OneSpot, A Startup Aiming To Revolutionise Banner Advertising, Raises $1.5 Million In Funds
Banner advertising has long been derided as the least effective form of online marketing, the main complaint being directed at its inability to divert a reader’s attention from the main article it sits beside.
The reason for this ineffectiveness, said Outbrain’s Gilad de Vries in a Forbes guest article earlier this year, is “because it’s almost impossible to tell a story in a banner”: companies have plenty of interesting content on their websites which could be used for advertising purposes, but this content rarely gets used in their banner advertising due to the lack of space it affords.
OneSpot, in its second iteration after failing in an attempt to create a top story search system based on linking patterns, is offering a service which takes a company’s original content – articles, posts, etc. – as well as praising articles published online by other people, and turns them into a display advert. If a writer is unhappy with their article being used in a banner advert, they can ask for it to be taken down.
The $1.5 million in funding OneSpot announced yesterday came from a number of sources including RSL Venture Partners, 500 Startups, Ralph Mack, Mike Maples, Sr. and Josh Baer, all of whom were intrigued by OneSpot’s idea of combining the appeal of content with the eye-catching appearance of banner advertising.
All a company has to do, having signed up to the service, is type in the URL of their chosen article and OneSpot will display a preview of the generated banner advert, complete with picture, tagline and links to both Facebook and Twitter. Companies can even change the picture if they are unhappy with it.
OneSpot’s service also allows users to target location, age and gender specific consumers with their advertising, and provides them with the tools to analyse their banner adverts by adding a tracking code to measure performance, engagement, and leads.
OneSpot can even intuitively monitor consumers by tracking them with a cookie. When someone goes on a OneSpot site, the service displays adverts on the websites they visit after, each one intended to increase the chance of an interaction. For example, if a company wanted to advertise an updated product, OneSpot would first display a banner linking to the product announcement, then to a complimentary review of the product, then, finally, to the site from which the product can be purchased.
Remington, one of the first companies to take advantage of OneSpot’s unique service, have extolled it in a recent press release: “OneSpot has been able to give us a ROI on display ads that we would have never thought possible and we found OneSpot really enabled us to come full circle with our strategy. They are definitely the missing link in our 360 degree approach to digital marketing are just as valuable as PPC and complementary to every other marketing channel we use.”
As well as Remington, a number of high profile companies have already signed up to use the product, including Home Depot, Dell, General Mills, Vonage and Spectrum Brands.
Will OneSpot revolutionise banner advertising?
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Will Sigsworth
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www.socialmediafrontiers.com
OneSpot, A Startup Aiming To Revolutionise Banner Advertising, Raises $1.5 Million In Funds
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Tuesday, December 04, 2012
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Reviewed by Unknown
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Tuesday, December 04, 2012
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