Lotame releases Time Spent technology for social networks
Lotame has released its Time Spent technology, which is part of its Crowd Control advertising platform. This technology allows companies to track how much time consumers spend in front of and engaged with advertisements on social networking sites such as Bebo, Flixter, Meez and Fotolog.
“The average user logs in 2.3 times to social networking sites and generates more than 40 page views per day,” said Andy Monfried, founder and CEO of Lotame. “ So if you sell social network ads in the same way you sell contextual media it will never work as well.”
Lotame's Exposure Tracker technology can count the seconds that a user spends viewing an ad without taking into consideration the time when the ad is obscured, minimized or scrolled out of view. This way, advertisers can know exactly which and for how long consumers on social networks are looking at the advertisement.
Monfried said the company is focusing on mid-tier social networks.
“Today's biggest portals are Facebook and MySpace, but what about the rest of social media?” he asked.
Mindshare agency has signed on to use the technology for a campaign with a national mobile telecommunications network, which declined to be named.
“This technology provides a high level of efficiency and confidence that [the advertiser] is going to reach the right consumer at the right time and get the best ROI,” Monfried said. “For direct response advertisers it's a grand slam.”