Executive Summary
Answer engines like OpenAI’s ChatGPT, Google’s AI Mode and Google Gemini, and Anthropic’s Claude are changing how buyers discover, evaluate, and commit to brands.1 To remain salient, marketers must ensure their brands are visible and favored in AI-generated answers. Understanding the dynamics of answer engine optimization (AEO) — also known as generative engine optimization (GEO) or AI search optimization (AISO) — and its implications across marketing functions is a top CMO priority.2
Bluefish helps enterprise marketing teams monitor, optimize, and measure how their brands appear in answer-engine results. The platform’s end-to-end AI marketing tools provide insights into brand visibility, sentiment, and cited sources, along with actionable optimization tools to improve full-funnel outcomes.
Bluefish commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study and examine the potential return on investment (ROI) enterprises may realize by deploying Bluefish.3 The purpose of this study is to provide readers with a framework to evaluate the potential financial impact of Bluefish on their organizations.
To better understand the benefits, costs, and risks associated with this investment, Forrester interviewed six decision-makers with experience using Bluefish. For the purposes of this study, Forrester aggregated the interviewees’ experiences and combined the results into a single composite organization, which is a $35 billion dollar organization with a portfolio of 20 brands.
Some interviewees said that prior to using Bluefish, their brands’ marketing teams experimented with manual prompt testing to understand how their brands appeared in AI-generated answers. Other interviewees said their brands had no prior experience with AI marketing or AEO best practices. Despite these differences, each interviewee said their brand recognized the need to respond to heightening executive pressure to adopt AI marketing strategies and keep pace with buyers’ changing behaviors. They also stressed the importance of training and upskilling their marketing teams to maximize the impact and value of these new capabilities.
With the investment in Bluefish, the brands gained the ability to monitor, optimize, and measure their AI marketing performance. Interviewees said Bluefish provided prioritized, actionable recommendations to improve content and site health, enabling marketing teams to focus on the highest-impact optimizations. This led to improvements in AI visibility and favorability, which increased brand presence and trust within AI-generated responses. The adoption of AEO techniques also drove greater cross-functional collaboration and an evolution of their overall content strategy.
Key Findings
Quantified projected benefits. Three-year, risk-adjusted present value (PV) quantified benefits for the composite organization include:
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Marketing team productivity. With Bluefish, the composite’s marketing team gains a platform to manage its AEO strategy. The platform provides consumer and market insights that highlight brand visibility, favorability, and influence across answer engines. By identifying which optimization actions are likely to have the greatest impact, Bluefish reduces the time spent on manual analysis, guesswork, and low-value content creation. Over three years, this is worth between $119,000 and $306,000 in labor savings for the composite.
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Performance lift. Through brand audits and continuous monitoring, Bluefish helps the composite identify and execute optimization activities that are likely to have the most impact. The composite gains a clearer understanding of which sources AI cites and what consumers learn about its brand, ultimately improving AI visibility and favorability scores. The improved presence and trust contribute to an increase in brand revenue attributed to answer engines. Over three years, this is worth between $9.2 million and $15.5 million of incremental profit.
Unquantified benefits. Benefits that provide value for the composite organization but are not quantified for this study include:
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Cross-functional alignment. Bluefish surfaces brand insights that inform strategy for the composite organization’s content marketers, brand marketers, digital, search, paid media, commerce, PR, and social media professionals. This enables stronger collaboration across marketing functions by bringing the teams together around a shared set of insights and priorities.
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Change management support. Bluefish helps the composite answer critical questions such as where the AEO function reside and which skills and roles are needed. Ongoing guidance supports decision-making as AI marketing influences team structures and system integration.
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Reduced brand risk. Bluefish helps the composite’s teams proactively identify and address negative or misleading brand sentiment before it impacts customer perception and revenue.
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Marketing-team skill development. Bluefish acts as a strategic partner for the composite, helping its marketing teams build AEO knowledge and capabilities through ongoing guidance.
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Content strategy evolution. Investment in AEO practices leads the composite to invest more deeply in and consider how to optimize offsite content and earned media.
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Traditional SEO enhancement. By focusing on content optimization, the composite notes secondary benefits to traditional SEO performance.
Costs. Three-year, risk-adjusted PV costs for the composite organization include:
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Bluefish fees. The composite pays a platform fee to Bluefish to monitor five of its brands in Year 1, 10 in Year 2, and 20 in Year 3. All brands receive a brand audit. The composite also pays for professional services that support ongoing monitoring, optimization, and measurement efforts. Over the three year investment period, this costs the composite $2.8 million in fees.
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Implementation costs. The composite works with Bluefish to align on which brands to monitor, to set up target audiences and topics, and identify which KPIs to measure. This requires 140 hours of effort from professionals across SEO/AEO, brand marketing, customer experience, and information security. This effort costs $11,000 in labor.
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Ongoing optimization costs. The composite continues to add brands and configure additional audiences to Bluefish after initial implementation. It also adds new users across the marketing team to use the platform’s insights and optimization capabilities. Over three years, this effort costs $95,000 in labor.
Forrester modeled a range of projected low-, medium-, and high-impact outcomes based on evaluated risk. This financial analysis projects that the composite organization accrues the following three-year net present value (NPV) for each scenario by enabling Bluefish:
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Projected high impact of a $13 million NPV and projected ROI of 446%.
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Projected medium impact of a $9.7 million NPV and projected ROI of 335%.
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Projected low impact of a $6.4 million NPV and projected ROI of 220%.
