Online local media company Local.com has released a rich media ad platform to incorporate dynamic, in-store product inventory availability and current pricing data for products sold by local retailers.
Rovion, a division of Local.com, has integrated the solution into the Rovion Ad Management Platform (RAMP). RAMP is initially being offered on a limited basis to select multi-channel retailers, consumer brands, agencies and publishers and will be rolled out later this year.
The Web-based RAMP platform allows clients to create, serve and track dynamic, original rich media ad units that incorporate local product and shopping data, without time-consuming and complex coding requirements. It also includes dynamic information on pricing, retailer sales, product details, store locations and near-real time in-stock availability powered by Krillion.
Krillion’s localized shopping data adds local relevance at the product
level, increasing the targeting capabilities of rich media ads so that
national campaigns can reach Web-influenced local shoppers across the
U.S. Today, the growing Krillion local search index includes more than
1,200 brands from more than 60,000 retail locations.
To date, more than 100 million impressions have been served by RAMP. The platform generates revenue on a CPM basis when participating agencies’, brands’ and publishers’ ads are served.
According to Borrell Associates, local rich media display advertising now represents approximately 10 percent of the total local online advertising landscape. Rich media display advertising is expected to grow to $5.1 billion, or 37 percent of all banner advertising, by 2016.
According to Forrester Research, nearly half of retail sales are Web-influenced, and these web-influenced retail sales are expected to reach $1.2 trillion by the end of 2012.