Accoona Starts Exchange Place Bid System
Artificial intelligence-based search engine Accoona Corp. launched Exchange Place, an online advertising platform and pay-per-lead bidding system.
Exchange Place resembles a cost-per-action solution.
"The strategy behind this launch is to provide an online pay-per-lead bidding system and advertising platform," said Jane Linder, general manager and vice president of strategic development of Accoona's Exchange Place, Jersey City, NJ, "and to deliver qualified and verified leads in real time for all types of goods and services from local to national markets."
Exchange Place is an interactive cross-industry marketplace where prescreened buyers and sellers are matched in real time. Here's how it works:
Advertisers sign up for free at www.exchangeplace.net/seller to control lead segmentation criteria, bids and budgets. Consumers share information online or over the telephone through a questionnaire and receive targeted product and service offers, comparison pricing, direct sales access and other services.
Sellers or advertisers choose a specific consumer and geographic segmentation, such as life insurance. Then advertisers set lead criteria, highest amounts they want to pay per lead and total daily and monthly budget caps. These criteria make it easy for advertisers to be matched with qualified buyers in real time when they submit one of the top four bids.
After that, sellers can manage their individual campaigns online through the Exchange Place self-service console. They also can put ads on the confirmation page, which buyers see after they fill out the questionnaire.
Exchange Place cites Interactive Advertising Bureau figures that claim the U.S. online ad market will reach $25.5 billion by 2010, up from $12.5 billion in 2005. Advertisers are continuing to move their budgets online, especially into search advertising, which is expected to soar to $11.6 billion by 2010.
"The challenges we are trying to address with this launch are the rising demands for transparency, accountability and increased ROI," Ms. Linder said.