Your product is increasing the possibility of conversion by changing a brand marketing asset into a lower-funnel asset.
Harris: That’s the bigger idea. Video on the internet does not need to be an awareness tool. You have the opportunity to actually have consideration and preference, and to go down that journey in the content. What you’re describing is exactly the whole point of this product. If you’re using it [as] an awareness channel, you’re missing the point of what the internet is.
We let people go through this journey and we drop you off at the purchase, on that website, on the particular product page, etc. In the future, [the purchase] will be in the experience as well.
So you could buy live, via the video?
Yes.
There’s so many different applications. For independent creators, for example, who get affiliate compensation through their videos. Is that something that you’re focused on as well? Who is your target audience?
Right now in this early stage, we’re starting to focus more on advertising, especially on retail media. Use cases that involve access to data allow us to do even more relevant, targeted experiences. So let me show you what that means.
[Harris played a video featuring two sneakers, one black and one red. Clicking on the red shoe generated its price and a link to purchase.]None of this is in the video. The video is communicating with the database that’s telling it what to show. … The content is in real time communicating with the back end, with your CRM, with external events, browser history, location, etc. Prices modify in real time. This is what Adventr is about. It’s not about interactive video.
I get it. ‘Choose your own adventure.‘
That was cool a while ago, 10 years ago when we started. But now, how do we make video more intelligent? This is what we’re pushing—this concept of smart video. Your fridge, your car, all these things are smart and connected, but why isn’t your video?
Obviously technological limitations are part of the reason why not. Technology clearly is there though. So why hasn’t anyone done this? Give me some sense of what’s holding the market back.
There’s been a disconnect of the technology, and creating advanced enough technology with creatives and making compelling experiences. They’re often disconnected forces.
The interactive units are out in the world. We work with lots of great partners like Weber Shandwick [and] Kin + Carta. We work directly with a bunch of brands too: 23andMe, Autodesk, Unicef [and] AWS.
So what does the revenue model look like?
We’re a SaaS platform, so we have a monthly fee. If there’s creative services, then that’s on top of that. If it’s ad-distributed content, then we participate on a CPM basis.
We work with both advertising agencies and media agencies. A lot of times you can publish a unit and then you can traffic it in Google Display Video 360, Xandr, etc. But [clients] don’t [always] want to take that step.
