The Creative AI company backed by Sequoia India’s Surge program, announces today the availability of a new service which provides small businesses and startups with access to the same “Machine Generated Creative” (MGC) platform as larger brands, for the first time, to level the playing field.
Pencil’s new Generate service for eCommerce startups, small online retailers and direct-to-consumer brands (DTC) is designed to help small businesses struggling to compete in an increasingly online world dominated by larger brands’ slick video ads and optimized ad spend. Pencil learns from historic ad performance to generate new video ads that help brands systematically improve Return on Advertising Spend (ROAS).
Creative design and advertising optimization have never been more important. Facebook has more than 10 million advertisers, most of which are small businesses; in April it announced an astounding 46 percent increase in revenue versus a year ago, attributed to a 30 percent increase in the average price per ad, and a 12 percent increase in the number of ads displayed. This means that brands have to work harder, and pay more, to get great results from their ads.
Andy Hayes, Founder and Creator, Plum Deluxe, commented: “Managing a tea community and DTC business during the pandemic has been tough. We needed our Facebook ads to work, and we needed an edge. At first, we didn’t really believe AI or GPT-3 could be used to make effective ads, but Pencil has helped us crack the creative code. MGC is working for us, and the more we use it, the better it gets.”