Used car supermarket Motorpoint is using AI technology to generate video advertisements for used stock.
Motorpoint predicts it would have taken approximately two working days for its in-house design team to produce a vehicle-specific video for digital channels.
The AI functionality, provided by Phyron, allows Motorpoint’s paid media team to produce a similar style asset in minutes.
“We’ve been able to increase the volume of leads in some instances by up to 80%,” said Rosanna Hansford, head of paid media at Motorpoint.
“It’s also been interesting to see the impact Phyron ads have had on lead quality, we’ve noted traffic driven from some of the assets have been undertaking more valuable actions to us as a business that are more likely to result in a vehicle purchase,” she added.
The AI-driven approach is also said to have offered improvements in cost and efficiency. The cost-per-thousand impressions (CPM) has dropped by 30%.
“Our stock mix can change daily meaning that we need to be able to reprioritise what we’re advertising quickly.
“We’re able to strategically swap out vehicles quickly and have new ad creative ready to go in a matter of minutes.”
