by Colin Kirkland
Source: www.mediapost.com, July 2024
Originally introduced in October of last year, LinkedIn’s AI campaign tool has received positive feedback and is now rolling out to all advertisers across the globe.
“Accelerate” automates the campaign creation process, promising targeted end-to-end campaign and optimization recommendations within five minutes.
Accelerate invites advertisers to provide a URL for the product they wish to create a promotion around and then uses artificial intelligence to analyze the URL, their company’s LinkedIn page and their account’s previous LinkedIn ads to recommend a fully fledged campaign.
By processing customer data, LinkedIn says it will build creative and an audience, giving advertisers the ability to manually adjust copy and images while introducing inclusions and exclusion to refine the campaign’s targeting parameters.
LinkedIn’s AI models also use advertiser information to try and automatically adjust bids and shift budget to ideally performing placements and creatives.
Upon testing in 2023, according to the business-to-business social network, Accelerate’s automated placement feature delivered a 47% improvement in cost-per-conversion and improved cost-per-lead by 21% via the predictive audiences feature
In June, the company reported that advertisers were creating campaigns with Accelerate 15% more efficiently and driving a 52% cost-per-action compared to classic campaigns.
Because of the positive results advertising partners saw in the tool’s initial testing rounds, the company is adding new automated functionality. With Accelerate, advertisers can now draft prompt-driven images with Microsoft Designer and gain insights from LinkedIn’s new AI marketing assistant.
Overall, LinkedIn is following an automation precedent set by other tech giants in the social media landscape, such as Meta’s ongoing expansion of its Advantage+ ad tools, and Pinterest’s testing of its Performance+ tools, which it hopes to bring to market soon. These are just a few examples.
According to recent estimates by WPP’s GroupM, two-thirds of all ad buys are currently “AI-enabled” and will account for 94.1% of all ad spending by 2029, which includes all media, both digital and analog.
In addition, Wall Street equities researcher Dan Salmon estimates that Google’s “AI Overview” ads alone will generate $1.7 billion for Google next year and will rise to $16.9 billion in 2027, making up 6.5% of the company’s total ad revenue.
LinkedIn says that Accelerate campaigns will become available to all advertisers globally in the coming months.
