Bidbrain™, Speqta’s AI-based SaaS platform for bidding smarter on Google Shopping Ads, is still an ‘unknown’ quantity. Having only been recently released as an upgraded and more advanced version of their previous Shopello Bidbrain model, there’s still a lot that we marketers have yet to unpack when it comes to its capabilities!
This is why, to give us some insight into the inner workings of this smart SaaS solution, we’ve invited Bidbrain’s founder and CEO, Fredrik Lindros!
The interview below should shed some light on what Bidbrain is, and how you might be able to use it for your own online business in the future!
Why don’t we start with an introduction? Hello! Please introduce yourself to our readers!
Fredrik Lindros: Hello! My name is Fredrik Lindros, I’m the CEO of Speqta, which we developed as a company to focus on performance based marketing via innovation. I was born in 1976, and I graduated with a master’s degree in Finance and Marketing at the Stockholm School of Economics, but my passion lies in new technology.
How did you get your start in your industry?
Fredrik Lindros: I’ve always been personally driven by innovation and change. Building up businesses and supporting the growth of others, both of those things to me are fun and exciting, and I’ve made it my life’s work to do just that.
When it comes down to it, there are three trends that I am a firm believer in and supportive of.
- That technology has and will continue to change the way that we do business.
- That the direction of retail, marketing, and consumer behaviors are migrating towards online. And that, because of this, everything from this point on will be measurable and performance-based.
- And finally, that marketing should not be limited or capped, but instead, a percent of all sales, or profit, made should be used for pushing maximum and scalable growth.
These trends are what led me to the work that we do at Speqta. Our mission as a company is to continue helping e-retailers acquire customers online with unique media house collaborations and high-tech services like Bidbrain™.
Now, to get to the questions that people want to be answered. What exactly is Bidbrain™? Can you give us a quick rundown to start with?
Fredrik Lindros: For a quick rundown: Bidbrain™ is an AI solution for smart and advanced bidding on Google Shopping Ads. We developed it for online retailers that are looking to get familiar (or are familiar) with the auctions held on Google that decides which products get the best visibility under Google Search results.
Awesome! Now… How exactly does one use Bidbrain™?
Fredrik Lindros: To be able to answer this, I really should start with how Google Bidding works traditionally. There are two main schools of thoughts in that regard:
- Manual-based bidding for maximum control.
- And, automated bidding with Google’s smart bidding strategies.
The average retailer is often content to put their trust in the latter. Using Google’s free tools like Smart Shopping or Target-ROAS to manage their campaigns. But, those tools are just “good enough” and not always 100% driving the online store’s growth. To be more specific, if one were to analyze the type of bids made by Google’s Target-ROAS or Smart Shopping, you’ll find that they tend to go for unusually high CPC-bids—that result in very few conversions—and are word around 30-40 Euros each.
Bidbrain™ was developed to fill the gap left behind by Google’s black-box bidding methods. We made sure to provide our users with maximum control and full insights on where their bids are going. And, of course, we’ve also added other functionalities for optimization and growth acceleration.
How has Bidbrain™ improved since its first conception?
Fredrik Lindros: Bidbrain’s conception was all a matter of timing. We saw how much of a monopoly Google had in the market, and we wanted to offer an alternative that would be able to withstand the tough competition. Or, better yet, be smarter than its competition.
If we were to break down the core advantages of Bidbrain over other alternatives, it would be:
- Bidbrain™ guarantees a visible increase in sales at a lower CoS (Cost of Sales) percent or higher ROAS (Return on Ad Spend).
- Unlike Google’s black box bidding strategies, Bidbrain™ provides full insights and is transparent — to enable e-retailers to have maximum insight in their campaigns.
- Bidbrain™ was built with the latest granular-bidding AI technology and focuses purely on high converting traffic, promising performance that is a step beyond what is offered by anyone else in the market.
And finally, where do you see Bidbrain™ going in the future?
Fredrik Lindros: Just like most business owners, I have high hopes for Bidbrain’s future. As a company, our goal is to make sure that Bidbrain™ is recognized as a powerful tool for e-retailers that are looking to go beyond the ordinary. And, if, along the way, we just so happen to encourage businesses to be more tech-inclusive in the future? I’d consider that a job well done.
