I wanted to give my readers a glimpse about a company that I have been following for years with a great interest. This company is Kiosked, a Finnish startup company that has so far raised $12.7m in funding. The company was founded in 2010 by Micke Paqvalén and Antti Pasila, fellow countrymen of the author. Kiosked has gained a lot of attention and created buzz ever since the launch of their business. Furthermore, the company has been selected as one of the world’s best technology companies and has won many major advertising and design awards.
So what is it all about? Kiosked is a leading platform for enabling Smart Content. Kiosked turns any online content, images, videos and applications into interactive and viral storefronts. Kiosked monetizes content by providing the publishers with a proprietary platform through which they are able to turn content into unique targeted ad placements based on contextual and behavioral data. Marketers still pay for advertising for the publishers.
Let’s take a hypothetical example using a real case company of Kiosked: Say a jock is skimming through sports articles on rantsports.com, he wants to see the result of last night’s soccer game. He finds an article concerning the game, where is a picture of the team celebrating the goal Messi has just scored for Argentina. In the picture, he notices the sports outfit he has been trying to find for some time already. Instead of starting researching and browsing through different online retailer’s websites, he just moves his cursor on top of the picture on the article, makes a couple of clicks and the products are already on their way to his door. Much fast and convenient, isn’t it?
Content monetization enabled by Kiosked on rantsports.com.
Kiosked’s Display Ad solution on rantsports.com provides a new way to generate revenue for them and enables rantsports.com to serve their readers contextual services directly within the visual content. RantSports reaches the sports masses as a premiere destination for media consumption to the tune of 96+ million people with over 1.4+ billion page views in 2013. A rather valuable reference customer.
Kiosked’s solution caters to the affiliate merchant business model as it provides the purchase opportunities wherever people may be surfing. Their revenue model is transaction based, where in a brand pays a commission to the publishers whenever their site generates sales in the web store. The commission rate starts from 10%. Another option is to choose an interaction based pricing model, where the brand pays only for the engagements that the kiosks create.
Kiosked’d click-through rates average at 5.5%, which is significantly higher than traditional forms of online advertising. Furthermore, they have been very progressive in mobile. I believe Kiosked’s solution caters to better targeted marketing, and according to the Chairman of Kiosked (also the chair of Rovio Entertainment), brands and publishers look for new ways to engage with their customers in a way that is useful and non-intrusive. Though customer acquisition and selling the idea might take some time and resources, I strongly believe on Kiosked’s stride! Kiosked is definitely a company to benchmark!