U.S. Media Planning Company wins FICO® Decisions Award for AI, Machine Learning & Optimization
FICO (NYSE: FICO)
Highlights:
- RSG Media is using FICO® Xpress Optimization for improved inventory use and savings in media planning and scheduling
- RSG Media has improved viewership conversions for its customers by 10 to 25 percent across sister channels and up to a 17 percent saving on inventory
- RSG Media can execute real-time campaign and conversion analysis for better adjustments
- RSG Media won a 2023 FICO® Decisions Award for AI, Machine Learning & Optimization
RSG Media, a global media tech company headquartered in New York, is achieving significant benefits for its customers from its new ML-AI driven media planning and scheduling platform called ‘Prophet.’ The platform has been designed to help media companies compete in today's fragmented and rapidly changing TV viewing landscape. The incorporation of FICO® Xpress Optimization creates more effective and efficient use of inventory, with a 10 to 25 percent lift in viewership conversions across sister channels by targeting the appropriate viewers and up to a 17 percent saving on inventory which can then be allocated to other promotional campaigns or given back to advertising to recognize ad dollars. The use of FICO Xpress Optimization also helps to dramatically speed up the media planning process with new promo plans generated in just 10 minutes instead of weeks.
The use of FICO Xpress Optimization in the Prophet platform allows TV marketers to take a more scientific and tactical approach to promote programming. With real-time tracking of mid-flight campaigns, businesses can make necessary adjustments in real-time to optimize results. This contrasts with general industry practice where existing promo placement is done exclusively on reach and frequency with no consideration given to efficacy or efficiency. Thanks to the RSG Audience Media Planning & Scheduling Optimization Platform (Prophet), businesses no longer have to wait for weeks to create promotional plans. Instead, the platform generates highly effective and efficient plans within minutes.
More information: https://www.fico.com/en/products/fico-xpress-optimization
Watch RSG Media talk about the project: https://youtu.be/m7bskI700RM
Scheduling Promos According to Audience Behavior
“The Prophet platform showcases how machine-learning and optimization like FICO Xpress Solver make it possible to increase the efficiency of reach and conversion through behavioral-based targeting,” said RSG Media President & GM, Mukesh Sehgal. “The secret is a new science of hyper-targeted campaign management that matches the right message with the right viewer on the right platform to get the right response.”
The platform uses behavioral-based targeting, placing potential viewers into affinity groups based on how likely a viewer is to be interested in a particular show. These affinity groups refer to a viewer’s propensity to view a show. Planners can then use a special index of these groups on the platform to find the right viewers on the right programs across sister and off-network channels.
“Marketers have long struggled to target viewers who fall within the right demographic but don't show a genuine interest in their product or service,” said Sehgal. “Thanks to the cutting-edge Prophet platform, this challenge is a thing of the past. Our behavioral approach allows us to analyze viewing habits and place potential viewers along a continuum of interest, from unlikely prospects to highly engaged customers. By prioritizing affinity groups over demographics, we can identify the right viewers for each campaign and increase the efficiency of each ad dollar spent.”
Planning and Adjusting Campaigns in Real-Time
In the past, planning and scheduling TV promos was done manually and took weeks to prepare. With the new Prophet platform, the entire process is automated and generates the most optimal inventory plan and promo scheduling within minutes.
Because the new tools track actual performance and can adjust promo placement, if a campaign is achieving all its goals ahead of schedule, it gives planners the option of freeing up promo spots for other uses. If a campaign is underperforming, managers can see why and adjust accordingly. This feedback loop and real-time analysis mean that managers have far more control.
“It’s the difference between trying to hit a target with a slingshot or with a laser-guided cruise missile digital platform,” added Sehgal. “With a full set of options, the marketers can treat their shows much as a traditional advertiser might, looking at the costs and effectiveness of each option.”
By utilizing FICO Xpress Solver, RSG Media's platform for promotional planning and scheduling optimization achieves optimal and efficient utilization of linear marketing inventories through the following means:
- Placement efficacy: Determining which shows and times are most effective to promote a specific show to a target viewership.
- Dynamic plan adjustment: Modifying plans on the fly to take advantage of opportunities and avoid pitfalls that the data illuminates.
- Cross-channel promotion planning: Extending calculations to take full advantage of a multi-network programmer’s entire promo inventory.
- Off-network promotion planning: Calculating the costs and benefits of promoting programs through other means.
- Optimize off-channel DMA (designated market area) buys: Through looking for more cost-efficient DMAs that would yield a greater ROI. There are 225 DMAs in the United States.
These efficiencies, adjustments, and capabilities result in additional advertising time and increased network revenues.
“With the rapid evolution of the media landscape, it's more important than ever for media companies to be agile and adaptive,” said Nikhil Behl, chief marketing officer at FICO. “Our optimization technology enables RSG Media's Prophet platform to make real-time adjustments to promo placement and scheduling, allowing their customers to stay ahead of the curve.”
For its achievements, RSG Media won a 2023 FICO® Decisions Award for AI, Machine Learning & Optimization.
“RSG Media’s Prophet platform has truly revolutionized media planning and scheduling, allowing for dynamic plan adjustment and cross-channel promotion planning,” said Michal Lodej, group editor at Shard Financial Media and one of the FICO Decisions Awards judges. “Their innovative use of ML-AI and FICO’s optimization solvers has been able to significantly increase reach and conversion rates, delivering optimal promo placement and scheduling for maximum revenue and profit.”
About RSG Media
RSG Media believes in using both art and science to deliver radical insights and deeper connections to drive the evolution of the media ecosystem. It drives clients’ revenue and profits through rights, audiences, and advertising across platforms using deep analytics, AI, enterprise systems, and expert advisory services. Its customers include TV Networks, MVPDs, Studios, VOD & OTT Services, and Brand Licensors.
RSG Rights: Enterprise rights management, strategically tailored to how each business group needs it.
RSG Audience: Radical ML-AI-driven insights to predict and grow audiences. The AI-driven platform brings together 50+ data sources to deliver the audience insights needed to grow a fan base.
RSG Media was founded in 1985 and is based in New York City with offices in Los Angeles, London, and Delhi/Gurgaon. For more information, visit https://www.rsgmedia.com/
About the FICO® Decisions Awards
The FICO Decisions Awards recognize organizations that are achieving remarkable success using FICO solutions. A panel of independent judges with deep industry expertise evaluates nominations based upon measurable improvement in key metrics; demonstrated use of best practices; project scale, depth and breadth; and innovative uses of technology. The 2023 judges are:
- Cortnie Abercrombie, CEO/Founder AI Truth
- Neeti Aggarwal, CFA senior research manager, The Asian Banker
- Douglas Blakey, editor, Retail Banker International
- Burcu Çalıcıoğlu, SVP of credit analytics and retail credit, Akbank (previous winner)
- Martin Elliott, general manager consumer lending, BNZ (previous winner)
- Mark Feeley, research and brand director, Chartis
- Michal Lodej, group editor, Shard Financial Media
- Andre Miceli, chief editor, MIT Technology Review Brazil
The winners of the FICO Decisions Awards will be spotlighted at and win tickets to FICO® World 2023, the Decisions Conference, May 2023 in Hollywood, Florida.
About FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, manufacturing, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in nearly 120 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of rental cars are in the right place at the right time.
Learn more at www.fico.com.
FICO is a registered trademark of Fair Isaac Corporation in the US and other countries.
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Contacts
Julie Huang
press@fico.com
+1 925-405-7803
