Samantha Karol, Marketing Assistant, sat down with CPX Interactive CEO & Co-Founder, Mike Seiman, to learn more about the company's roots and how it has grown into one of the top five online ad networks in the world.
1. What motivated you to start your own business? How did you build on your original concept to create a successful company?
When I was still a student at Hofstra University, I was very interested in the Internet and I knew that creating content online would soon become very profitable. I met Carlton Hickman (CTO & Co-Founder of CPX) at school, and we found that we were both computer savvy and interested in the future of the Web. We began monetizing inventory on websites we had already been working with, and targeting ads to our specific audiences. Through this test case, we learned the best ways to increase efficiency and drive more traffic to our pages.
At the same time, we were examining how existing ad servers placed their ads to maximize profit. Soon we began building our own ad server, and recruited other websites to join our makeshift “network.” Publishers liked working with us because we knew how it was to be in their position. Our next major step was to fill a void we saw in the industry by finding ways to monetize remnant inventory. Since then, the company has grown and developed, and we continue to do so.
2. What obstacles did you confront as a new player in the online advertising industry?
Launching a business straight out of college was risky. Carlton and I had to find people who shared our vision, who could give us constructive criticism and help the business grow. In order to recruit people to be a part of this new venture, we had to have a little bit of luck and a very convincing argument. Initially, finding clients was also a challenge because we were competing with other ad networks that were either public or backed by major investors. In the beginning, it was like we were “a little fish in a pond of sharks.” We had to balance industry standards with saving money to sustain the company, while competing with well established competitors.
Those challenges taught me a lot, and I have made sure to surround myself with people who have the skills and tools to overcome obstacles, and who can teach me how to confront those obstacles in the future.
3. How did you make sure that CPX Interactive stood out from the competition?
When we first started, I saw the lack of fill rate in the industry, and realized that there were a lot of publishers with extra inventory that was not being used. Using the concept of infomercials that run at off-peak hours, but still gain visibility and leverage the revenue of the stations that show them, I created a plan to bring advertisers to the Web. After building a base of advertisers, the goal was to find more publishers and then build from there to high level direct marketing and then eventually a brand business. By following through on this plan, CPX Interactive has gone from a small player to one of the top five online ad networks in the world.
4. What makes CPX Interactive different from all of the other ad networks out there?
There are numerous networks that offer a variety of benefits to advertisers and publishers. CPX Interactive offers all of these benefits under one roof: an ROI-focused performance network with remnant inventory, content vertical networks consisting of numerous channels that sell at a higher premium CPM, and premium networks that bring very high level CPMs competitive with the company’s internal sales force. CPX also provides in-house creative services, optimization, and technical support, and strives to maintain quality customer service.
5. What are your plans for the future of CPX Interactive?
My vision for the future of the company is to utilize technology to create a “hedge fund of online advertising.” This would be a semi-closed, semi-open network where CPX could plug into all of the ad exchanges and “clearing houses” and offer advertisers a safe haven to access the breadth of advertising that exists without risking brand exposure. I have seen the Internet change and develop so much in a short amount of time, and I can’t wait to see how things progress in the future.
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