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LITTLE ROCK, Ark., Feb. 24, 2021 (GLOBE NEWSWIRE) – Inuvo, Inc. (NYSE American: INUV), a leading provider of artificial intelligence (AI) marketing technology that serves brands and agencies, today announced the IntentKey AI technology expanded a business-to-business electronic component customer base at a large scale while exceeding target customer acquisition cost (CPA) by 91%.
Inuvo’s customer, an electronic components company, had been focused on growing their business by focusing on their existing customer base and expanding the product. When their strategy shifted to targeting new customers, they first turned to traditional digital tools like search, email marketing, social media, and some displays to target electrical engineers in general.
While satisfied with the results of these efforts, they were equally excited to test new digital technologies that could help them reach their niche target audience of electrical component buyers, designers, maintenance professionals / plant managers, and contract manufacturers. For the test, the client set a CPA goal based on the results of previous digital campaigns and Inuvo delivered new sales leads at a cost that exceeded the CPA goal by 91%. Most amazingly, these results were achieved in an exceptional online retail environment due to COVID-19.
In addition to the outstanding performance, the customer benefited strategically from the insights that only the IntentKey can provide about the various niche groups that its products serve. Campaign data showed that users with interests related to energy, chemicals, and petroleum, as well as other business services industries, were most likely to convert. These audiences also typically relied on research with feedback from sites like reddit.com, where they could use specialized threads to connect with colleagues and like-minded people in the industries they work in to help resolve issues and make better buying decisions. Most interestingly, the audience has also been heavily associated with hobby enthusiasts. This shows the propensity to consume large amounts of online content that is focused on personal hobbies and interested in woodworking, NASCAR, hunting, dirt biking, and motocross racing.
“The artificial intelligence that powers the IntentKey provided a deep understanding of our customers’ interests that made it possible to expand the reach of their campaign,” said Tristan Cameron, VP Sales & Account Management. “Rather than just marketing on industry-related websites that are noisy, filled with competitor ads, and of limited size, we were able to find users anonymously on the Internet at a time and place where they were less distracted and more receptive. This made it more affordable and allowed us to reach them when they were showing the greatest signals of real-time intent. “
“We also learned during this process that the nature of our AI and the data generated by that AI, although this was a very specific audience, again provided the opportunity to reach a larger scale than was the case with other providers” said Cameron. “With the right data, we were able to deliver results that far exceeded our customers’ expectations.”
The customer renewed the campaign through 2021 and the IntentKey continued to deliver consistent results. As the COVID vaccine rollout continues and the economy moves toward a recovery, we look forward to what the IntentKey can learn as business shoppers behave differently after COVID.
About the IntentKeyTM Inuvo®’s IntentKeyTM is a patented machine learning technology that mirrors the way the human brain instantly connects ideas, emotions, places, people and objects. It creates an accurate, high-resolution picture of consumer intent and sentiment regarding a specific topic or subject matter. Inuvo uses the power of the IntentKey to discover and reach a high volume of incremental in-market and relevant target groups that are hidden from typical marketing approaches. The IntentKey enables precise media execution that reaches consumers across the entire shopping funnel through to conversion.
About InuvoInuvo®, Inc. (NYSE American: INUV) is the leader in artificial intelligence, aligning and delivering consumer-centric product and branded messaging strategies online based on powerful, anonymous and proprietary consumer intent data to agencies, advertisers and partners. Further information is available at www.inuvo.com.
Safe Harbor / Forward-Looking StatementsThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, including, without limitation, risks from time to time in our filings with the Securities and Exchange Commission (the “SEC”) and represent our views only as of the date of their publication and should not be relied upon as representing our views at any later date. You are urged to carefully review and consider warnings and other information, including the statements under the heading “Risk Factors” in Inuvo, Inc.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and our other filings at the SEC. In addition, forward-looking statements are subject to certain risks, trends and uncertainties, including the continuing impact of Covid-19 on Inuvo’s business and operations. Inuvo cannot guarantee that the assumptions on which these forward-looking statements are based will prove to be correct. Should any of these risks materialize, or should any of the underlying assumptions prove incorrect, actual results could differ materially from those expressed or implied in any forward-looking statements and investors are cautioned not to place undue reliance on these current forward-looking statements only from this date. Inuvo does not intend to update or revise any forward-looking statements or other forward-looking statements as a result of new information, future events or for any other reason. Inuvo also expressly rejects any written or oral statements by third parties on the subject of this press release.
Inuvo company contact: Wally Ruiz CFO Tel. (501) 205-8397 wallace.ruiz@inuvo.com
Investor Relations: KCSA Strategic CommunicationsValter Pinto, General Manager Tel (212) 896-1254Valter@KCSA.com
Source: Inuvo Inc.