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Industries such as real estate, autos and financial services have long and offline sales cycles and digital advertising typically does not perform well in these areas. Conversion rates are low, and because the real assets are offline, the temptation of advertisers to buy leads and clicks can drive up customer acquisition costs. People browse, but ultimately buy offline.
A fresh start, tomic plans to address this issue by processing user behavior on a company’s website (using a tracking pixel, in conjunction with advertising APIs and CRMs) to help businesses reach customers more like an e-commerce business would do.
It has now raised a $1 million seed round from investors including Begin Capital and Phystech Leadership Fund.
Founded by Konstantin Bayandin, former senior director of digital marketing and technology at Compass and chief marketing officer at Ozon, Russia’s Amazon Tomi competes with similar AdTech companies such as Anytrack, Sociaro, Meetotis, Alytics and Postclick.
However, the difference, says Bayandin, is that Tomi “focuses on offline conversions and works with multiple advertising channels, such as Facebook, Instagram and Google.”
Bayandin says: “Real estate companies would like to use online advertising to sell their inventory, but it is proving too expensive and difficult. People like to browse but rarely convert and most of these transactions take place offline. So real estate clients don’t know how to optimize for their real buyers. Tomi uses machine learning to analyze the way real buyers browse the website and optimize ad campaigns for conversions.
The background to all this is that now that Apple is closing IDFA, Google is planning to remove third-party cookies from its Chrome browser, and the latest iOS 14.5 update that allows users to opt out of personalized ads, the whole advertising business is in flux, so new tools will be needed. Bayandin says Tomi is part of this new wave of AdTech.
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