Key Statistics
220% - 446%
Projected return on investment (PROI)
$9.3M - $15.8M
Projected benefits PV
$6.4M - $12.9M
Projected net present value (PNPV)
$2.9M
Total costs
Three-Year Projected Financial Analysis For The Composite Organization
The Bluefish Customer Journey
Drivers leading to the Bluefish investment
Interviews
| Role | Industry | Region | Revenue | Employees |
|---|---|---|---|---|
| Director of SEO | Personal care | Global (HQ: Europe) | $51B | 90,000 |
| Associate director of generative and agentic AI | CPG | Global (HQ: US) | $7.1B | 76,000 |
| Senior director of search capabilities | Pharmaceuticals | Global (HQ: US) | $20B | 43,000 |
| Director of GEO | Insurance | Global (HQ: Canada) | $20B | 32,000 |
| Agentic commerce strategist | Health and beauty | United States | $12B | 65,000 |
| Global head of search | Travel | Global (HQ: US) | $12B | 8,000 |
Key Challenges
Forrester research states, “The challenge of answer engines isn’t the decline in traffic, but rather the decline of visibility into buyer behavior.”4 The interviewees organizations recognized the importance of understanding how AI is disrupting the marketing landscape to adapt to shifting consumer behavior and executive-level priorities. Before using Bluefish, some of their brands experimented with manual prompt testing and content optimization, while others had no experience with AI marketing. Interviewees emphasized the need to train marketers on AEO fundamentals and create a strategy to increase AI-mediated performance. Interviewees noted how their brands struggled with common challenges, including:
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Keeping pace with consumer behavior. The interviewees explained that consumers are increasingly turning to answer engines to qualify and make their shopping decisions and, as a result, their brands needed to better understand how to appear in AI-generated responses. The associate director of generative and agentic AI at a CPG brand said: “This whole industry has been fast-evolving. We’ve noticed that a lot of consumers are turning to these platforms like ChatGPT, Google AIO, and Claude to get quick answers to their questions. We felt this was a big opportunity for us to really jump into this space.” The global head of search at a travel brand said: “Users are asking travel questions within these AI platforms, and we wanted to know how our brand is being presented. How are users searching?”
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Fulfilling top-level executive priorities. Interviewees stressed the need to meet executive demand for AI-driven marketing strategies. The director of GEO at an insurance brand said: “Towards Q3 and Q4 last year, [AEO] became a huge priority at an organizational level in Canada. It really goes beyond marketing. It’s top-level executive priority.” The director of SEO at a personal care brand echoed this sentiment: “This is an executive-driven piece right now. There is a lot of interest in visibility and performance, and I need to have the data that execs can trust.”
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Addressing AI marketing knowledge and skills gaps. Interviewees emphasized the need for education and upskilling within their marketing teams to meet both consumer demand and executive objectives. The associate director, generative and agentic AI at a CPG brand said: “When we first started our engagement, we didn’t really know much about the space. We needed to get up to speed and train up our marketers on the fundamentals. What are the different platforms that are out there? How should we be thinking about the different models and how our brands show up? What are the different LLMs scraping across different sites?” The agentic commerce specialist at a health and beauty brand said: “This is an important channel that’s going to be growing and become increasingly relevant. We can’t be smart unless we have the information. Bluefish provides that information.”
Investment Objectives
The interviewees’ organizations searched for a solution that could:
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Provide a baseline understanding of current brand performance across answer engines.
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Drive an increase in brand performance through actionable insights and optimizations.
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Train marketers on AEO fundamentals.
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Promote collaboration across the marketing organization.
Spotlight
Why Bluefish?
Interviewees mentioned the following reasons their organizations chose Bluefish:
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AEO expertise. The director of GEO at an insurance brand said: “We noticed the traditional SEO players felt like AI visibility was an add-on on top of their tech stack. We felt that a partner [built around] AI marketing would bring much more value and innovation than a … traditional SEO [provider]. It’s really the cross-marketing foundation and what the [capabilities] that Bluefish brings that made a difference, and it’s still what makes the difference today.” The senior director of search capabilities at a pharmaceuticals brand said, “Because this space is so new, it’s been really helpful to have a company that’s really dedicated to the generative AI space.”
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Enterprise-scale capabilities. The global head of search at a travel brand said: “Bluefish did the best job at handling the level of data that we need. We have a very sizable search program and needed to track millions of prompts per month. Bluefish’s competition was not able to handle the scale.”
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Executive-level reporting. The director of SEO at a personal care brand said: “One of the reasons why Bluefish has been successful with us is that they’re really focused on visibility and less on granular SEO pieces. They produce great decks that I can put in front of anyone and [be] confident that they’re going to be prepared.”
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Forward-looking product roadmap. The associate director of, generative and agentic AI at a CPG brand said: “[Bluefish’s] roadmap is very impressive. They are thinking with the client in mind in terms of anticipating what’s next. What are some new features that can help answer our questions? How might we navigate conversations with the LLMs directly versus guessing? Bluefish has offered to help navigate conversations, which is great.”
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Strategic guidance and collaboration. The agentic commerce strategist at a health and beauty brand said, “The reason we partnered with Bluefish first and why they stood out was their deep knowledge in the industry and strategic collaboration.” The associate director of generative and agentic AI at a CPG brand said, “Bluefish’s key strengths are the level of thoughtfulness that they put forth in their training materials and their ability to answer our questions based on the rich data that they have.”
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Measurement capabilities. The associate director of generative and agentic AI at the CPG brand said: “All of our brands have received very in-depth measurement audit reports from Bluefish. I think that’s where not only the client service, but [also] the depth of measurement capabilities that Bluefish offers, seems to be very comprehensive and well put together.”
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Optimization recommendations. The senior director of search capabilities at a pharmaceuticals brand said: “Where Bluefish stands out is in their recommendations. I don’t think [competitors] have recommendations as sophisticated as Bluefish has provided.”
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Cross-channel visibility. The senior director of search capabilities at a pharmaceuticals brand said: “I like that Bluefish is more surrounding not just to our website, but partnership and social channels. They are more 360 [degrees] in their recommendations. Getting that outside view of the other contributors has been insightful.”
