Colombian startup Data Gran uses AI to reduce digital marketing costs
Founded by Carlos Mendez, Data Gran still in beta. But it has already caught the attention of global corporations like Subway and Bic. And in doing so, it’s generated thousands of dollars in revenue.
The company recognizes the two big challenges marketing managers and startup CEOs face: creating new, interesting marketing strategies, and optimizing their marketing budgets. It’s a department that many companies focus heavily on.
To tackle marketing strategies, Data Gran’s Big Data Analysis engine asks businesses to upload their databases and select a specific industry. Afterwards, the platform’s predictive analysis software returns data on business trends such as association rules and clustering, among others. This streamlines companies’ process by providing them with information on trends within their industry, allowing them to analyze what other companies are doing, and find novel ways to stay ahead.
For optimization, clients can use the AdOptimizer to select their digital marketing objective and choose their preferred channel, such as Instagram, Facebook, or Google. Customers are only required to select their budget and campaign length. After, Data Gran will do the rest.
The platform claims to save businesses at least 20% in their digital marketing costs. Using fifty ads based on different combinations, Data Gran lets the ads run for three days and then analyses the data set to discover which ad model is predicted to have the lowest CPC (cost per click). From there, Data Gran uses this information to generate ads for clients that will cost them less in expenses.
In addition, it’s also supposed to save time, increase and accelerate revenue, decrease churn by 10% — and do so 100% transparently.
The concept of inbound marketing is prevalent in Latin America, with up to 60% of marketers claiming to engage in it. Currently, Data Gran has achieved monthly sales of around $120,000, and Mendez expects this to increase to up to $300,000 after the launch. Should this occur, it will bring the company’s total first-year revenue to $2 million.
Mendez and his team have also piqued the attention of venture capitalists; the company is backed by Telefonica SA, having taken part in its Wayra incubator, in addition to New York-based accelerator Quake Capital. Data Gran has also received endorsement for JPMorgan Chase & Co., which named the fledgling company as a high potential startup.
Currently conducting a Series B capital raise of $350,000 which will end in October, Data Gran has been valued at $5 million; another round of $1.5 million will take place the next month.
Nicolas Waddell14 Posts
Nic has spent time in Asia, Canada and Colombia watching people and wondering just what the heck they'd do without their phones; but only because he wonders the same of himself.