In this episode, Michael Waitze speaks to Michio Kobayashi, CEO & Founder; and Masaya Ueda, CTO at Paronym. 20 months ago, they launched TIG, a video tagging system that targets to improve video completion rates, as well as increase sales conversion rates. As Michio shares, this tagging process is done mostly automatically and is non-intrusive to the user watching experience.
Michio relates back to when he was still a high school student when he could barely speak a lick of English in a Canadian school. However, this proved to be a great experience for him as he could effectively interact and practice the English language, and now being able to converse professionally in English.
Their video tagging system, TIG, boasts clients such as SEGA and provides not only the service to digitally tag products or objects in the video, but also the platform for the client to use these technologies for their benefit.
Michio also shares some staggering numbers with regards to the usage of TIG. Where e-commerce would usually have a standard conversion rate of around 1-2% with traditional marketing, Paronym’s system brought these up to more than 10%. And by keeping the users craving for more tags on videos, boosts up the video watch completion rate to over 50%.
As a Japanese start-up part of Rock Thailand, Paronym aims to forge partnerships especially with media partners such as video sharing platforms and e-commerce platforms in Thailand to tap into the vast market with over 100% mobile device ownership rates.
Listen in to this episode of the Thailand GameChanger to find out how Paronym is changing and bridging the e-commerce and video sharing industries and find out how TIG’s technologies can benefit your business.
This episode’s audio was expertly edited and this episode’s summary was written by Yong Yun Jing.