from Early Tests:
- By increasing bid aggressiveness on desktop placements where higher AOV purchases occurred, an outdoor apparel client saw a 12% higher ROAS, 12% lower CPA, and 13% more revenue.
- A premium running brand identified 14 high-value geographies across the U.S., resulting in a 12% higher ROAS, 12% higher revenue, and a 10% decrease in CPA after applying the Bid Multiplier.
- A luxury beauty brand targeting a younger demographic achieved 99% stronger ROAS, 123% higher revenue, and a 54% increase in AOV.
New Engen recently became the digital marketing agency of record for both Cotopaxi and SNIPES. In 2023, the agency acquired LT Partners, an industry-leading partner marketing agency.
About New Engen:
New Engen is a digital marketing agency driving impact for brands across every phase of the customer journey – maximizing it, measuring it, and repeating it. With a passion for building brands, a drive to challenge the status quo, and deep digital expertise across hundreds of brands and verticals, New Engen keeps its clients at the cutting edge of digital marketing. Managing around $1B in annual ad spend, New Engen has received numerous accolades, including the 2022 Google Premier Partner of the Year Award for driving online sales, and is an Inc. 5000 Fastest Growing Company. Recent acquisitions include Acorn Influence and LT Partners, enhancing the agency’s influencer and partner marketing capabilities. Learn more at [www.newengen.com].
Media Contacts:
Alyssa Gay
For New Engen
agay@newengen.com
