Connect with us

Hi, what are you looking for?

Online Business Success

AdTech startup Tomi raises Seed funding to make real estate ads perform as well as ecommerce – TechCrunch


Industries like real estate, automotive, and financial services have long and offline sales cycles and digital advertising tends not to perform well in these areas. The conversion rates are low and because the real-world assets are offline the temptation of advertisers is to buy leads and clicks, which can inflate customer acquisition costs. People are browsing but they end up buying offline, basically.

A new startup, Tomi plans to address this issue by processing a user’s behavior on a company’s website (using a tracking pixel, combined with ad APIs and CRMs) to help companies reach customers more in the way an ecommerce business would.

It’s now raised a $1M seed round from investors including Begin Capital and Phystech Leadership Fund.

Founded by Konstantin Bayandin — a former senior director of digital marketing and technology at Compass and chief marketing officer at Ozon, ‘Russia’s Amazon’ — Tomi competes against similar AdTech companies such as Anytrack, Sociaro, Meetotis, Alytics and Postclick.

However, the difference, Bayandin says, is that Tomi “focuses on offline conversions and works with multiple ad channels, such as Facebook, Instagram and Google.”

Bayandin says: “Real-estate companies would love to leverage online ads in order to sell their inventory but it turns out to be too expensive and difficult. People like to browse but rarely convert and most of these transactions happen 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 towards conversions.”

The background to all this is that with Apple closing down IDFA, Google planning to remove third-party cookies from its Chrome browser, and the latest iOS 14.5 update allowing users opt out of “personalized ads”, the entire ad business is in flux, so new tools are going to be required. Bayandin says Tomi is part of this new wave of AdTech.

Advertisement. Scroll to continue reading.



Source link

Click to comment

Leave a Reply

Advertisement

Latest

Technology

This article is part of a VB special issue. Read the full series here: The metaverse – How close are we? Brendan Greene invented the...

Online Business Success

Starting your own ecommerce business can be very exciting, but how do you get started if you don’t … [+] have any money? getty...

Technology

Apple has released security updates to fix two zero-day vulnerabilities, with one publicly disclosed and the other exploited in the wild by attackers to...

Loan And Finance

ACORD, the standards-setting body for the global insurance industry, has kickstarted 2022 by announcing its updated board of directors, which consists of...

Social Media

After previewing it as a coming feature within its announcement of the expansion of remixable videos on the platform last week, Instagram has now...

Top Stories

Crypto investors are beginning to feel a sense of hope once more on Jan. 26 as the wider cryptocurrency market is seeing green and...

Loan And Finance

Nurse Yvette Laugere adjusts her N95 mask while working at a newly opened free COVID-19 testing site operated by United Memorial Medical Center in...

Technology

Source: Joseph Keller / iMore Apple has won more than a few awards for its Apple TV+ streaming service but its latest wins aren’t...

Advertisement

You May Also Like

SEO Guide

There are all kinds of pictures of the world on the internet, but to find one of these specific pictures that you want to...

SEO Guide

How to index website on Google? Do you want to drive more organic traffic to your new website? I am sure your answer is...

Blogging

In this post, I will discuss the top ten profitable blogging niches ideas for Adsense approval and high traffic. whether you use Blogger or...

SEO Guide

Want to rank in Google image search? Images that you use as a featured images when writing a post actually appear on Google Images...

Advertisement