Pencil offers new AI-driven ad creation service to help small businesses

Pencil, a creative AI company, is offering a new service that gives small businesses and startups access to the same “Machine Generated Creative” (MGC) platform that larger brands like Sephora, L'Oréal, and Unilever already use to systematically improve Return on Advertising Spend (ROAS).  

Pencil is one of the first companies to launch a commercial tool using OpenAI’s GPT-3 to generate human-like text that, combined with Pencil’s AI, enables MGC to generate entirely new narratives around a brand or product, according to the vendor.  

“Cash-strapped businesses with limited creative resources and ad budgets face long odds competing for consumer mindshare against larger, more established brands,” explained Will Hanschell, co-founder and CEO of Pencil.? “Pencil evens the odds with?Machine Generated Creative?that enables?marketers?to take existing copy, imagery and video assets?and automatically generate?batches of video ads?that?learn?to perform week-on-week.”?

Depending upon the size of the brand portfolio and the volume of ads organizations need to produce, Pencil now offers three plan to suit digital advertisers’ needs including:

• The new Generate plan creates copy and video ad ideas for startups and small businesses to test 10 ads a month for a single brand. Additional ads are available on a pay-as-you go basis for $25 per ad. This comes with a free 7-day trial.
• The Generate + Learn plan includes a patented machine learning loop that predicts outcomes and optimizes performance for up to 50 ads per month for a single brand. Additional ads are available for $15 per ad.
• The Enterprise plan provides custom pricing, integrations and features for large agencies and creative teams, with volume-based per-ad and per-workspace pricing.

In Q1, Pencil analyzed more than 100 campaigns that used MGC video ads and found the best MGC ads delivered an average ROAS of 2x other ads the brands were running. One brand’s MGC campaign delivered 11x higher ROAS. Pencil users have already generated over 15 million ads and on average Pencil ads perform 17 percent better than non-Pencil ads.

Based on its proven performance, the company was recently accepted into Facebook Marketing Partners, a program that connects businesses to an ecosystem of specialists. 

For more information about this news, visit www.trypencil.com.