Consumers Cash In On Targeted Ads
Take AdGenesis, for example. The private label video platform for publishers and social networks rewards consumers who view ads and provide info on their buying patterns with points to buy virtual goods, along with other deals and incentives.
InboxDollars.com licensed the AdGenesis platform with plans to roll it out to its 10 million members later this month. Richard Smullen, co-founder and chief executive officer at AdGenesis, says the technology, "an ad network of consumers" sits on the verge of being adopted by a major unnamed publisher that should go live next month if the two companies can hash out the revenue share within the week.
The AdGenesis video platform runs on any Web site or mobile device. In tests, advertisers saw an average click-through rate of 20%.
Here's how it works. Consumers sign up to join the service, and whenever a matching brand signs on, the consumer gets notified by e-mail or SMS. Advertising videos run between 15 seconds to two minutes.
Consumers answer questions every time they sign in. For example: "Hey, Laurie, you told us about your trip to Ireland the last time you signed in. Have you bought your tickets yet?" If Laurie answers "No," a video ad from AerLingus might serve up to tell her about airfare specials. Watching that video earns her points redeemable for virtual currency, Facebook credits, concert drawings and more.
Smullen calls AdGenesis "the eHarmony of consumption" because the technology matches the consumer need with the brand. The cookie- and tag-free platform builds a detailed profile with information the consumer provides.
At the end of a video, before AdGenesis hands out the reward, coupon or offer, the consumer must answer a multiple choice question that gets passed to the advertiser.
"The more information consumers tell us, the more relevant video ads they will see," Smullen says, noting that many deals with other companies are in the works for the next few months.