Rezonence CEO, Prash Naidu, on his mission to help publishers sustainably monetise their digital content
When was Rezonence established as a company and in a nutshell what do you do?
Back in 2012 when I was working in finance, I noticed that publishers were in deep trouble because they didn’t have a sustainable monetisation model for digital. Rezonence started trading in Q4 2014 with a mission to help premium publishers monetise their digital content in a sustainable manner.
Rezonence created FreeWall® as an alternative and better monetisation model that took the best bits of the free model (large audience) and the paywall model (high revenue per user). FreeWall® harnesses engagement to build a new value proposition for publishers, their audience and advertisers. It works by granting users access to premium content in exchange for a branded engagement; in return the advertiser compensated the publisher.
Why are Rezonence’s methods successful compared to non-interactive adverts?
FreeWall® is bought and sold on a cost per engagement model which means this the publisher only gets paid when the user actually engages with a FreeWall®. This ensures that the advertiser gets 100% viewability, zero ad-blindness and guaranteed fraud-free.
The Q&A mechanic of FreeWall® also ensures that the user mentally repeats the message of the brand at the point of engagement and this ensures that the message is put into long-term memory by the brain resulting in much higher brand recall compared to passive banners.
FreeWall® also generates very high yields for publishers which means they only need to serve FreeWall® once a month or week to their users, ultimately giving their users a much better experience.
We can also use FreeWall® as a survey and it has turned out to be a very powerful tool for brands and publishers in their quest to better understand their audience. This is also done in a GDPR compliant way.
What interactions are you seeing in response to your adverts?
In terms of the stats, we see around half of users who view the FreeWall® engaging with it, this number is ever increasing as users get used to FreeWalls®. Currently, around 3% of readers who engage with a FreeWall® click through in the B2B/specialist environment.
Studies with neuroscience-based market research company NeuroInsight has shown that users respond 25% more positively to a FreeWall® vs an MPU. This is assumed to be down to the gamification of the unit, where the user feels as though they are receiving content as a ‘prize’ for answering a question correctly.
Is there anyone else in the market doing what Rezonence is doing and how do you differ to your competitors?
We believe we are an extremely unique company. Not only with our unit, but also our mission to save quality journalism. The closest competitor would be Google with Google Consumer Surveys, however the reader gets significantly less value out of the proposition (as they are asked to answer multiple questions vs our single question) and the user has not had a chance to engage with the content yet, as it appears at the start of the page. More importantly, GCS wasn’t created to with the same goal of saving premium publishers.
What clients have you previously worked with over the last 12 months and have there been any key successes?
We work with a lot of the biggest publishers in the UK such as Trinity Mirror, ESI Media, Bauer, Hearst and of course IDG to name a few.
We also work with brands like Sky, Unilever, Fitbit, Vodafone, PCWorld, Lloyds Banking Group, Amex, VISA, and Fox… We’re in pretty good company!
One of our key successes was helping Sky build excitement for the launch of their new dedicated sports channels. Users were asked which channel they were most excited for, before getting a bespoke video relating to the chosen answer. Their answer was then fed into the Sky DMP to gather information on their customers and create segments. Sky were extremely happy with the results, and in early February co-hosted an event with Amir Malik (Accenture) discussing the power of data collection to fuel a DMP using Rezonence.
What are the benefits to both publishers and advertisers?
To keep it simple; publishers benefit from a high yielding but low frequency (once per user per month) ad model which helps keep their site cleaner and allows them to continue to produce quality content. Advertisers receive a much higher ROI, as they are guaranteed to receive a genuine human interaction in a premium, brand safe environment.
How did the partnership with IDG come about?
I was introduced to Luc Borg by a mutual acquaintance and we were fortunate that Luc instantly got what FreeWall® was about and how it could be beneficial for IDG. I have always been open to helping Luc with his bespoke requests, while Luc was also always willing to give our technology a test. We hope the relationship between Rezonence and IDG will continue to go from strength to strength.
With GDPR coming into play from May is this going to have an effect on Rezonence and the way you collect data?
No, we believe that the GDPR is a good thing for the advertising industry. We do not hold any personal information, and with the nature of our unit it’s easy to clearly explain to the user who would like to collect their data and give an option to opt out.
What can Rezonence look forward to over the next 12 months?
The next 12 months are looking extremely exciting for Rezonence, with our international expansion continuing, high growth and many new members of the team, as well as lots of new brands on the verge of trialling with us! Watch this space…
How can advertisers get involved? [contact the IDG team etc.]
Contact IDG sales team for a joint proposition, combining audience and context with FreeWall® experience and knowledge. Also follow us on Twitter and LinkedIn (@RezonenceHQ, linkedin.com/company/rezonence) for business updates.