Video 'matchmaking' platform connects consumers with advertisers
Will online users voluntarily watch advertiser videos in exchange for rewards? AdGenesis, a startup that has developed a new white label video advertising platform, believes they will.
The New York-based company today introduced a new AdMatch video advertising unit for its AdGenesis platform, which debuted in June. The ad unit houses branded video content that is delivered to users who opt in to the AdGenesis network.
Here’s how it works: In exchange for information on their interests and purchase intent, users are matched with relevant brands, which serve them video content ranging from 15-second commercials to 4-minute short-form videos. Users are informed about new content via text message or e-mail, and after they watch the video – on demand and in its entirety – from their mobile device or PC, the advertiser can offer a variety of incentives, ranging from product discounts and virtual goods to social gaming and invitations or promotions to offline events.
Where do publishers fit in? They can house the videos on microsites or other branded content pages. AdGenesis currently runs on two consumer rewards sites, Beezag.com (a sister company) and InboxDollars.com. AdGenesis expects to announce a deal with a large national consumer publisher soon, according to Richard Smullen, co-founder and CEO.
“Once a publisher white labels us and plugs us into their website, we can tailor the rewards more to the types of users that have joined AdGenesis through that publisher,” said Smullen.
AdGenesis videos are more effective for brands than traditional video advertising on several fronts, Smullen claims. First, because users opt into the network, advertisers can target consumers who are more likely to know and want their brand. Second, the brand engagement extends well beyond a 15-second preroll.
“When you have to watch preroll, your objective is to get to the content. The last thing you’re thinking about is the advertiser,” said Smullen. “Our platform allows the brand awareness to remain after the video is consumed, because the consumer chose to watch it and the advertiser can follow with rewards or another call to action.”
In exchange for bringing users into the network, publishers get a share of all the revenue that each user generates through AdGenesis. AdMatch is a “pay for performance” unit – users have to enter a series of characters that display at the mid- and end-points of a video to show that they watched it fully, and advertisers pay only for those instances. Other payment options include impressions from e-mail or mobile notification and various “activation” components, such as loyalty points or coupons.
Smullen said the company is seeing clickthrough rates of around 10% on the coupons or other calls to action that advertisers offer – with a couple of campaigns approaching 40%.