Personalized video (PV) marketing company Idomoo recently secured $18 million in a funding round led by Target Global and Disruptive. The company looks to use the fresh capital to improve their self-service platform which allows users to create dynamic videos. Idomoo’s cloud-based PV service provides a full suite of tools that enable marketers to create and launch PV campaigns with ease.
“This is certainly an exciting time for Idomoo, especially now, with the demand for videos and personalized content increasing dramatically. The investment will allow us to further enhance our platform and help brands launch and personalized video campaigns,” Idomoo co-founder and CEO Yaron Kalish shared.
The influx of investments in platforms like Idomoo should excite digital marketers. Video marketing is on the rise. Idomoo gives marketers the ability to personalize videos and target specific users, resulting in higher engagement and better conversions.
Marketers Face New Challenges
Customer engagement has become crucial to any business. With how ubiquitous the internet and online content have become, the plethora of marketing channels that can be used to engage customers should have made high engagement rates easy to achieve.
However, customer engagement remains to be one of the biggest challenges digital marketers face. The average human attention span has been decreasing over the years and the increase in use of the internet mobile devices is largely to blame. In 2018, the average human attention span is estimated to last only 8 seconds. Brands have little choice but to compete for this fleeting moment to get their messages across. As such, marketers are hard-pressed more than ever to find ways to capture their audience members’ attention.
Marketers can also struggle using conventional text-based content and banner ads to attract and maintain attention. The saturation of ads across digital channels has desensitized users. Most users are likely to just gloss over and ignore ads that don’t exhibit optimal practices and strategies.
Among the ways marketers are trying to address this issue is through personalization. Consumers now prefer to engage with brands that offer personalized content. They are likely to take interest in seeing relevant products and brands in their feeds or interact with interfaces that appear and behave based on their preferences.
Some 75% of consumers prefer to buy from a retailer that recognizes their name, knows their purchase history, or recommends products based on that same history. In addition, more than 50% of consumers are reportedly willing to share their personal data in order to receive product recommendations and have personalized shopping experiences.
Aside from personalized content, the demand for video content has also been increasing. Consumers are estimated to spend 84 minutes a day watching online videos. What’s more, 68% of consumers say that they prefer short video content to text when receiving marketing information. Because of this, businesses are already including more video-based campaigns in their marketing efforts.
PV comes as a convergence of these two trends. By serving users video content that are personalized to their tastes and interests, marketers would be able to better communicate their messages and promote their brands.
Idomoo Looks to Bring Value
Even though PV is still in its relative infancy, the technology has already allowed early adopters to launch successful campaigns. For example, Delta Air Lines Inc. (NYSE:DAL) has used Idomoo’s platform to manage a PV campaign for its SkyMiles Medallion loyalty program. Delta created unique videos for its program members that were sharable on social media. The campaign effectively turned members to be Delta’s evangelists which resulted in the company being able to attract and acquire more customers.
Idomoo looks to deliver similar successes to its users. Users only need to log on to Idomoo’s platform and they will be able to create and customize their PV campaigns readily. Idomoo provides an Adobe After Effects plugin that allows motion artists to define video areas for personalization. From there, users only need to use Idomoos’ drag-and-drop interface online to configure how the resulting videos will render.
Idomoo can automatically use customer data in order to generate videos. The platform’s engine is also able to cut the rendering time of these videos and produce high quality outputs quickly. The videos can then be sent to users at scale or be deployed to customer systems and social media.
Brands Get a Boost
PV appears poised to provide the impact that conventional ads and marketing collaterals lack in order to effectively engage today’s audiences. Platforms like Idomoo lower the barriers for brands and marketers to leverage PV for their campaigns and customer engagement efforts.
“Consumers are now gravitating towards video content. So, it’s important for brands to be ready and establish their presence in these new channels. Our platform makes it easy for marketers to not only establish a strong video presence but also give their videos the necessary impact to capture consumers’ attention. We hope to give digital marketers a major boost and enable them to promote their brands capably,” Kalish concluded.