Digital advertising technology company, Magnetic has received a patent for its search retargeting technology.
The United States Patent and Trademark Office issued US Patent No: 8,990,105 for Systems, Methods, and Media for Targeting Advertisements based on User Search Information.
This patent covers Magnetic’s programmatic solution for retargeting advertisements based on keywords, enabling advertisers to reach audiences with digital display advertising based on search intent.
The rise of real time buying (RTB) has been a key driver in the dramatic growth of programmatic advertising; ad spend is predicted to reach £46 billion globally within three years, and programmatic buying in the UK is expected to surpass £3.2 billion by 2018.
A large number of advertisers rely on site-level data for real-time retargeting because it helps them reach audiences that have shown intent through site visitation. However, by using keyword data to find and reach audiences, marketers can engage consumers early on, even before they visit an advertiser’s website, thus providing an effective solution for prospecting.
“Magnetic was one of the first companies to foresee the potential of intent data and build innovative capabilities like data curation and intender profiles,” said James Green, CEO of Magnetic. “We’ve spent years building programmatic buying methods that allow marketers to make the most efficient and effective use of search intent for digital display advertising. Our patented technology is a testament to our innovative and talented team and strength of our data and media platform.”
In addition to its patented search retargeting technology, Magnetic supports site retargeting, which when used in unison, creates an opportunity for full funnel retargeting that leverages intent for prospecting and retention. Magnetic also recently added mobile capabilities for effective cross-channel advertising and acquired dynamic creative company, Cognitive Match, in June 2014.
“The patent is a great affirmation of our work. It also supports our innovative approach, as we bring our pioneering search retargeting technology to market in Europe,” added Luke Hayter, VP Europe of Magnetic.