Your Weekly Pencil - October 27, 2021

October 27, 2021

Pencil featured in Facebook IQ's "Hello Future" series "How AI Will Elevate The Future Of Creativity" - Read more here

  • A new generation of AI tools is opening up rich worlds of imagination and collaboration for people and business
  • “AI augments human capabilities; it doesn’t replace them. AI expands our thinking and gives us new ways of being creative” says Devi Parikh, Facebook AI Research Director
  • Drawing on personal, social and cultural experiences, marketing departments or agencies often churn out many variations of digital ads ... Companies like Pencil, however, use AI algorithms to help generate dozens of iterations of these ideas in just a few minutes
  • Marketers are starting to see results of this creative collaboration with AI. One recent study found that businesses using AI creativity tools for video ad creation saw an average two times increase in return on advertising spend (ROAS) over campaigns without AI creative support and up to 7x for some campaigns in the study

Small experiments lead to big results. Read our very own Chase Mohseni's latest blog post about how changing only the copy line in your ad creative can double CTRs and halve CPCs. We dogfooded this on our own ads too! - See the test results here

  • Testing copy can strengthen your relationship with your customers by pitching your business in multiple ways and seeing what they respond to
  • Sometimes, a simple copy test can reveal deep insights about your business and customers
  • We dogfooded this, ran a test, and took away a few key insights. First, we were able to double CTRs and more than halve CPCs by talking about AI ad generation as a tool to create competitive advantage, a "secret weapon", rather than a tool everyone uses. Second, we were again able to double CTRs and halve CPCs by talking less about AI predictions and more about learning to improve.

Something interesting from the Financial Times "Apple's privacy changes create windfall for its own advertising business" - Read more here


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