Listen to this articleBelow is our recent interview with Gustav Westman, CEO at BrightBid:
Q: What is your company story?
A: I started BrightBid in 2020 in Sweden in the middle of the pandemic. Our goal was to create a winning solution for Google Ad campaigns using our knowledge of AI and human expertise. BrightBid is an AdTech company that creates more refined Google Ads recommendations for businesses. After our launch in Sweden we now have a presence in Norway and, most recently, London. Starting a company in the middle of a pandemic with all the uncertainty at that time, may have been seen as incredibly unwise but we saw an amazing opportunity to create value. This proved correct as advertiser investment into Google search has skyrocketed over the last 2 years, up 67%, as people shopped online more. In just two years, we have recorded close to 400% year-on-year revenue and achieved over 500,000 conversions for our 400 customers.
Q: Any highlights on your recent announcement?
A: Being accepted into the Forbes Technology Council is a great honour and recognises the importance of the Swedish tech industry to drive innovation and new ideas on the global stage. I will be able to share my knowledge with the industry and have access to a host of exclusive opportunities designed to propel me further as a leader.
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Q: Can you give us more insights into your offering?
A: BrightBid uses an Artificial Intelligence engine that works perfectly with Google’s automation and first-party data to find the best performing keywords (or Search terms, in simple terms) and enhance bidding adjustments. Our technology can optimise over 500,000 a week, trying different combinations of bids, audiences and devices to get the winning formula, far exceeding the scope of manual optimisation. This helps to generate more revenue, leads and customers for our clients.
Q: What can we expect from your company in the next 6 months? What are your plans?
A: We’re well in the top 10% of fastest growing SaaS companies in the world, there’s no stopping us. We are rapidly growing and are formally launching in the UK this week. With the launch in London (the second largest market for Google Ads spend), we are strategically positioned to service our ever growing British clients which include the UK’s leading answering service MoneyPenny and Clarity Stack, one of the UK’s fastest growing sales intelligence platforms and another B2B SaaS scale-up like us. We have also raised £2 million in a seed round which will be used to further develop our AI platform, expand the marketing team and invest in the London office.
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Q: What is the best thing about your company that people might not know about?
A: We have designed our AI solution to help customers with the most complex needs win on Google. These customers have complicated conversion journeys such as B2B marketing teams, with leads funnelled through to sales teams or smaller budgets. These issues create fewer data points for Google’s automation to optimise on and so the addition of our AI on top of Google’s creates incredible results for our customers. Having developed our AI to help the most complex cases means it works incredibly well for larger PPC spenders and B2C advertisers too.
We also work with only one advertiser in any audience auction as we’ve found our AI is so powerful that it can create competitive bidding situations if two of our customers compete. This means that any BrightBid customer has a powerful competitive advantage in search against generic automated bidding approaches. This, coupled with our extensive use of smart search experts to train the AI model during customer onboarding means we’re the best in the industry and our customers can attest to this as they’ve seen at least a 20% increase in conversions on average but we often far exceed that benchmark..
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