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User-friendly interface. The director of GEO at an insurance brand said: “The value of Bluefish today versus a [traditional SEO player] is that it’s very hard to convince social media teams or brand or PR to go into something that is too techy and SEO. It’s very intimidating because their DNA is so tight with a very technical marketing function. That is almost scary. Whereas I think Bluefish is very easy to use. You don’t need a huge learning curve — especially at the high level — to understand how this is working.”
Composite Organization
Based on the interviews, Forrester constructed a TEI framework, a composite company, and an ROI analysis that illustrates the areas financially affected. The composite organization is representative of the interviewees’ organizations, and it is used to present the aggregate financial analysis in the next section. The composite organization has the following characteristics:
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Description of composite. The composite is a $35 billion dollar organization with a portfolio of 20 brands.
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Deployment characteristics. In Year 1, the composite deploys Bluefish across five of its brands. This increases to 10 brands in Year 2 and 20 brands in Year 3. The deployment is limited to US brands only, although Bluefish supports global deployment. Each brand receives an audit from Bluefish. The organization also invests in professional services from Bluefish.
KEY ASSUMPTIONS
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$35 billion annual revenue
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Portfolio of 20 brands
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Brands monitored on Bluefish: 5 in Year 1, 10 in Year 2, 20 in Year 3
Spotlight
AEO Measurement
Forrester research states, “Instead of traffic, ranking, and average position, marketers should focus on indicators of brand visibility like share of search and answer engine results page (AERP) saturation.”5 Interviewees said engagement with Bluefish began with brand audits to establish a performance baseline and that the platform now measures key AI performance metrics that Bluefish calls AI Visibility, AI Favorability, AI Accuracy, AI Influence, AI Safety, and AI Presence.
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The director of GEO at an insurance brand said: “[The brand audit] was a big aha moment because if you don’t see the data, you have your own perception. … I think it really solidified that this is a measured and data-driven approach with a solid methodology. It explains the opportunities as well as where you can act and rectify.”
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The associate director of generative and agentic AI at a CPG brand said: “The audits gave a good baseline understanding of how brands are showing up on visibility across those LLMs. Are we portrayed more or less favorably versus competition on specific topics? What are the top cited sources? Are our owned and operated channels appearing among top influential sources?”
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The director of SEO at a personal care brand said: “[Bluefish has] metrics on influence and impact. … [They] look at all the information that’s on that URL to see how much of it makes it into the final LLM response. To me, that is a game changer because it allows a lens back on our own website.”
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The senior director of search capabilities at a pharmaceuticals brand said: “There’s AI Visibility, AI Favorability, and AI Safety. The safety piece is so important to us. If there is a source that is pulling incorrect information about our product, we can send that to the brand or communications teams so they are aware and can handle it. We decided pretty quickly after those audits that we [would] enter a yearlong contract.”
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The director of GEO at an insurance brand said: “We decided that our main KPI for this year is visibility. We also look at the secondary ones that are available on the Bluefish platform. If you don’t have content that is LLM friendly, you can’t even think about the others.”
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The senior director of search capabilities at a pharmaceuticals brand said, “Being able to send these insights out to our team so they’re aware of how they’re contributing to AI visibility has really leveled us up as an organization.”
Analysis Of Benefits
Quantified benefit data as applied to the composite
Total Projected Benefits
| Benefit | Year 1 | Year 2 | Year 3 | Total | Present Value |
|---|---|---|---|---|---|
| Total projected benefits - Low | $856,800 | $2,560,320 | $8,494,080 | $11,911,200 | $9,276,604 |
| Total projected benefits - Mid | $1,188,600 | $3,853,920 | $11,081,280 | $16,123,800 | $12,591,133 |
| Total projected benefits - High | $1,625,400 | $4,937,520 | $13,668,480 | $20,231,400 | $15,827,563 |
Marketing Operations Productivity
Evidence and data. Forrester research states, “Consumers’ rapid shift to natural language and multimodal search, the voracity of answer engines’ bots, and answer engines’ ability to fill the top of the funnel require marketers to significantly adapt content, technical, and measurement practices.”6
Interviewees explained that content management and site health optimization are critical to ensuring their brands remain visible and trusted across answer engines. With Bluefish, marketing teams gained access to prioritized consumer and competitive insights that identified which optimizations actions would drive the greatest impact. Interviewees said this reduced time spent on manual analysis and helped them focus efforts more effectively. They also described using the platform to scale optimization efforts across more brands and channels.
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The senior director of search capabilities at a pharmaceuticals brand said: “In Bluefish, I have a dashboard where recommendations are surfaced every day and prioritized based on potential impact: high, medium, or low. It saves my team a lot of time and gives us the flexibility to cover more brands or more web properties than we would have been able to [cover without it]. It helped us understand where to focus our time. This is one of the things that was really attractive to me.”
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The director of GEO at an insurance brand said:
- “Tool adoption is key first. It can help a lot of teams save time. We already delivered [phase one of our AEO-friendly optimization efforts]. We have the results and are in market. The action plans are there with briefs. We have committees and meetings by line of business. It’s really a running program right now.”
- “We are planning to release our first YouTube channel based on the insights that we have around opportunities on visibility. Additionally, we have never done digital PR … but now it is part of the plan. We know that if we want to win LLMs, it’s not just the website. We need to have thought leadership around themes that were surfaced with Bluefish. It is a multichannel initiative. We aim for a level of synchronicity in terms of the themes we want to address.”
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The director of SEO at a personal care brand said:
- “Bluefish gives an understanding of which of the activities teams do that are most valuable to driving our AI visibility. I expect it to save time in that teams are not wasting time doing something that isn’t going to have an impact.”
- “I was able to provide our PR team with a couple months of data to say, ‘Hey, I am very confident based on this dataset that these are the 20 publications that you should talk with for pitching these products because they consistently are cited in LLMs.’ … There’s so much stuff that we can operationalize around this data.”
