Chris Vanderhook: And I was just going to say that, if a customer has — typically what they do is they go on the platform, they put in their budget. If you’re getting 35% lower CPMs, that means you get more ad impressions. More ad impressions is more reach. You’re making your influencing consumers, therefore, that turns into more customers and the campaign performance has, therefore, increased. That’s why we talk so much around price. It’s — it might be — it depends on who it is, but it may be the largest determiner of campaign performance is the price that you pay. Easy example, if you pay a $10 CPM versus a $5 CPM, the $10 CPM price has to perform twice the rate of the $5. So campaign — CPM pricing is so important to performance.
When we hit the performance level versus other platforms they may be using, it helps us win share of dollars. So it’s just the circular effect that, although, as Tim said is early, we’re really excited about it and we expect the adoption to steadily increase throughout the end of the year.
Chris Kuntarich: Got it. And as we think about this kind of ramping, I understand from the adoption side, maybe just from the upside to that 35%? Are we kind of — are we going to be having a conversation around 40%, 50% kind of lower CPMs this time for 3Q earnings or is it kind of 35% and it’s held pretty steady in your early findings.
Chris Vanderhook: Yeah. 35% is the average. So we saw as high as high 40%s, high double-digit 40%s. And so on some advertising campaigns, it all depends on what they’re doing. We also saw further increases on top of our own prior bid optimization using machine learning. So there’s many benchmarks. Some customers use a third-party AI algorithm to try and predict bids and we were able to beat those as well too. So I think that’s the value of when all these products are integrated into the DSP, not various third parties doing it. But it’s a range and it’s also arranged by channel as well, CTV, display, online video, there’s a wide disparity of pricing out there on CPMs and what it’s worth. So the ability for us to come in and apply a consistent algorithm across every channel format on behalf of the trader and make sure it’s working on their behalf.
One big important thing is, a human can only check a campaign so many times, but a deep learning model can actually check it all of the time consistently and make more changes than a human. So man versus machine. Machines always going to be able to perform those tasks more consistently, more often, which drives huge savings.
Tim Vanderhook: And I think what we’re seeing, I want to just — and I shared this on our last earnings — our last earnings call. When we talk about Direct Access, so it’s something that’s different, what — when you combine it to, really, what we’re seeing is, what we’re finding is not that publishers are getting lower CPMs interestingly. They’re getting higher CPMs because what we see is that the win rate in the auction, actually, our win rate goes up. So what we’re identifying is in the middle, we’re finding that there are multiple intermediaries that really are getting squeezed. So when you combine our efforts on Direct Access and then our AI Bid Optimizer, we’re finding true market price. That’s what clients, that’s really what we’re getting to.
And that is always changing. Clearly, right, one quarter to the next market may be stronger, certain publishers may be selling out, so maybe pricing increases from one quarter to the next. But in the end, clients want to make sure they’re getting a fair shake and we’re making sure that they’re getting that.
Chris Kuntarich: Got it. Thanks for the color.
Tim Vanderhook: Perfect.
Operator: That concludes our questions portion.
Tim Vanderhook: Great. Well, I’d like to thank everyone for joining the earnings call. I want to thank the Viant team for an incredible execution in the second quarter and we will see you all at an Innovation Day later this year and at our next earnings call. Thanks for joining.
Operator: Thank you everyone for joining us today. This now concludes today’s webinar. You may now disconnect. Have a great day.
