Digital media technology company Komli Media recently launched a new remarketing demand side platform (RDSP) and has also announced key changes to its leadership team to align itself towards these areas. In October 2013, the company had raised $30 million in venture cap funding to invest in key technology areas and strengthen its position in Southeast Asia.
The basic ideas behind remarketing is to convert customers who have abandoned the transaction process midway or those who have expressed interest in a product online but left without making a purchase. Remarketing strategies aim to bring these customers back and finish a transaction, and convert site visitors to loyal customers.
Speaking to exchange4media on the launch of RDSP, Ashwin Puri, VP (Remarketing) , Komli Media said, “Right now, the concept is still in its infancy with about 5-10 per cent of total spend on remarketing, but we see remarketing spends for most performance advertisers growing significantly.”
Puri informed us that the RDSP platform will be launched across Southeast Asia by April this year. The company already has 20 clients using RDSP with around 15 in India, including online retailer, Myntra. Komli is concentrating on three verticals where it sees the most potential for the new platform - e-commerce websites, online travel players and digital media agencies.
When asked how Komli plans to compete against the likes of Facebook and Google, which have their own remarketing platforms in place for years, Puri said, “Existing platforms are ad driven. With RDSP, we have introduced a demand-side platform to give control to the client, which brings in additional transparency. Advertisers can either self-manage their campaigns or use our expertise.”
Video advertising has been a major component of Komli’s business till now. Interestingly, it seems the company does not quite see video fit into the new remarketing-oriented strategy. Puri said videos were still viewed by advertisers as a vehicle for promotion and brand building rather than performance-based advertising, though he admitted it was still a big part of their business.
Komli Media seems to betting on two major trends that have emerged in the digital space - the evolution of digital from ‘research online, buy offline’ to a ‘research online, buy online’ platform and the growing influence of social media in consumer buying behaviour. To align the organisation to this new strategy, Komli has announced some key management changes. Puri is now heading Komli’s RDSP business, in addition to its mobile business, while Matt Sutton is leading the social media business. Mukesh Agarwal will run product management across the company. To drive growth in its core regions, Komli has promoted Damien Lavin to handle Southeast Asia and Australia. Rakesh Malani has also expanded his responsibilities to run HR globally, in addition to his CFO role.
In December last year, Komli Media Co-founder Amar Goel had to take up reigns as CEO after Prashant Mehta quit due to personal reasons.