What potential does eye-tracking technology hold for marketing research? That is a question EyeTrackShop hopes to answer with their product that measure the effectiveness of advertisements based on ocular data such as eye movements and time spent on various parts of the screen.
According to the company behind the technology, it functions through the use of a standard webcam and is capable of providing rapid feedback that is also cost-effective. The main use of the technology can be in testing advertisements prior to a product or specific marketing launch in order to grade effectiveness as well as areas for improvement. It also provides the ability to continue testing the ads in real time with non-test subjects to determine discrepancies and improve accordingly based on various platforms, formats as well as sites that companies may advertise on.
The current list of customers is broad and reputable, including household names such as Google, Microsoft, Proctor & Gamble and AOL. Those companies can also benefit from the fact that the technology can be used to track advertising data and analytics in multiple countries simultaneously allowing real time comparisons to how different consumers respond to the ads, websites and specific pages.
The company was able to secure the funding from European firm Northzone in order to back international expansion and further product development.
According to a recent TechCrunch article, a similar start-up called GazeHawk was acquired by Facebook in March of this year. It is assumed that Facebook would use the technology to set up their interface in order to maximize advertising and user experience. Little is known however of whether this will indeed be the case since the acquisition took place. Regardless, technologies of this type provide exciting possibilities for the advancement of technology as it relates to marketing and analytics. Test subjects can easily lie or have trouble explaining their sentiments towards an ad, but the eyes would have a much tougher time doing so.
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