Jivox, a self-service online video advertising platform for local businesses, today introduced a service that gives smaller and local advertisers access to online video advertising by making it easy to create, target and deliver online video ads.
The Jivox platform combines a video ad creation tool, proprietary targeting technology, sophisticated reporting capabilities and a growing network of publishers to offer advertisers a complete, do-it-yourself service for online video advertising. Founded by Diaz Nesamoney, the visionary entrepreneur behind technology success stories Informatica and Celequest, Jivox aims to bring the power of online video advertising to the mass market.In a separate announcement today, Jivox also announced that it has raised a $2.7 million seed round of financing led by Opus Capital, an early-stage venture capital firm. The funds will be used to continue development of the Jivox online video advertising platform, as well as to expand the company's sales and marketing efforts.
"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.”
Online video marketing is the fastest growing segment of digital online marketing. Marketers are drawn to online video ads because they can often generate click-through rates that are much higher than banner ads and other alternatives. However, the cost of creating video ads and the resources required to place these ads has put this medium beyond the reach of most smaller and local businesses. Jivox was designed specifically for these businesses, reducing the cost and complexity of online video advertising so that anyone can take advantage of this powerful new advertising method.
Jivox customer The Diamond Broker, which actively leverages online advertising methods to promote its products, expects that online video advertising with Jivox will add a valuable visual element to its advertising efforts.
"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.”
Self-Service Online Video Advertising Platform
The Jivox service provides tools that enable advertisers to create and place ads on their own, including an interactive and easy-to-use ad creation tool that allows advertisers to leverage templates provided by the service or use their own creative content to develop compelling video ad content. After creating their ads with Jivox, advertisers tap into the service's micro-targeting algorithms and established network of online video publishers to deliver their advertising to audiences based on geographic, demographic or contextual parameters.
The Jivox platform includes:
- Jivox AdSlate: This self-service video creation tool allows users to create ads using Jivox's large library of still images, video clips and music, or by using their own content such as a digital picture of a storefront, product shots, head shots or logos. Users can enhance this content with snappy ad copy and other useful information, such as contact information, website URL, special discounts and click-through promotions.
- Jivox Targeting and Campaign Management: Jivox technology enables advertisers to get their ads in front of the right audience. Sophisticated algorithms developed by Jivox use extensive web site contextual data and content metadata to match ads with audiences most likely to respond favorably to a campaign. Once the campaign is launched, campaign reports give users advanced intelligence to get an instant view of results so they can make intelligent decisions about how to improve or expand the campaign.
Jivox publisher Eros International plc, an established global player in the fast-growing Indian media and entertainment arena, has an online film library containing more than 1,300 titles on-demand. As part of the Jivox Video Network, Eros is working with Jivox to monetize its video assets and help small and local advertisers reach its audience of engaged viewers.
"With recent advances in technology and consumer viewing preferences, video has emerged as a powerful medium for advertising on the Internet. Jivox's online advertising service is the first of its kind in the industry to enable advertisers and agencies to rapidly create and customize professional quality video ads and deliver these to a targeted audience. Eros is pleased to partner with Jivox to deliver video ads via our on-demand portal," said Manu Kaushish, Senior Vice President New Media, Eros International.
Advertising agencies also see the power of this model to engage with a new set of advertisers, and Jivox is actively partnering with agencies to help companies exploit this new medium.
"Jivox enables businesses to market to an audience that is spending more of their time online. Video advertising used to be an expensive and challenging proposition. This new offering from Jivox has greatly simplified and made online video advertising accessible to most businesses," said Vikas Sharan, CEO of Regalix, a leading online marketing and advertising firm and Jivox partner. "We are excited to be working with Jivox on behalf of our clients who are interested in taking advantage of this exciting new advertising format.”