AdGeekPro — Better facebook ads Targeting
Adgeek provides a platform for automating ads targeting. The company was founded after the four founders graduated from the Meltwater Entrepreneurial School of Technology in 2015. Previously called Cocktail Insights, AdgeekPro has had it’s fair share of pivots. The company used to be a data analytics company for store owners on Shopify. According to the founder, they recognised an under-served pain-point and decided to pivot. Now, they focuse on helping Shopify merchants obtain more customers using Facebook ads.
AdGeekPro has raised a seed round at an undisclosed amount from a few investors.
The power of Facebooks ads can not be overemphhasised. The service provides business owners with insights, targeting capabilities and data about potential customers.
AdGeeekPro utilises the Facebook ads tool kit to provide a custom stream of services for businesses. One of such is Retargeting — allows businesses to ‘retarget’ potential customers with your ads. 98% of online visitors leave or abandon their carts translating into loses for businesses. With Retargeting, AdGeekPro serves ads of the business to potential customers.
Another custom offering by AdGeekPro is Prospecting. Prospecting allows businesses to target audiences with online profiles similar to their existing customers. They do this by utilising a large data set of customer behaviour, intents and online profile.
Shelleen Shum, a senior forecasting analyst at eMarketer noted that Facebook and Google will once again emerge as the global leaders in digital advertising, scooping up almost half of worldwide digital ad money. This trend has been further enhanced by mobile and video advertising. Facebook will continue to dominate the digital ads space for a long time as it controls 19.7% of the U.S. digital ad market.
AdGeekPro will be looking to profit from the merchants who have seen value in advertising on the Facebook platform. Advertisers are seeing the need for digital platforms and are ramping up their digital budget. Advertisers’ spend on digital formats globally is set to increase by 17.4 percent to $583.91 billion. The space is huge, but so are the players. Startups who build off other platforms have been frowned on by investors however, AdGeekPro’s bet on Facebook is a worthy one
AdGeekPro faces competition from smartly.io. Smartly.io is a Finnish startup that has developed an automation and optimization tool for Facebook and Instagram marketing. Smartly has raised $2.78M from Lifeline Ventures a Finnish based VC fund.
While AdGeekPro allows for automated Facebook ads targeting, it also allows their clients to outsource their online marketing and social media management to the AdGeekPro team.
AdGeekPro which is in it’s beta period is offering it’s services for free, Smartly charges a fixed percentage of it’s client’s Facebook spend
The biggest challenge I see for AdGeekPro is the trove of established and funded platform in their space.
For AdgeekPro to grow to it’s full potentials, the following things should be proven -
Will/Can AdgeekPro expand beyond serving Shopify merchants to merchants across other platforms?
Can Adgeek retain it’s free tier customers when it starts monetizing?
In conclusion, I believe this team took a bold step in pivoting to AdGeekPro. They have created a suitable niche for themselves by focusing on serving Shopify merchants. Aspace they are well verse before their pivot. I am bullish on the Facebook ecosystem hence, bullish on any platform that is positioned to profit from Facebook’s upside.