It appears as though the world of online advertising is about to see changes coming in the near future. Internet giant, Google, and start-up company, Groupon, are just two companies trying to reinvent the way in which they approach local advertising online by creating new ad formats that will, in turn, help small businesses reach new customers.

Just this week, there have been rumblings that Google is in the process of developing new “interactive video ads” that are set to out-perform the traditional banner and search ad formats web users are accustomed to. While no specifics have been released as of now, Google’s Chief Executive, Eric Schmidt, says the ads, “…could appear anywhere on a Web page, not just inside a video, would be like mini-Web pages. That means they could allow Web users to watch a video, leave a comment and see real-time updates within the ads that are more customized to their interests.” Google’s new “interactive video ad” concept will allow businesses to reach new consumers, because the ads will be more tailored to what consumers are specifically searching for.

Groupon is also revolutionizing the way in which businesses are trying to reach new consumers, using a slightly different approach than that of Google’s new “interactive video ad” idea. Groupon works by allowing a business to make their own offer on the goods or services they provide and then email it to consumers with commentary about the good or service they are interested in.  I actually purchased my first Groupon for Bikram Yoga classes just the other day, and I can say that I will be using this service again. Groupon’s approach has helped businesses win loyalty over that of traditional ad formats commonly used.

It will definitely be interesting to see how users adapt to these new ad formats in the coming months and even years. But it looks as though these new ad formats definitely look promising at achieving the ultimate goal of connecting businesses with consumers.