Monetime was started to revolutionize online local search advertising. Our vision is to transcend cost-per-click (CPC) and cost-per-impression (CPM) advertising (Google/Bing) for local businesses through a cost-per-booking (CPB) search advertising model based on booking appointments and events online (appointment and event based businesses make up a large percentage of local businesses including restaurants, spas, clinics, clubs and theatres).

CPB advertising offers businesses the most efficient and risk free model of advertising – they only pay when a new customer makes a booking that has been prepaid online.

Much of the recent success of companies like Groupon and LivingSocial could be attributed to their risk-free cost-per-sale (CPS) pricing model to business advertisers. We assert that the future of local search advertising will transcend “flash-buying” and incorporate a sustainable advertising channel for live appointment/seat inventory.

Think: Expedia/Kayak for small business.

Part 2: Our next post will demonstrate what the Monetime CPB model would look like if incorporated into Google/Bing local search.