By: David C. Zaretsky, CEO and Chief Scientist of Snips Media
Tell us a little bit about yourself. What is your background? Is it your first business?
David Zaretsky is the co-founder, CEO and Chief Scientist of Snips Media. He is an accomplished entrepreneur, researcher, lecturer, and published author with expertise in the fields of high-performance computing, data timing, digital signal processing, and digital advertising. He has co-founded, managed, and developed tech companies in areas of electronic design automation, aerospace, internet advertising, and social media. David earned his Ph.D. in Electrical and Computer Engineering from Northwestern University in 2005 and has authored numerous research publications. David serves as an adjunct lecturer at Northwestern University, teaching advanced classes in high-performance computing.
Write 2-3 sentences about your business. What problem is your business trying to solve?
Snips is an influencer network connecting brands with audiences of social influencers. Our platform allows influencers to promote brands and content directly, or place advertisements behind the organic content they share on social. We have developed a suite of technologies for both influencers and advertisers to connect with their audiences across different digital platforms, including social media, mobile apps, email, and even text messaging. We have developed a VR360 advertisement platform, the first of its kind for influencer marketing, and the only technology that supports responsive VR360 display and video advertisements across all mobile devices, web browsers, social media, and other digital platforms.
What are your business growth plans?
Snips is the first advertising platform that has made VR360 display and video ads available across all major mobile web browsers and device. We are working with brands and creative agencies to bring VR360 experiential marketing to life across social media and other digital platforms through influencer-driven engagements.
What excites you the most about the possibilities of VR? In terms of transformative technologies where do you see VR on the spectrum? Fire, the wheel, the automobile, phones, airplanes etc.
The greatest issue most brands face today is audience engagement. VR is a transformative technology that can be utilized in experiential marketing to increase audience engagement, which in turn amplifies brand recall and leads to greater conversions.
What industry do you think will be most impacted by VR? Education, HealthCare?
Gaming and Entertainment will surely be the first adopters of VR, because the mobile platforms already exist and they have the budget to develop the costly production of content. Before the end of 2016, SuperData is expecting consumers to purchase 16.8 million mobile VR devices, estimating $3.7B in revenue and reaching over $40B by 2020. VR will play an important role in experiential marketing because of the higher rates of audience engagement and participation. However, because VR is not fully supported by all major web browsers and mobile devices, like Safari on iOS and Mac for example, it will be some time before brands and advertisers are able to tap into the wider audiences at scale.
Will VR unite or divide the world?
I believe that in the future, VR (and AR) will allow us to interact with people in different ways, especially as it relates to healthcare and education. However, as VR communication because more mainstream, personal interaction will become of greater value.
What will your children be able to experience with VR that is currently not possible?
Currently, VR and AR is mostly focused on visual and auditory perspectives. There is a lot of research and development in VR that taps into other senses, for example simulated touch or mood detection. These new technologies will enhance the VR environment to create more personal experiences in the future.