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The agentic commerce strategic at a health and beauty brand said:
- “The baseline audit found that our brand was ranked as number two in mascara, foundations, and concealer. We also found that we were significantly underperforming with clean beauty seekers, one of our consumer segments. We created buying guides and beauty education articles. We enhanced our content on our makeup and skincare pages to add more relevant keywords and improved internal linking and highlight timeliness. The optimizations were all directed by Bluefish.”
- “Initially, we had an analytics person who we were going to bring on to do what Bluefish is doing for us. We saved the headcount [by having Bluefish analyze the results and help] us prioritize optimizations.”
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The global head of search at a travel brand said:
- “The user group will expand [because] we are a global company. I would imagine that the international business units will have access to this tooling very soon. The business operations teams as well as our local marketing teams responsible for improving [AEO] for their individual brands would definitely be interested in using this.”
- “I do think that this tooling will improve productivity over time. … We get information about which AI platforms are the most powerful. It tells us where the majority of our traffic is coming [from], which is very good.”
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The associate director of generative and agentic AI at a CPG brand said:
- “Given our focus on social, we are working to optimize our content on YouTube so that LLMs can effectively crawl through and cite our content. We are also exploring Reddit as well. Bluefish has been facilitating best-practice sessions.”
- “One of our longer-term initiatives is our earned PR strategy: thinking about which publications we should go after and how we show up to ensure we get top listing or top rankings. Our PR team is very well versed in all of the various brand audits.”
- “The digital teams have also implemented [AEO] on our owned brand sites and retailer PDPs (product detail pages) to drive more relevance and influence with LLMs and consumers.”
Modeling and assumptions. For the composite organization, Forrester assumes:
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Six members of the marketing team are impacted by Bluefish in their day-to-day work. This number increases to 12 members in Year 2 and 24 in Year 3.
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These marketing team members spend 70% of their time on content management and site health optimization tasks.
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In Year 1, the impacted marketing team members improve their productivity by between 5% (low) and 15% (high), increasing to 7% (low) and 17% (high) in Year 3.
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The average fully burdened annual salary for a marketing professional is $160,000.
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The composite has a productivity recapture rate of 50%, meaning half of all work is recaptured for productive activities.
Results. This yields a three-year projected PV ranging from $119,000 (low) to $306,000 (high).
Marketing Operations Productivity: Range Of Three-Year Cumulative Impact, PV
Marketing Operations Productivity
| Ref. | Metric | Source | Year 1 | Year 2 | Year 3 | |
|---|---|---|---|---|---|---|
| A1 | Marketing team members impacted by Bluefish | Composite | 6 | 12 | 24 | |
| A2 | Percentage of time dedicated to content management and site health optimization | Composite | 70% | 70% | 70% | |
| A3Low | 5% | 6% | 7% | |||
| A3Mid | Productivity gain with Bluefish | Interviews | 10% | 11% | 12% | |
| A3High | 15% | 16% | 17% | |||
| A4 | Average fully burdened annual salary for a marketing professional | Composite | $160,000 | $160,000 | $160,000 | |
| A5 | Productivity recapture | Composite | 50% | 50% | 50% | |
| AtLow | $16,800 | $40,320 | $94,080 | |||
| AtMid | Marketing operations productivity | A1*A2*A3*A4*A5 | $33,600 | $73,920 | $161,280 | |
| AtHigh | $50,400 | $107,520 | $228,480 | |||
| Three-year projected total: $151,200 - $386,400 | Three-year projected present value: $119,279 - $306,338 | |||||
Performance Lift
Evidence and data. Forrester research states, “Measuring and identifying opportunities to grow visibility across engines sets brands up to grow market share.”7 Interviewees reported that after completing brand audits and implementing optimizations, their organizations began tracking improvements in all core AI metrics and citations. They said these gains increased the likelihood that their brands were present, trusted, and cited in AI-generated responses, expanding their influence over buyers’ decision-making. Interviewees also reported a growing share of brand revenue influenced by answer engines.
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The associate director of generative and agentic AI at a CPG brand said:
- “A lot of the teams are working on making those [AEO] updates and have implemented the recommendations. We have seen great progress on moving the needle on some of our AI performance metrics. One brand team was able to make the appropriate adjustments on our website. Previously, the website was not even ranked among the top five influential sources in AI responses, but now it’s ranked among the top three, which is really great to see. It goes to demonstrate how the team is able to run with the [AEO] principles Bluefish has shared.”
- “Here is one example that was supported with the Bluefish data: One of our brands was lagging on a particular topic versus competition, and after the [AEO] updates, our visibility score improved by 15 points. The gap between competition widened significantly, which was great to see.”
- “Having retailer visibility on their LLMs and how we might track our performance on those LLMs is important. I think the retailer PDP optimizations is probably the area where we could double-click into. [For example,] if we were to optimize, do we see any uptick in our conversion, in our sales from an e-commerce perspective? This might be a closer in way for us to evaluate true business metrics.”
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The agentic commerce strategist at a health and beauty organization said, “After implementing the optimizations [Bluefish] shared with us, we saw an increase in visibility, citations, and share of voice.”
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The global head of search at a travel brand said, “The percentage of revenue influenced by these answer engines is trending in an upward direction.”
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The director of SEO at a personal care brand said: [Our retailer page] is more of a closed ecosystem. The question I’m interested in is whether increased visibility within the LLMs we can influence correlates to revenue growth for a product. We’re going to run tests around AI visibility. If visibility increases and revenue increases too, what else are we going to attribute that lift to?”
Modeling and assumptions. For the composite organization, Forrester assumes:
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Bluefish monitors five of its brands in Year 1. This number increases to 10 in Year 2 and 20 in Year 3.
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The average annual revenue per brand is $1.75 billion.
