Clideo says it can help marketers reach consumers in a smarter way, by making videos shoppable via an "interactive overlay."
CEO Michele Mazzaro (who previously worked as an executive at Ki Group and in mergers and acquisitions at KPMG Italy) said these videos are meant to address a larger issue: "Businesses are failing in communicating on digital media. I don’t remember the last time I clicked on a banner, pre-roll or mid-roll ad. I hate it as a consumer."
To address this, Mazzaro and his co-founders Nitzan Mayer-Wolf and Andrea Iriondo have created what Mazzaro described as a way to "turn any video into a discovery experience." They're presenting the product today at Disrupt Berlin as part of our Startup Battlefield.
Although the videos are described as interactive, the Clideo team isn't trying to power the kind of branching narratives popularized by startups like Eko (not to mention Netflix's "Black Mirror" special "Bandersnatch"), but rather taking a standard video and adding new capabilities around the products featured — the ability to buy something, save it to a wishlist or share it on social media.
Mazzaro argued that these features give marketers crucial data about which audiences are engaging with which products.
"Stop throwing your video budgets into the garbage and undersatnad why your consumers are engaging with you," he said.
Clideo videos require their own video player, so they can't be played directly on YouTube or social media. However, Mazzaro noted that they can be promoted on Facebook, Twitter and elsewhere via links.
And despite this limitation, Madrid-based Clideo has already been tested by e-commerce websites, including Spain's Modalia.com, with conversion rates as high as 33%.
Interactive and/or shoppable video isn't a new idea, but Mazzaro said most existing solutions either come from creative agencies working with a limited number of luxury brands, or video marketing platforms that include very limited interactive capabilities.
Mazzaro contrasted this with Clideo, which he said is creating "the do-it-yourself solution without compromising creativity." In fact, he said an interactive video can be created in as little as five minutes.
He also argued that Clideo is differentiated by its business model — where, in addition to a monthly subscription, customers pay an additional fee tied directly to Clideo's results driving viewers to checkout pages.
"We're the only ones to align our goals to our customers," Mazzaro said.
Clideo has been bootstrapped thus far. Mazzaro said that the product is available globally, though early customers are likely to be based in Spain, Italy and Israel.