Nextech Successfully Launches its Ad Network Featuring Augmented Reality Capabilities on its Virtual Events Properties
Business Wire | March 02, 2021
Nextech AR Solutions (“Nextech'' or the “Company”) (OTCQB: NEXCF) (NEO: NTAR.NE) (CSE: NTAR) (FSE: N29), a diversified leading provider of virtual and augmented reality (AR) experience technologies and services for eCommerce, education, advertising, conferences, and events, is pleased to announce the launch of its Ad Network. The Ad Network generated very positive results at recently held virtual and hybrid events for Repticon who puts on 100 events annually and the North Carolina Association of Zoning Officials (NCAZO) Annual Conference. The company is utilizing its owned and operated virtual event platforms audience which hosts thousands of specialized events allowing for targeted ads similar to Facebook; serving up high value ads based on people's interests, behaviors, location, and demographics.
With the launch of the AR Ad Network, Nextech is now uniquely positioned as an end-to-end technology solutions provider for its enterprise customers who include: Amazon, Viacom, Johnson and Johnson, Bell Canada, UNESCO, Dell Technologies, Luxottica, Vulcan Inc, TEDx, Grundfos, and Arch Insurance and others.
Nextech ads are built to be native, immersive, and engaging, appealing to both global brands and local businesses with maximum ROI from pre-event targeting, during event and post event. Conversion rates for augmented reality advertising has been reported as high as 25% which is 10X higher than a typical ad as it’s much more immersive than standard digital advertising, it's interactive and evokes emotion. The price for an AR ad varies depending on its quality, while a simple AR ad can cost around $5,000 to develop, a sophisticated AR campaign with eye-catching graphics could cost $100,000. Because the company will not only run the ads but also create the AR ad experience. The Ad Network creates a significant new engine of growth for Nextech AR.
The Ad Network enhances Nextech’s analytics capabilities to gather big data of online and offline attendees behaviour. By serving up highly customized and relevant ads that are non-intrusive and feel organic to the virtual events, the company can easily track and measure purchase data, demonstrating the full impact of these advertising programs. The most valuable and highest-performing set of impressions can be found at virtual and hybrid events attended by individuals from targeted industry, trade, and business segments. Nextech has the ability to reach the right customers with the right ads, driving higher click-through and conversion rates. For instance, at a dental convention Colgate would have a captive audience or at a Repticon event a captive audience of reptile enthusiasts could be reached by Petco. Advertisers and event sponsors are highly interested and continue investing in Nextech’s platform because it provides a closed loop attribution and a clean line of sight into high purchasing power and decision-making individuals, making it easy to track higher ROI.
Nextech’s private marketplace of targeted audiences in its virtual and hybrid experience platform are a unique attraction for marketers and advertisers who otherwise would find it difficult to reach these groups online and offline. To that end, Nextech is excited and ready to run thousands of hybrid, virtual and in-person events on its virtual and hybrid experience platform in 2021 and beyond. Many of which will utilize the Ad Network, creating an enormous opportunity to generate revenue for the Company’s customers, ecosystem, and the Company itself, driving shareholder value.