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The percentage of revenue attributable to answer engines without Bluefish is 3% in Year 1, 3.5% in Year 2, and 4% in Year 3.
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In Year 1, the percentage of revenue attributable to answer engines with Bluefish increases between 2.5% (low) and 5% (high). This increases to 5% (low) and 8% (high) in Year 3.
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The composite has an operating margin of 12%.
Results. This yields a three-year projected PV ranging from $9.2 million (low) - $15.5 million (high).
Performance Lift: Range Of Three-Year Cumulative Impact, PV
Performance Lift
| Ref. | Metric | Source | Year 1 | Year 2 | Year 3 | |
|---|---|---|---|---|---|---|
| B1 | Brands monitored with Bluefish | Composite | 5 | 10 | 20 | |
| B2 | Average revenue per brand | Composite | $1,750,000,000 | $1,750,000,000 | $1,750,000,000 | |
| B3 | Total revenue for brands monitored with Bluefish | B1*B2 | $8,750,000,000 | $17,500,000,000 | $35,000,000,000 | |
| B4 | Percentage of revenue attributable to answer engines without Bluefish | Composite | 3.0% | 3.5% | 4.0% | |
| B5 | Subtotal: Revenue attributed to answer engines without Bluefish | B3*B4 | $262,500,000 | $612,500,000 | $1,400,000,000 | |
| B6Low | 2.5% | 3.5% | 5% | |||
| B6Mid | Uplift in answer-engine-attributable revenue with Bluefish | Interviews | 3.5% | 5% | 6.5% | |
| B6High | 5% | 6.5% | 8.0% | |||
| B7Low | 3.08% | 3.62% | 4.20% | |||
| B7Mid | Percentage of revenue attributed to answer engines with Bluefish | B4*(1+B6) | 3.11% | 3.68% | 4.26% | |
| B7High | 3.15% | 3.73% | 4.32% | |||
| B8Low | $269,500,000 | $633,500,000 | $1,470,000,000 | |||
| B8Mid | Subtotal: Revenue attributed to answer engines with Bluefish | B3*B7 | $272,125,000 | $644,000,000 | $1,491,000,000 | |
| B8High | $275,625,000 | $652,750,000 | $1,512,000,000 | |||
| B9Low | $7,000,000 | $21,000,000 | $70,000,000 | |||
| B9Mid | Net new revenue attributable to Bluefish | B8-B5 | $9,625,000 | $31,500,000 | $91,000,000 | |
| B9High | $13,125,000 | $40,250,000 | $112,000,000 | |||
| B10 | Operating margin | Composite | 12% | 12% | 12% | |
| BtLow | $840,000 | $2,520,000 | $8,400,000 | |||
| BtMid | Performance lift | B9*B10 | $1,155,000 | $3,780,000 | $10,920,000 | |
| BtHigh | $1,575,000 | $4,830,000 | $13,440,000 | |||
| Three-year projected total: $11,760,000 - $19,845,000 | Three-year projected present value: $9,157,325 - $15,521,225 | |||||
Unquantified Benefits
Interviewees mentioned the following additional benefits that their organizations experienced but were not able to quantify:
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Cross-functional alignment. Forrester research states: “AEO is a fragile, sprawling process that spans numerous stakeholders. … The SEO should collaborate closely with content marketers and web developers, who have the greatest sway over content’s persuasiveness and distribution on and off brands’ sites as well as sites’ crawlability and indexability. Paid media practitioners, PR professionals, social media managers, and brand marketers complement these three core AEO roles by collecting and analyzing the voice of the customer and impacting brand visibility and sentiment across owned, earned, and paid media.”8
Interviewees said Bluefish helped bring these stakeholder groups together around a shared set of insights and priorities. The head of SEO at a personal care brand said: “For example, we track [retail platforms] in Bluefish. That was a really smart idea because it allows for cross-collaboration between teams that usually don’t talk to each other.” -
Change management support. Interviewees emphasized the “team sport” nature of AEO but also recognized the need for guidance around how to best organize team members and their roles to ensure program success. The director of GEO at an insurance brand said: “The questions we have today as a marketing team are: Where should this function live? Is it a business unit? Is it transversal? Is it part of a strategic pod? Who do you hire? Do you hire more on data or on brands? The conversation we had with Bluefish in the past months were really around what would be the ideal team. What does an [AEO] task force look like? They came with very, very good recommendations.”
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Reduced brand risk. Interviewees explained that Bluefish provides insights that allow their marketing teams to address and get ahead of negative brand sentiment that could lead to lost sales. The director of search capabilities at a pharmaceuticals brand said: “There’s a section of risks that shows either a negative sentiment or that looks strange for us to review. I don’t even know how we would have found that without Bluefish. It helps give us a lay of the land and understand how people are talking about us, so we can correct inaccuracies and again try to surface the main product information that we need to.” The associate director of generative and agentic AI at a CPG brand said: “This helps inform brand health because LLMs are essentially interpreting our brands on behalf of us to consumers. This is a good gut check of the state of our brand where we might need to strengthen or bolster our messaging and communications.”
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Marketing-team skill development. Interviewees explained that aside from technical implementation, Bluefish acts as a strategic partner that shares and brainstorms on AI marketing-related topics alongside their own teams. They also stressed that the Bluefish team dedicated time to sharing knowledge and skills with their marketing team. The associate director of generative and agentic AI at a CPG brand said, “Bluefish has been a great thought partner along our journey in understanding the fundamentals of what this space presents to us and what we should do about it.” The director of GEO at an insurance brand said: “I discuss with Bluefish and also share with my executives that we want to make sure our teams are upskilled and trained to this new marketing function. It’s very important. That’s one area where Bluefish is very good at being flexible and very present within trainings.”
