Jellyfish has recently unveiled a beta version of jellyfish.com which is looking to revolutionize advertising models. While major internet properties focus on advertisers and publishers, Jellyfish is looking to reward consumers as well.
Jellyfish, which is a comparison shopping engine, is hoping their new advertising model will reduce prices by sharing a percentage of the advertising revenue that is generated by consumers’ activity on the website.
While the site is still in its infancy, it has debuted with over 5 million products across a variety of categories, with plans to expand and grow rapidly. It is also focused on increasing the number of retailers on the site.
The website aims to match up buyers and sellers in a patent-pending online retail environment. As advertisers increase their ranking by offering better discounts/cash back to consumers, Jellyfish suggests at least half of the advertising revenue will be shared with website shoppers.
“This system allows consumers to turn the tables on advertising, and make it work directly for them when they are shopping online.” stated Jellyfish President, Mark McGuire. “…Instead of Price per Click (PPC), we call it Value per Action (VPA).”
With a formal launch of jellyfish.com in autumn, it will be interesting to see whether this consumer driven model works, and whether advertisers prefer this to existing paid search advertising models. Like the recently announced eBay model, and Google’s AdSense testing, it is driven by action and not clicks which is sure to be better for ROI conscious marketers.
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