Nextech Successfully Launches Its Ad Network Featuring Augmented Reality Capabilities On Its Virtual Events Properties, Delivering Millions Of Impressions
- The successful launch of Nextech’s Ad Network positions the Company to become a power player in the Augmented Reality ad ecosystem
- The new ad network delivered millions of impactful ad impressions through its map Dynamics platform during recent virtual and in-person events
- According to ARtillery Intelligence, the AR advertising and commerce industry is projected to grow to $2.46 billion by 2022
- The company sees meaningful revenue potential from the ad network in 2021 and beyond
Nextech AR Solutions (“Nextech” or the “Company”), a diversified leading provider of virtual and augmented reality (AR) experience technologies and services for eCommerce, education, advertising, conferences, and events, is pleased to announce the launch of its Ad Network. The Ad Network generated very positive results at recently held virtual and hybrid events for Repticon who puts on 100 events annually and the North Carolina Association of Zoning Officials (NCAZO) Annual Conference. The company is utilizing its owned and operated virtual event platforms audience which hosts thousands of specialized events allowing for targeted ads similar to Facebook; serving up high value ads based on people’s interests, behaviors, location, and demographics.
Marketing Technology News: How to Start Creating the Change Advertising Needs
“We’re thrilled to see such impressive, early results from our Ad Network piloted across two unique events. We’re proud to have built a platform which increases engagement, interactive experiences and learning opportunities for sponsors and attendees of both hybrid and fully-virtual events.”
With the launch of the AR Ad Network, Nextech is now uniquely positioned as an end-to-end technology solutions provider for its enterprise customers who include: Amazon, Viacom, Johnson and Johnson, Bell Canada, UNESCO, Dell Technologies, Luxottica, Vulcan Inc, TEDx, Grundfos, and Arch Insurance and others.
Nextech ads are built to be native, immersive, and engaging, appealing to both global brands and local businesses with maximum ROI from pre-event targeting, during event and post event. Conversion rates for augmented reality advertising has been reported as high as 25% which is 10X higher than a typical ad as it’s much more immersive than standard digital advertising, it’s interactive and evokes emotion. The price for an AR ad varies depending on its quality, while a simple AR ad can cost around $5,000 to develop, a sophisticated AR campaign with eye-catching graphics could cost $100,000. Because the company will not only run the ads but also create the AR ad experience. The Ad Network creates a significant new engine of growth for Nextech AR.
The Ad Network enhances Nextech’s analytics capabilities to gather big data of online and offline attendees behaviour. By serving up highly customized and relevant ads that are non-intrusive and feel organic to the virtual events, the company can easily track and measure purchase data, demonstrating the full impact of these advertising programs. The most valuable and highest-performing set of impressions can be found at virtual and hybrid events attended by individuals from targeted industry, trade, and business segments. Nextech has the ability to reach the right customers with the right ads, driving higher click-through and conversion rates. For instance, at a dental convention Colgate would have a captive audience or at a Repticon event a captive audience of reptile enthusiasts could be reached by Petco. Advertisers and event sponsors are highly interested and continue investing in Nextech’s platform because it provides a closed loop attribution and a clean line of sight into high purchasing power and decision-making individuals, making it easy to track higher ROI.
Nextech’s private marketplace of targeted audiences in its virtual and hybrid experience platform are a unique attraction for marketers and advertisers who otherwise would find it difficult to reach these groups online and offline. To that end, Nextech is excited and ready to run thousands of hybrid, virtual and in-person events on its virtual and hybrid experience platform in 2021 and beyond. Many of which will utilize the Ad Network, creating an enormous opportunity to generate revenue for the Company’s customers, ecosystem, and the Company itself, driving shareholder value.
Marketing Technology News: Contentstack Partners With Uniform To Deliver Lightning Fast Personalized Sites
Troy Powell, Treasurer of North Carolina Association of Zoning Officials, comments:
“As an event organizer, participating in this program was a seamless experience. The sponsored ads were curated for our event and integrated well within the event platform. We’re thrilled with the results, not only for our organization but for our sponsors and attendees who look to our event to make meaningful, dynamic connections through products and services.”
Billy Healy, Chief Operating Officer of Repticon, comments:
“As the organizer of a physical event, I leveraged the features of Nextech’s hybrid event platform to enable Repticon’s attendees to navigate the physical space. The sponsored ads were seamless and enhanced the user experience on the mobile app. Sponsors could highlight their booth locations and drive participants to visit them. Further, the entire setup and interface was very easy-to-navigate for me as an organizer, which is always a plus.”
The launch of the Nextech AR Ad Network after the successful pilot phase comes at a time when momentum for AR-powered advertising is on the rise. Snap, which recently forecast sustained revenue growth of 50% for several years, is looking toexpand its use of augmented reality as an advertising tool. Further, according to ARtillery Intelligence, the AR advertising and commerce industry is projected to grow to $2.46 billion by 2022
Hareesh Achi, President of the Advertising at Nextech AR, comments:
“We’re thrilled to see such impressive, early results from our Ad Network piloted across two unique events. We’re proud to have built a platform which increases engagement, interactive experiences and learning opportunities for sponsors and attendees of both hybrid and fully-virtual events.” He continues, “With Repticon and NCAZO, we’ve showcased that our ad network can drive results for any type of event, from virtual to hybrid to in-person. Trade shows, consumer expos and professional conferences are the future of targeted, impactful advertising and offer incredibly cost-effective investment to brands. Based on the success of these initial pilot events and customer feedback, Nextech is well-positioned to be a leader in this space.”
Nextech CEO, Evan Gappelberg comments:
“Our strategy is to take our augmented reality tech stack and evolve them into our virtual and hybrid events platforms by first building advertising tools for ourselves but then building a self-serve ad tool for everyone and by providing a distribution channel to a captive audience on our platforms.” He continues, “With today’s announcement of the successful market launch of our Ad Network, which is capable of 2D, 3D or AR ads, we’ve laid a foundation for this to happen. As we push forward, we see our ads expanding more broadly across all our platforms and embedded into all our apps creating another significant source of revenue for our company as we position ourselves for exponential growth in 2021 and beyond.”
Nextech’s platforms have serviced dozens of Fortune 500 businesses and large organizations such as Amazon, Viacom, Johnson and Johnson, Bell Canada, UNESCO, Dell Technologies, Luxottica, Vulcan Inc ,TEDx, Grundfos, and Arch Insurance. Security is a core feature of the company which reported a breakthrough in security with the help of Fastly, an edge computing company. Bringing token authentication to the edge greatly enhances security and performance, which is essential for Nextech to collaborate with additional Fortune 500 companies in the near future.
Marketing Technology News: Domo Invests For Growth, Welcoming New Executives To Lead Company’s Demand Engines