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Content strategy evolution. Interviewees shared examples of how understanding AEO has led to investing deeper in earned media. The global head of search at a travel brand said: “This helps us manage and track investments in third-party content. If we’re working with influencers or bloggers, we can understand how often those third parties are being cited in types of answers. This has allowed us to evolve our strategy where we’re not solely focused on first-party content. We’ve actually made the decision to increase our investment in third-party relationships.”
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Traditional SEO enhancement. Interviewees emphasized secondary benefits to their organizations’ overall search programs as a result of optimizing content for answer engines. The global head of search at a travel brand said: “Your ability to refresh content and make it relevant on a regular basis is good across the board. We’re seeing lifts to our regular SEO numbers as a result of this AI push. We’re actually doing a better job with just regular search.”
Flexibility
The value of flexibility is unique to each customer. There are multiple scenarios in which a customer might implement Bluefish and later realize additional uses and business opportunities, including:
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Expanded AI marketing measurement. Forrester research states, “Organizations must have the ability to track performance across traditional search engines as well as AI-powered search features and answer engines, incorporate insights into marketing intelligence and reporting, and share insights cross-functionally.”9 Interviewees said their brands were still in the early stages of measuring the impact of AI marketing efforts and were exploring how to integrate AI marketing performance into broader marketing measurement frameworks. The associate director of generative and agentic AI at a CPG brand said: “I still have good faith that we’re on the right path because if we weren’t doing this, we would be losing out to competition. How can we better link our efforts here with understanding how consumers navigate search today? How can we better involve our measurement approach, looking not only at paid search results but also organically with AI search in the mix?”
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Adoption of future Bluefish capabilities. Interviewees expressed interest in additional Bluefish capabilities that could support future optimization efforts. The director of SEO at a personal care brand said: “Bluefish has an extension that can help [us] understand audience data for whom different subsets would be potentially seeing [our] AI ads. We’re going to start piloting that, which could be quite valuable. They also have an effort to do a lot more with product attribute data to feed directly into ACPs and UCPs to make a measurement feedback loop. I’m extremely bullish.” The head of agentic commerce at a health and beauty brands said: “We’re highly aware of the capability that helps brands create content. We’re actively looking for that solution to help scale content faster.”
Flexibility would also be quantified when evaluated as part of a specific project (described in more detail in Total Economic Impact Approach).
Analysis Of Costs
Quantified cost data as applied to the composite
Total Costs
| Ref. | Cost | Initial | Year 1 | Year 2 | Year 3 | Total | Present Value |
|---|---|---|---|---|---|---|---|
| Ctr | Bluefish fees | $0 | $646,380 | $1,183,140 | $1,631,700 | $3,461,220 | $2,791,340 |
| Dtr | Implementation costs | $11,319 | $0 | $0 | $0 | $11,319 | $11,319 |
| Etr | Platform management | $0 | $29,106 | $38,808 | $48,510 | $116,424 | $94,979 |
| Total costs (risk-adjusted) | $11,319 | $675,486 | $1,221,948 | $1,680,210 | $3,588,963 | $2,897,638 |
Bluefish Fees
Evidence and data. Interviewees said their organizations pay Bluefish fees (including those for professional services) based on factors including the number of brands monitored and the number of AI platforms used to monitor those brands. Pricing may vary. Contact Bluefish for additional details.
Modeling and assumptions. For the composite organization, Forrester assumes:
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The composite monitors five brands on Bluefish in Year 1, 10 in Year 2, and 20 in Year 3.
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The composite pays for Bluefish professional services.
Risks. This cost may vary depending on:
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The number of brands monitored on Bluefish.
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The number of languages monitored per brand.
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The number of regions monitored per brand.
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Whether or not professional services are included.
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Inclusion of enhanced features (e.g., Bluefish Ads, Bluefish AI Accuracy).
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Any negotiated discounts.
Results. To account for these risks, Forrester adjusted this cost upward by 5%, yielding a three-year, risk-adjusted total PV (discounted at 10%) of $2.8 million.
Bluefish Fees
| Ref. | Metric | Source | Initial | Year 1 | Year 2 | Year 3 |
|---|---|---|---|---|---|---|
| C1 | Bluefish platform fees | Composite | $0 | $165,600 | $496,800 | $684,000 |
| C2 | Bluefish services | Composite | $0 | $450,000 | $630,000 | $870,000 |
| Ct | Bluefish fees | C1+C2 | $0 | $615,600 | $1,126,800 | $1,554,000 |
| Risk adjustment | ↑5% | |||||
| Ctr | Bluefish fees (risk-adjusted) | $0 | $646,380 | $1,183,140 | $1,631,700 | |
| Three-year total: $3,461,220 | Three-year present value: $2,791,340 | |||||
Implementation Costs
Evidence and data. Interviewees explained that implementation included working with Bluefish to align on brands and product lines to monitor, defining target audience and topics, configuring the insights dashboard, and prioritizing key performance metrics. Implementation involved resources across SEO/AEO, brand, customer experience, and information security teams. Interviewees said implementation required coordination across these stakeholders and a period of onboarding, configuration, and change management.
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The senior director of search capabilities at a pharmaceuticals brand said: “The start of the pilot was to gain an understanding of the tools, capabilities, and team supporting us at Bluefish. We compared capabilities with our current tech stack. They helped us configure the tool in a way that would really capture our target audience. We had a lot of meetings about dashboard overviews, and they gave the full brand audits.”
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The director of GEO at an insurance brand said: “The implementation part was a key success moment because it helped us to really link the strategy that we have for our customers and equity drivers. We wanted to use the same inputs as some existing methodologies in our organization.”
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The associate director of generative and agentic AI at a CPG brand said: “It took about a month’s time to understand our needs and align our brand’s outcomes. We wanted to rightsize and ensure everyone was on the same marching orders.”
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The director of SEO at a personal care brands said: “It was a couple weeks of back and forth. The inputs Bluefish asked for were relatively simple. It was more [about] finding the right people internally who could say, ‘Here’s what we are going to focus on.’”
