Recognizing the need to make advertising more effective, a new form of advertising known as Reward Advertising which focuses on rewarding consumers for their attention and interaction is steadily gaining popularity.
May 26, 2020 /MarketersMedia/ —
With traditional advertising on mass media like television, radio, and press, commercials and advertisements are less targeted and provide only one-way communication usually showcasing products or services. Accurate tracking of return-on-investment through this form of advertising and its conversion rate can be difficult, complex, and hard to justify.
Most traditional advertisers are also typically looking only to increase their own sales and profits, rather than providing additional value to consumers, rewarding them for their attention and anticipation, or building a mutually beneficial relationship with consumers which have proven to be crucial in a business’ long-term success.
Recognizing the need to make advertising more effective, a new form of advertising which focuses on rewarding consumers for their attention and interaction is steadily gaining popularity.
This is known as Reward Advertising in the Marketing Industry and currently more commonly deployed through mobile applications for ease of crediting rewards to consumers and users.
Reward Advertising allows users to unlock rewards or earn virtual incentives like points or coins for engaging with in-app advertisements.
AdColony’s Summer 2017 Publishing Survey reported that 75% of surveyed businesses claimed that reward ads were the most effective method of monetization, ahead of in-app purchases (63%) and interstitial ads (44%).
With more platforms employing Reward Advertising as a draw for both merchants and consumers, a successful example is V-MORE Asia, an advertising dollar sharing platform with an e-commerce and mobile commerce ecosystem.
V-MORE’s main uniqueness lies in how it rewards its users and consumers when they pay meaningful attention to regularly updated video advertisements and offers from merchants on its website and its mobile app. V-MORE’s fair rewarding process is accomplished via its patent-pending incentivizing algorithm to ensure accurate crediting of rewards as well as for merchants and advertisers to be sure that their advertisements and offers are getting real and meaningful human attention.
Reward Advertising while still a relatively new form of advertising is showing positive results as a mutually beneficial model for merchants and consumers.
Consumers enjoy the benefits of being rewarded for their attention on the latest deals and offers from merchants, while merchants are assured that their offers are getting attention from real consumers and not some random click farm.
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