You wouldn’t think that Gen Zers and other social media natives would be interested in traditional marketing strategies on pizza boxes and coffee cups, but that’s exactly what a new ad marketplace for on-product campaigns is all about.
Two Gen Z businessmen who met in college founded the new platform Anvara with the goal of simplifying the media procurement process for suppliers and advertisers, from campaign administration to measuring impressions on tangible goods. Numerous media outlets, sports teams, and other brands have shown interest in joining the online marketplace or placed themselves on the waitlist in anticipation of the platform’s November launch.
According to founder Andrei Stenmark, Anvara provides “guerilla marketing” at scale on commonplace items and locations that people are already familiar with. He also sees it as a means of differentiating oneself from competitors on social media and in other digital advertising formats. The platform makes everything measurable and accessible, including branded ride shares, shipping boxes, paper towels, and signs for sporting venues. According to Stenmark, it functions similarly to existing ad exchanges for connected TV or commerce media.
READ MORE: Amazon Outlines Its Next $50 Billion Opportunity In Advertising
“Our platform will search through all the available listings — based on their impressions of the data we have there — and automatically connect them together to find the most ideal ones for your target audience if you want to [target] basketball-interested 18 to 22-year-olds in New York City,” Stenmark explained.
According to co-founder Nick Khalili, Anvara wants to become the “Airbnb for cool ads,” as many Gen Z young adults are “so overly stimulated by their phones” these days.
Competing calls to action may find it difficult to capture attention on social media, but Stenmark remarked, “not at the Yankee Stadium … or your favorite coffee shop.”
According to Anvara’s co-founders, the platform can assist advertisers in better capturing Gen Z’s attention with eye-catching items and experiential marketing by displaying advertisements in these less media-rich areas. Additionally, Anvara will measure foot traffic, demographics, and online engagement using data and AI to identify campaigns.
READ MORE: As Digital Advertising Evolves, Marketers Are Re-Evaluating Their DSPs
According to Mitch Modell, a former CEO of Modell’s Sporting Goods and current advisor to Anvara, firms can save time and money by using a platform to choose from available ad options and track returns in real-time. According to Modell, his business is the biggest retailer in the nation, spending millions of dollars on advertising each year and collaborating with major league teams like the Jets, Giants, and Knicks.
“It took our team months to plan back then, and there was no easy way to measure ROI or gauge sponsorship value,” said Modell. “I can finish it in a matter of minutes with Anvara. They track returns in real time and offer a clear snapshot of all available possibilities.
The companies on Anvara’s waitlist, which is now in pre-launch, include marketing agency like Spark Foundry, coffee shops, brands like Delta and Geico, and sports teams like the Houston Astros and San Jose Sharks. About 75 sports teams have joined the platform, according to its founders, and between 100 and 125 advertisers are interested in the inventory when it launches next month.
READ MORE: TikTok Joins The AI-Driven Advertising Pack, Competing With Meta For Ad Money
The timing of Anvara’s entrance in the OOH market is ideal. According to PlaceExchange, programmatic digital OOH spending is anticipated to surpass $1 billion this year, with outdoor continuing to be the largest venue type, accounting for 60% of the expenditure. Additionally, in the first half of 2024, the number of programmatic OOH screens increased by 17%, driven by sites in the transportation, retail, entertainment, and health sectors.
With 95% of its inventory being digital, OOH media company Kevani specializes on digital billboards and other advertising locations in Los Angeles, Baltimore, and New York City. Spotify, Pepsi, and Google are among Kevani’s customers. OOH ads, according to founder Kevin Bartanian, who is also a member of the Outdoor Advertising Association of America’s innovations committee, offer Gen Z consumers a non-forced experience that they are more open to because they can interact with the content in these settings whenever they choose.
“Gen Z is exhausted and seeking genuine, real-life experiences,” Bartanian stated. “A single message that is the same in every market is not what we want. We would like a statement that is unique to Los Angeles, or even one that is pertinent to local events within a mile radius. The things that truly speak to them are those.
Radiant TV, offering to elevate your entertainment game! Movies, TV series, exclusive interviews, music, and more—download now on various devices, including iPhones, Androids, smart TVs, Apple TV, Fire Stick, and more.
