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Advertising Innovators: NextWidgets
The latest US Market Entry CAMPer at swissnex San Francisco promises next-generation solutions for online advertising. The Zurich-based start-up NextWidgets, led by CEO and Founder Alex Savic, helps bring online stores to customers who are increasingly found on social networks.
NextWidgets is leading the way forward all over the online space by offering expandable widgets that publishers can embed right onto their websites, for example, or which merchants can distribute through their own advertising networks. Beyond e-commerce, there’s now F-commerce (F for “Facebook”). NextWidgets enables merchants to sell products on the social network through a tab on the fan page or directly inside the status update. And next up for NextWidgets: video and mobile.
Savic, who studied business at King’s College London and got his start in e-Health, explains that the core of the NextWidgets technology is based on affiliation. Standard affiliation models, however, can mean working through third parties and constantly updating your display advertising, which is costly and time-consuming.
The NextWidgets technology makes much of this automatic. Display advertising is generated from product feeds dynamically, saving time and cost for merchants. The ads created are more interesting because they function like expandable, mini applications and are more engaging for the consumer, ultimately returning better sales results.
This is all very powerful. But video, says Savic, is the future. “We want to enable video advertising to have e-commerce overlays… so that basically when someone is watching a video and they see a product that’s interesting to them they can transact on that product right away without having to jump to some other website.”
As for the CAMP at swissnex San Francisco, it was a chance Savic had to take. “It seemed like an amazing opportunity to expand our business in the US,” he says. “We’re really excited about all the opportunities that swissnex has been able to provide us so far.”
NextWidgets has a few main goals during their stay: expand their client base (they are already working with T-mobile and other major online advertisers), look for technology partners, and meet other start-ups creating innovative technology.
Welcome, NextWidgets. You’ve come to the right place.