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The global head of search at a travel brand said: “Implementation wasn’t laborious. We had a lot of the data we knew we wanted to track. We provided it to Bluefish, and our account team uploaded all of the data for us.”
Modeling and assumptions. For the composite organization, Forrester assumes:
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Implementation requires 140 hours of effort across the composite’s marketing and information security teams.
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The average blended fully burdened salary for an implementation resource is $77.
Risks. This cost may vary depending on:
-
Roles involved during implementation.
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Number of brands initially monitored on Bluefish.
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Scale of target audiences.
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Scale of topics set up.
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Familiarity with AEO.
Results. To account for these risks, Forrester adjusted this cost upward by 5%, yielding a three-year, risk-adjusted total PV (discounted at 10%) of $11,000.
Implementation Costs
| Ref. | Metric | Source | Initial | Year 1 | Year 2 | Year 3 |
|---|---|---|---|---|---|---|
| D1 | Implementation time (hours) | Interviews | 140 | |||
| D2 | Average blended fully burdened hourly salary for an implementation resource | Composite | $77 | |||
| Dt | Implementation costs | D1*D2 | $10,780 | $0 | $0 | $0 |
| Risk adjustment | ↑5% | |||||
| Dtr | Implementation costs (risk-adjusted) | $11,319 | $0 | $0 | $0 | |
| Three-year total: $11,319 | Three-year present value: $11,319 | |||||
Platform Management Costs
Evidence and data. Interviewees said that after initial implementation, their organizations continued to add additional brands to the Bluefish platform for monitoring. Their marketing teams meet regularly with Bluefish representatives to discuss recommendations and track measurement against their goals.
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The associate director of generative and agentic AI at a CPG brand said, “We have a few dedicated account reps who we work with on a regular basis to understand and map out our priorities.”
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The senior director of search capabilities at a pharmaceuticals organization said: “We’re meeting biweekly with Bluefish. We go through the dashboard and any questions my team has. If the Bluefish team is seeing something they want us to look at in terms of recommendations or flag anything, it is good to have the touchbase.”
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The agentic commerce strategist at a health and beauty brand said, “To understand and implement opportunities within the platform, I would say [we dedicated] 5 to 8 hours a week.”
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The global head of search at a travel organization said: “We have account teams that give summaries of what’s happened. It’s biweekly or monthly. The team dedicated to AEO is probably spending 1 or 2 hours a week on improving the performance within the platform.”
Modeling and assumptions. For the composite organization, Forrester assumes:
-
The composite dedicates 360 hours annually to platform management.
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The average blended fully burdened salary for a marketing professional is $77.
Risks. This cost may vary depending on:
-
The number of brands the organization monitors with Bluefish.
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The number of Bluefish users.
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The number of optimizations teams implemented as a result of Bluefish.
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How frequently the organization meets with Bluefish representatives.
Results. To account for these risks, Forrester adjusted this cost upward by 5%, yielding a three-year, risk-adjusted total PV (discounted at 10%) of $95,000.
Platform Management Costs
| Ref. | Metric | Source | Initial | Year 1 | Year 2 | Year 3 |
|---|---|---|---|---|---|---|
| E1 | Bluefish platform management time (hours) | Interviews | 0 | 360 | 480 | 600 |
| E2 | Average blended fully burdened hourly salary for a marketing professional | Composite | $77 | $77 | $77 | |
| Et | Platform management costs | E1*E2 | $0 | $27,720 | $36,960 | $46,200 |
| Risk adjustment | ↑5% | |||||
| Etr | Platform management costs (risk-adjusted) | $0 | $29,106 | $38,808 | $48,510 | |
| Three-year total: $116,424 | Three-year present value: $94,979 | |||||
Financial Summary
Consolidated Three-Year, Risk-Adjusted Metrics
Three-Year Projected Financial Analysis For The Composite Organization
Cash Flow Analysis (Risk-Adjusted)
| Initial | Year 1 | Year 2 | Year 3 | Total | Present Value | |
|---|---|---|---|---|---|---|
| Total costs | ($11,319) | ($675,486) | ($1,221,948) | ($1,680,210) | ($3,588,963) | ($2,897,638) |
| Total benefits (low) | $0 | $856,800 | $2,560,320 | $8,494,080 | $11,911,200 | $9,276,604 |
| Total benefits (mid) | $0 | $1,188,600 | $3,853,920 | $11,081,280 | $16,123,800 | $12,591,133 |
| Total benefits (high) | $0 | $1,625,400 | $4,937,520 | $13,668,480 | $20,231,400 | $15,827,563 |
| Net benefits (low) | ($11,319) | $181,314 | $1,338,372 | $6,813,870 | $8,322,237 | $6,378,966 |
| Net benefits (mid) | ($11,319) | $513,114 | $2,631,972 | $9,401,070 | $12,534,837 | $9,693,495 |
| Net benefits (high) | ($11,319) | $949,914 | $3,715,572 | $11,988,270 | $16,642,437 | $12,929,925 |
| PROI (low) | 220% | |||||
| PROI (mid) | 335% | |||||
| PROI (high) | 446% |
Please Note
The financial results calculated in the Benefits and Costs sections can be used to determine the PROI and projected NPV for the composite organization’s investment. Forrester assumes a yearly discount rate of 10% for this analysis.
These risk-adjusted PROI and projected NPV values are determined by applying risk-adjustment factors to the unadjusted results in each Benefit and Cost section.
The initial investment column contains costs incurred at “time 0” or at the beginning of Year 1 that are not discounted. All other cash flows are discounted using the discount rate at the end of the year. PV calculations are calculated for each total cost and benefit estimate. NPV calculations in the summary tables are the sum of the initial investment and the discounted cash flows in each year. Sums and present value calculations of the Total Benefits, Total Costs, and Cash Flow tables may not exactly add up, as some rounding may occur.
