Advertising entrepreneurs explored “next generation ad and product models” while paying homage to “game changer” PPC links for paving the way for “performance” advertising.
Gus Warren, VP, Spot Runner
Spot Runner is “building a new type of ad agency,” Warren said.
According to Spot Runner, it is the “first Internet-based ad agency that makes it easy and affordable for local businesses to advertise on TV“:
a complete solution for television advertising—commercial production, media planning and media buying—in a single turn-key, self-service system. We allow the customer complete control of their ad, media plan, and budget. The entire process, which traditionally takes months and hundreds of thousands of dollars, now takes just days at a fraction of the cost.
And TV is just the beginning. Warren indicated that TV, local cable and local broadcast, is but the first media platform on Spot Runner’s agenda: Up next, the Spot Runner platform applied to radio advertising in early 2007.
Dave Newmark, CEO, Bid4Spots
Innovation is already underway in radio advertising: Bid4Spots hosts weekly online auctions of radio spots that are “fast and easy and both the buyers and sellers win,” according to Bid4Spots:
advertisers and radio stations take part in reverse auctions. Advertisers can now gain affordable direct response radio advertising rates by buying last-minute spots at discounted rates and, at the same time, radio stations can increase their revenue by selling leftover inventory.
Newmark underscored the power of Bid4Spots’ “one buyer, multiple potential sellers” format, suggesting its reverse auction model can be used to “optimize all forms of media.”
Marc Barach, CMO, Ingenio
Ingenio has been innovating with the telephone since 1999, to connect online consumers with businesses by phone:
Pay-for-performance advertising system that drives targeted phone call leads to advertisers via search and directory sites.
Barach put forth that Ingenio’s direct-response mechanism is appealing to a business that wants to “get a lead, to get an edge over competition.”
Early adopters are embracing pay per call because they are ‘buying on the basis of response,” Barach said.
I put forth to the panel, however, that the holy “pay for performance “ grail for businesses is not a “lead,” it is a “sale.” I asked if a “pay for ’sales’ performance” mechanism is in the works, other than coupons.
None was offered. Barach indicated, however, that while no “industry solution” exists, a “qualified lead” is a valid proxy that is acceptable to businesses.
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