The advertising industry’s dirty secret is that most ads don’t work. Over $500B in marketing spending is wasted annually as a result. This is because the incentives for ad networks (i.e. exploit advertisers) are not aligned with the incentives of the advertisers (i.e. sell products). The ad industry trick is, if there’s no accountability for an ad’s effectiveness then there’s no reason to doubt whether the ads are working. So, spend more. Yet, even Google admits that 56% of ads aren’t even seen by humans.
This is the modern day “Emperor’s Clothes” story, playing out every day across the internet.
Consumers hate ads, too. And they should. They invade consumer’s privacy, interrupt them, annoy them and lower the user experience of the internet. It’s why consumers block ads, avoid them and push for regulations against their use. Again, it’s an issue of incentives. If advertisers created ads that helped shoppers and delivered them only when they were helpful, not disruptive, the industry would prosper and bad actors in the industry would fail.
That’s why we created SYNQY.
We thought that, if we aligned the incentives where the advertiser’s, publisher’s and consumer’s interests were aligned, everyone could win. It starts with the consumer. If we give in-market shoppers what they actually need, when they actually need it, in a place they wished to see it, they’d buy more. To do this, we needed to change where ads appear from news sites to retail sites and from banner ads to next to the relevant product. We needed to track ad effectiveness to actual purchases. And we needed to align the incentives of the advertiser with the incentives of the publisher (in this case the retailer). Everything is based upon happy shoppers buying more. If we did that, everyone would win.
That would be a better world, one that would use the naked truth to keep everyone honest and drive out the bad actors. A world with better informed shoppers, who enjoy the internet experience and buy more. No more Emperor’s Clothes, just a better way to influence and delight shoppers.
SYNQY’s SaaS-based retail media platform enables retailers to increase their sales and monetize existing e-commerce real estate using a new category of retail media, Enhanced Product Listings. These listings are delivered in a way that informs and delights consumers so shoppers buy more, and come back more often.
SYNQY’s retail media network has delivered enhanced listings to millions of shoppers and has been used at over 2,500 retail locations.
Welcome to a world where useful content, funded through a guaranteed ROI, provides retailer and vendor alignment, while also improving the shopper experience.
Our team is a group of experienced people who are using the power of technology to remove the obstacles to improving, rather than harming, the shopper experience. Our rally cry is “frictionless” – designing simple, but impactful tools that anyone can use to engage in a shopper friendly way at all of the buy-ready moments.
Discover more about the company and the team: