It was all about you spending more with them, and we had little purview into how our Facebook campaigns were doing compared with Google or other platforms. I got into a lot of the Google, Facebook, Snap and even TikTok betas as they were developing their automation for things like Universal App Campaigns, and as a beta partner I learned a lot about how they were building their machine learning capabilities to optimize the data they were getting from us.īut I came to realize that a lot of the benefit they were seeing came from a self-serving algorithm. It’s just a matter of having the AI to automate the triggers for when to buy and when to sell. In my case, the return is return on ad spend or the cost to acquire a customer. We both spend a budget and try to invest with a return. LOMIT PATEL: I began studying the finance industry and the big brokerage houses and realized that the way they do what they do is similar to what I do in UA. “It was a good time to spend and get users in,” Patel said, “and a good time to look at increasing our footprint outside of the US.”ĪdExchanger caught up with Patel to talk about how IMVU is using automation to keep growth humming during COVID-19.ĪdExchanger: How did you get started with automating your UA? Which is why IMVU pulled a large portion of the budget it had earmarked for the second half of the year into Q2 when pricing was still low.
“We’re going to see special interest groups flood the social networks as a way to influence voters, and that will lead to a natural increase in costs on Google and Facebook.” “In most cases, marketing budgets are use it or lose it, so I see a big flood coming in Q4, not to mention the upcoming US presidential election,” he said. More recently, when COVID-19 hit and advertisers started pausing their ad budgets, Patel started thinking about Q4. Three years ago, that meant introducing a high level of marketing automation into IMVU’s user acquisition (UA) efforts and focusing more on IMVU’s mobile app than its desktop presence. “Whether things are going well or not, you have to focus on predictability in driving customers and revenue.” “I never only think about the moment, I think 12 to 18 months out,” said Patel, who joined IMVU in late 2016. Growth marketing, he said, is as much about expansion as it is about mitigating risk. Lomit Patel, VP of growth at IMVU, a 3D avatar-based social networking universe, was already planning for an economic downturn in 2017.
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