NEW YORK: Real-time marketing may enter a new phase later this year after media agency UM, a division of IPG Mediabrands, and AOL Platforms announced they are developing a platform to deliver digital ads that can be triggered by events.

The new platform, which the companies have named "Moments Marketing", is expected to be campaign-ready in the third quarter of 2014 and will send ads in response to events, such as stock market fluctuations and sports scores.

Driven by AOL's technology and UM's programmatic infrastructure, the platform will enable advertisers to buy into various cultural and real-time triggers through an automated system.

"What is of greatest value to our clients and to our media technology partners is communication delivered and consumed at the place and time for which it was intended," said Matt Seiler, global CEO, IPG Mediabrands.

"At IPG Mediabrands, the 'here' and 'now' has been the focus of most of our initiatives for some time," he added.

While real-time marketing is not a new concept and has become a regular feature of social media, AOL and UM hope their initiative will help advertisers to gain greater reach to consumers.

For example, automakers might use the platform to advertise hybrid cars in the event of a petrol price rise, Advertising Age suggested, or finance firms might promote conservative investments in response to a fall on the stock market.

"Rather than relying on traditional planning paradigms, where we're hoping to take advantage of time frame or predictions in the market, we're actually reacting in real time and then we have creative set up to run against that," said Gregg Colvin, chief operating officer at UM.

UM clients will have exclusive access to the platform for a limited period before it is made available to other agencies and advertisers.

Data sourced from AOL, Advertising Age; additional content by Warc staff