“While the pay-per-click advertising model has served the online ad industry well, Exchange Place will offer the ultimate cost-per-action solution,” said Accoona CEO Stuart Kauder in a statement, “Given the rising demand in the advertising industry for return-on-investment accountability, we believe that the time is right for Exchange Place to take hold. The platform is the industry’s first pay-per-lead bidding system for real-time qualified sales leads for both the online and offline markets.”

The new system promises to base the cost of viable leads on actual market factors like types of goods and services, industries, and geographic locations. Advertisers select attributes about their industry and the type of consumer they’re looking for. Then they bid on how much they’re willing to pay. The top four bidders are matched with the seller and they exchange contact information and the advertiser gets their first impressions. According to the release, advertisers can manage their whole campaign through the Exchange Place console.