Adsmart, an interactive advertising network in Andover, Mass., has launched a business-to-business online network to handle the online advertising needs of this rapidly growing market sector. The service is a natural extension of Adsmart›s business-to-consumer network of 375 sites.
Annual online b-to-b ad spending is expected to reach $2.6 billion in 2002, up from $290 million in 1998; b-to-b e-commerce likely will soar from $109 million in 1998 to $1.3 trillion in 2003, according to Cambridge, Mass.-based Forrester Research.
˜Setting up the network now reflects the fact that the business-to-business marketplace is expanding, and those that understand this and address it first will likely place themselves in a position for long-term leadership,” said John Federman, ceo of Adsmart. ˜That›s certainly what we hope the creation of our network signals.”
Adsmart, one of the first major interactive advertising networks to create a b-to-b network, will be able to sign on sites in vertical categories, such as medical, legal and insurance, for which there does not seem to be a market. Late last month, New York-based 24/7 Media launched a small business channel for the b-to-b market.
˜For a long time, it wasn›t profitable to think about representing sites beyond the top tier, in part because the impressions weren›t there and the opportunities to monetize on the impressions were not there,” said Federman.
Adsmart is recruiting sites and thus far has signed contracts with several, including findforum.com, lawguru.com, PatentCafe.com and emplawyernet.com. It hopes to sign 20 sites by the end of the month. Within the next 12 months, Adsmart plans to grow its b-to-b network to more than 300 sites.
One of Adsmart›s new clients said the network is a boon to sites like his.
˜Several months ago we were looking for a network, but then we stopped,” said Adam Turteltaub, marketing director of emplawyernet.com, one of the largest legal-job databases. ˜It was frustrating to deal with the networks out there because they are not focused like Adsmart on vertical categories, but rather were more horizontal. We went with Adsmart to take advantage of a company with a national presence and representatives all over the country.” n