Online advertising may be having a moment: according to a study by
Burst Media last month, only about half of online video viewers tune
out after seeing an instream ad. Self-service online video advertising
platform Jivox plans to capitalize on the burgeoning market by
offering smaller, mom-and-pop advertisers access to easy-to-create
online video ads, the company said today.
"Jivox was founded on the premise that businesses are ready to move
beyond ineffective banner ads and costly search advertising by adding
online video ads to their marketing mix, but they need help tapping
into this new medium. The Jivox platform allows local businesses,
independent professionals, and small enterprises to get their products
and services in front of the right customers in a way that is rich and
compelling and drives new business," said Diaz Nesamoney, founder and
CEO of Jivox. "Just as Google enabled small businesses to promote
themselves online with the introduction of Google AdWords, we believe
Jivox can empower small businesses to take advantage of the burgeoning
advertising opportunities within online video."
The Jivox platform combines a video ad creation tool, proprietary
targeting technology, reporting capabilities and a growing network of
publishers to offer advertisers a complete, do-it-yourself service for
online video ads.
Online video marketing is the fastest growing segment of digital
online marketing because their click-through rates are generally much
higher than banner ads and their ilk. The cost of creating the ads was
discouraging smaller businesses, which is where Jivox and its low-cost
alternatives come in for customers like The Diamond Broker.
"Google search advertising has been the primary means of advertising
for us at The Diamond Broker. We specialize in GIA Certified Diamonds
with Excellent Cut grade, and feature nationally known jewelry
designers and our own custom designs, so the visual part of what we do
is very important. Unlike our search engine advertising, with Jivox
video ads we are able to reproduce our in-office experience online.
For our product, video advertising is particularly compelling, as the
beauty of diamonds and diamond jewelry is best expressed visually,"
said Jeff Richardson, founder of The Diamond Broker in Los Altos, CA.
"We are very excited by the capabilities Jivox offers us to create
unique ads featuring our diamonds and fine jewelry."
In other news, Jivox raised $2.7 million in a seed round of financing
led by Opus Capital, a venture capital firm. Jivox says it will use
the money to develop its online video ad platform and expand its sales
and marketing forces.
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