Digital advertising for real estate has not served the industry over the last few years. The reasons for this are many and complex, but the biggest rub is that conversion rates are low, and they cost a lot. As a result, most agencies simply try to buy clicks, elevating the cost of customer acquisition. And since sales occur in the brick and mortar world. A new startup called Tomi.ai aims to correct this.
With Apple closing down IDFA, Google plans to remove third-party cookies from Chrome, and iOS 14.5 allowing users to opt-out of “personalized ads,” the online ad scene is now in disarray. Tomi.ai, which just received a $1 million seed round of funding, processes user behavior on an agency website to help agents reach potential buyers in the same way e-commerce businesses would. Using a tracking pixel, in combination with ad APIs and CRMs, Tomi creates a predictive targeting capability that has not previously existed in the space.
Konstantin Bayandin founded the New York-based startup. He is a former senior director of digital marketing and technology at Compass and chief marketing officer at Ozon (Russia’s Amazon). As to Tomi’s differentiation from other similar services, Bayandin told TechCrunch”s Bike Butcher that:
“[Tomi] focuses on offline conversions and works with multiple ad channels, such as Facebook, Instagram, and Google.”
Bayandin expressed how Tomi’s machine learning analyzes how genuine buyers browse specific sites to optimize digital advertising to those prospects further. The service is also applicable for SaaS, fintech, edtech, and automotive businesses. Smart bidding is the key to success on Facebook and Instagram anyhow, so any tool that can magnify the capability is a big plus for sales and marketing departments.
Another positive for Tomi is that clients pay only for incremental customer lifetime value and business outcomes. As a result, users can use audiences optimized for expected lifetime value and target new visitors with high intent. According to VentureBeat, the system runs on high-load, Google Cloud-powered instance that processes 30 million hits per day.
One of the big plusses of Facebook ads is the capability to create unique audiences of potential customers. So, if Tomi can narrow the marketing funnel, the million invested by Begin Capital and Phystech Leadership Fund will be well spent. Bayandin told VentureBeat his company’s revenue had doubled since launch a year ago. He says the plans are to focus on growth and further product development now.
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