Inuvo’s IntentKey Uncovers Changing Home Renovation Audience Behaviors in Midst of COVID-19 for National Home Improvement Retailer Client
LITTLE ROCK, Ark., Sept. 28, 2020 (GLOBE NEWSWIRE) — Inuvo, Inc. (NYSE American: INUV), a leading provider of marketing technology, powered by artificial intelligence (AI) that serves brands and agencies, today announces how the IntentKey artificial intelligence (AI) technology has built strong brand awareness with new audiences for a national home improvement retailer client by uncovering changing audience behaviors in the midst of COVID-19.
The pandemic has created a boom in home remodeling, as more time at home has changed the way people need their homes to function. Houzz reported a 58% increase in professional referrals for projects year-over-year. In a Porch.com survey, more than 75% of consumers said they plan to take on a new project within the next 12 months. CNBC coverage also boasts record high equity is giving homeowners the financial flexibility and confidence to reinvest in their homes as real estate prices increase amid record low interest rates.
IntentKey’s national home improvement retailer client was opening a new store in the Northeast and was looking for digital solutions to build brand awareness with both consumers and contractors, while also driving traffic to the new store.
The IntentKey AI technology was able to identify audience insights unavailable through conventional marketing technologies. The IntentKey easily identified the expected audience interests in home improvement concepts, such as renovation, bathroom remodeling, Pergo flooring, vanities, affordable tile, travertine, and the like. However, the IntentKey was also able to expose an unknown trend wherein audiences were demonstrating an interest in product within a 60, 90 and even 120-mile radius that were out of stock locally. This audience intent was manifested because the artificial intelligence technology behind the IntentKey was able to associate the general home renovation concepts with these unexpected concepts like “out of stock” and “low inventory levels,” which in turn suggested contractor and consumer were willing to inconvenience themselves in this COVID-19 environment so as to get their projects completed.
“This discovery contradicts the behaviors of the typical home renovation shopper / contractor who generally source supplies from local home improvement stores. COVID-19 has created an environment where people are working from home, vacations have been canceled, and normal activities outside home have diminished. Collectively, this has led to an increase in home renovation for functionality and enjoyment,” said Tristan Cameron, VP of Sales & Account Management. “The IntentKey AI identified this greater distance travel trend and used it to automatically increase the size of the audience receiving the marketing. This discovery highlights the adaptive power of the IntentKey’s real-time updates, which adjusts marketing audience size based on just-in-time insights.”
For this client, the IntentKey AI was able to define a strategy the home retailer could capitalize on wherein their traditional, more local audience targeting approach could be expanded to capture a greater footprint of in-market audiences willing to travel for items they had in stock.
About the IntentKeyTM
Inuvo®’s IntentKeyTM is a patented, machine-learning technology designed to mirror the manner in which the human brain instantly associates ideas, emotions, places, people, and objects. It creates an accurate, high-definition picture of consumer intent and sentiment related to a particular topic or item. Inuvo harnesses the power of the IntentKey to discover and reach high volumes of incremental in-market and relevant audiences that are hidden from typical marketing approaches. The IntentKey enables pinpoint media execution reaching consumers throughout the purchasing funnel all the way to conversion.
Inuvo®, Inc. (NYSE American: INUV) is a market leader in artificial intelligence, aligning and delivering consumer-oriented product & brand messaging strategies online based on powerful, anonymous and proprietary consumer intent data for agencies, advertisers and partners. To learn more, visit www.inuvo.com.
Safe Harbor / Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the proposed public offering and the intended use of proceeds from the offering. The offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including market conditions, risks associated with the cash requirements of our business and other risks detailed from time to time in our filings with the Securities and Exchange Commission, and represent our views only as of the date they are made and should not be relied upon as representing our views as of any subsequent date. We do not assume any obligation to update any forward-looking statements.
Inuvo Company Contact:
Chief Financial Officer
Tel (501) 205-8397
KCSA Strategic Communications
Valter Pinto, Managing Director
Tel (212) 896-1254