Last week, here at Modo25, we launched our new SaaS platform, BOSCO™, with a webinar entitled ‘Are you spending too much money with Google?’ Watch the full webinar below.
The online landscape has always been a fiercely competitive one. Now, with a global pandemic, that has never been more true. Even at the best of times, it’s difficult to know where to ‘gamble’ your next pound to maximise your paid media. This is where BOSCO™ can help.
What is the BOSCO™ platform and what can it do?
BOSCO™, The Digital Marketing Prediction Index, has been developed to eliminate risks when it comes to spending your marketing budget and ensures businesses are aligned around new growth opportunities.
BOSCO™ enables retailers to:
- Index their online performance against competitors
- Plan where to invest budgets for maximum efficiency
- Predict where new sales opportunities lie
- Profit with certainty from online media spend
- Connect their actual data for the bespoke dashboard
The BOSCO™ technology is the creation of a team of leading eCommerce practitioners, global digital marketing specialists. Plus, Modo25 has some of the most experienced data scientists in the world. With their knowledge and experience, retailers can use BOSCO™ to make more money from their digital marketing.
Why we built the BOSCO™ platform
In the launch webinar, our CEO & Founder, John Readman, explained why we built BOSCO™ and the problems surrounding budget and media planning that inspired the platform, saying, “I believe that there is too much data when it comes to digital marketing and it’s understanding which data is important to help you make better decisions, and ultimately make more money.”
Deciding where to put your paid media budget can often feel like a roulette wheel. It is a gamble as to whether or not you will see the best returns. In fact, 25% of marketing spend is wasted on digital tactics alone. With the help of BOSCO™, you can spend your money more effectively to eliminate these risks.
There’s no denying that as online ad costs increase, digital marketing becomes more difficult. With Google’s monopoly over the ad market, retailers are bound to their rules and formats. Google looks out for number one and always comes out on top. With that in mind, as a marketing professional, do you think your investment in Google is really worth the money?
The BOSCO™ platform combats this problem by making sure businesses are aware of new growth opportunities and channels. For example, Amazon, where 47% of product searches start for consumers.
The data science behind BOSCO™
Dr James McKeone, Our Principal Data Scientist, explained the methodology behind BOSCO™ in the launch webinar, saying, “The cutting edge of data science in 2020 is reinforcement learning and BOSCO™ is a prime example of this. If you think about a slot machine, you can put a pound and lose and then try another ten and win five. This represents the different marketing channels and sums up reinforcement learning, which is the process of trial and error to come up with a solution to the problem.”
BOSCO™ is able to do this by using basic data including your domain, optimisation target, budget, AOV and category. BOSCO™ uses this data and collects external data from trusted partners to provide a list of competitors based on your category. Machine learning then creates a list of keywords for the tool to use when making budget recommendations.
The future of BOSCO™ and continued development
We continue to work and improve the BOSCO™ platform. Since the launch, we’ve already introduced a new feature on the platform. This new feature can help you calculate your maximum budget potential. BOSCO™ does this by identifying the maximum spend within your target constraint and how much that spend will deliver.
You can try BOSCO™ for free, now. If you’re interested in becoming a partner, get in touch with our team at firstname.lastname@example.org. If your business is a niche industry, send us an email so we can add your category to the platform.