ADOTAS — 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.