From the information provided in the interviews, Forrester constructed a New Technology: Projected Total Economic Impact™ (New Tech TEI) framework for those organizations considering an investment in Bluefish.
The objective of the framework is to identify the cost, benefit, flexibility, and risk factors that affect the investment decision. Forrester took a multistep approach to evaluate the projected impact that Bluefish can have on an organization.
Due Diligence
Interviewed Bluefish stakeholders and Forrester analysts to gather data relative to Bluefish.
Early-Implementation Interviews
Interviewed six decision-makers at organizations using Bluefish in a pilot or beta stage to obtain data about projected costs, benefits, and risks.
Composite Organization
Designed a composite organization based on characteristics of the interviewees’.
Projected Financial Model Framework
Constructed a projected financial model representative of the interviews using the New Tech TEI methodology and risk-adjusted the financial model based on issues and concerns of the interviewees.
Case Study
Employed four fundamental elements of New Tech TEI in modeling the investment’s potential impact: benefits, costs, flexibility, and risks. Given the increasing sophistication of ROI analyses related to IT investments, Forrester’s TEI methodology provides a complete picture of the total economic impact of purchase decisions. Please see Appendix A for additional information on the TEI methodology.
Total Economic Impact Approach
Projected benefits
Projected benefits represent the projected value the solution delivers to the business. The New Tech TEI methodology places equal weight on the measure of projected benefits and projected costs, allowing for a full examination of the solution’s effect on the entire organization.
Projected costs
Projected costs comprise all expenses necessary to deliver the proposed value, or benefits, of the solution. The methodology captures implementation and ongoing costs associated with the solution.
Flexibility
Flexibility represents the strategic value that can be obtained for some future additional investment building on top of the initial investment already made. The ability to capture that benefit has a PV that can be estimated.
Risks
Risks measure the uncertainty of benefit and cost estimates given: 1) the likelihood that estimates will meet original projections and 2) the likelihood that estimates will be tracked over time. TEI risk factors are based on “triangular distribution.”
Financial Terminology
Present value (PV)
The present or current value of (discounted) cost and benefit estimates given at an interest rate (the discount rate). The PVs of costs and benefits feed into the total NPV of cash flows.
Projected net present value (PNPV)
The projected present or current value of (discounted) future net cash flows given an interest rate (the discount rate). A positive project NPV normally indicates that the investment should be made unless other projects have higher NPVs.
Projected return on investment (PROI)
A project’s expected return in percentage terms. ROI is calculated by dividing net benefits (benefits less costs) by costs.
Discount rate
The interest rate used in cash flow analysis to take into account the time value of money. Organizations typically use discount rates between 8% and 16%.
Appendix A
NEW TECHNOLOGY: Projected Total Economic Impact
New Technology: Projected Total Economic Impact (New Tech TEI) is a methodology developed by Forrester Research that enhances a company’s technology decision-making processes and assists solution providers in communicating their value proposition to clients. The New Tech TEI methodology helps companies demonstrate, justify, and realize the tangible value of business and technology initiatives to both senior management and other key stakeholders.
Appendix C
Supplemental Material
Related Forrester Research
Karen Tran, Amy Bills, Should B2B Brands Embrace Reddit?, Forrester Blogs, November 6, 2025.
Nikhil Lai, From Prompts To Presents: The Marketer’s Guide To Answer Engine Optimization, Forrester Blogs, November 24, 2025.
Appendix D
Endnotes
1 Source: Assess Your Answer Engine Optimization (AEO) Maturity, Forrester Research, Inc., April 26, 2026.
2 Source: Best Practices For Answer Engine Optimization (AEO), Forrester Research, Inc., November 12, 2025.
3 Total Economic Impact is a methodology developed by Forrester Research that enhances a company’s technology decision-making processes and assists solution providers in communicating their value proposition to clients. The TEI methodology helps companies demonstrate, justify, and realize the tangible value of business and technology initiatives to both senior management and other key stakeholders.
4 Source: Overcome The Visibility Vacuum, Forrester Research, Inc., Apr 27, 2026.
5 Source: Best Practices For Answer Engine Optimization (AEO), Forrester Research, Inc., Nov 12, 2025.
6 Source: Nikhil Lai, Riley McDonnell, How To Master Answer Engine Optimization, Forrester Blogs, November 14, 2025.
7 Source: Best Practices For Answer Engine Optimization (AEO), Forrester Research, Inc., November 12, 2025.
8 Source: Answer Engine Optimization (AEO) Role Connections Tool, Forrester Research, Inc., December 15, 2025.
9 Source: Assess Your Answer Engine Optimization (AEO) Maturity, Forrester Research, Inc., April 16, 2026.
Disclosures
Readers should be aware of the following:
This study is commissioned by Bluefish and delivered by Forrester Consulting. It is not meant to be used as a competitive analysis.
Forrester makes no assumptions as to the potential ROI that other organizations will receive. Forrester strongly advises that readers use their own estimates within the framework provided in the study to determine the appropriateness of an investment in Bluefish. For any interactive functionality, the intent is for the questions to solicit inputs specific to a prospect's business. Forrester believes that this analysis is representative of what companies may achieve with Bluefish based on the inputs provided and any assumptions made. Forrester does not endorse Bluefish or its offerings. Although great care has been taken to ensure the accuracy and completeness of this model, Bluefish and Forrester Research are unable to accept any legal responsibility for any actions taken on the basis of the information contained herein. The interactive tool is provided ‘AS IS,’ and Forrester and Bluefish make no warranties of any kind.
Bluefish reviewed and provided feedback to Forrester, but Forrester maintains editorial control over the study and its findings and does not accept changes to the study that contradict Forrester’s findings or obscure the meaning of the study.
Bluefish provided the customer names for the interviews but did not participate in the interviews.
Consulting Team:
Sarah Lervold
Published
August 2026