Brokerage group IQ Option ran a large-scale campaign in Saudi Arabia last year, making use of Google AI and Veo 3.
The latter product is a generative AI tool that lets the user create videos via prompts.
According to a recent Google case study, the technology meant that IQ Option did not have to do any ‘real’ on-site video production. This saved the brokerage group about a month’s worth of production time and $180,000 in costs.
“VEO 3 production changed our market entry strategy,” said Vlad Pilat, Head of Performance Marketing at IQ Option. “What used to take months now takes weeks, costs less, and performs better. This is how we’ll scale localized campaigns moving forward.”
The case study also showed that IQ Option was able to increase its conversion rate by 25% and reduce its cost per acquisition figure by 25.4%.
Although lots of brokers have been using AI for creatives production, this is one of the first clear and overt signs that the technology actually works.
IQ Option continues to run large-scale ad campaigns in Saudi, with the brokerage group running almost 60 different creatives in the country over the last month.
