When a lot of businesses dive into mobile they face a decision that seems to always come up.
Do we need to use discounts?
What if we said instead of discounts, you should use rewards?
What if we told you that consumers actually respond better to rewards and it adds value to your brand?
In today’s epsiode, we’re goign to talk about why rewards are so powerful.
Mike Brown from Kiip joins us to take us through how they work with brands to engage customers with rewards at the right moment.
Kiip redefines how brands connect with consumers through a rewards platform that targets “achievement moments” in mobile games and apps. This innovative approach to mobile marketing creates meaningful engagements between users, developers and advertisers. Backed by Hummer Winblad, Relay Ventures, True Ventures, Digital Garage and others, the company has raised $15.4 million in funding to date.
Kiip has been recognized by Forbes as one of the “4 Hot Online Ad Companies to Put on Your Watch List,” named on the Dow Jones “FasTech50” and listed on Fast Company’s “50 Most Innovative Companies.”
I really wanted to get Mike on to discuss a study they did with IPG Media Labs comparing advertisements vs rewards. The study was based on three questions:
- Are people more excited during an achievement moment?
- Do people like rewards?
- What effects do moment-based rewards have on brands?
The study found that:
- People are 40% more excited during an achievement moment vs. normal app usage.
- 84% of people prefer rewards over banners and full-screen interstitials.
- Rewards increase user respect for brands whereas banners decrease respect by 7%.
Moment-based rewards are 14x more effective at increasing purchase intent than banners.
In this episode we dive deeper into their finding and explore if rewards are something you should use in your business.
In this episode we’ll discuss:
- Do rewards work?
- Why achievement moments are the best time to deliver a reward
- How rewards don’t always need to be monetary
- The difference between rewards and banner advertisements
- IPG Media Lab study
- Surprise and Delight Article by Apptimize
- Kiip’s Innovative “Moment” Targeting (1-minute video)
Got questions? Join us in our Private Facebook Group to discuss mobile marketing in YOUR business. Join us here.
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