The company offers customizable white-labeled Facebook apps that deliver digital rewards to customers. For example, a retailer could incentivize people to make a large purchase by giving them a $10 iTunes gift card in return. After the user completes a transaction, the Ifeelgoods integration will allow him or her to connect with Facebook and claim the gift card. Users will also be prompted to share back to Facebook or on Twitter. Ifeelgoods says 60 percent of customers do this.
In addition to digital gift cards, rewards can be air miles, e-magazines, mobile apps or other digital goods from more than 200 rewards providers. Ifeelgoods aims to personalize rewards and gather additional consumer insights by using social data from Facebook and transactional data from the client. The platform will also help businesses test and understand which rewards are performing best so that clients can optimize for both ad cost and cost of rewards.
Ifeelgoods has a unique history with Facebook compared to other PMD companies. Ifeelgoods used to help retailers give away Facebook Credits as rewards, starting in 2010. These “microincentives” became popular within games on Facebook.com. Some businesses also used them as rewards for Liking their Facebook page or taking some other social action. However, in 2012, Facebook moved away from offering its own virtual currency in favor of a payments platform that uses local currency. Ifeelgoods continued its business with other digital rewards and has since added other products to its promotions platform. Cofounder and VP of Business Development Suchit Dash says it was Facebook that encouraged the company to apply to the PMD program and formalize their post-Credits relationship.
In March, Facebook updated its requirements for PMDs, with a new focus on a developer’s ability to advise marketers on ad spend, even if they’re primarily focused on an area like apps or insights. Ifeelgoods fits right into this with consumers typically reaching its apps through ads in the News Feed, Facebook sidebar or other platforms. The company has also begun partnering with Ads PMDs to connect its clients with Facebook ad providers. Ifeelgoods has run promotions for over 150 clients, including Walmart, Coca-Cola, Universal Pictures, GAP, Paypal, Kimberly-Clark and L’Oreal.
To learn more about this topic, join us at Inside Social Apps in San Francisco June 6-7. The session “Maximizing Audience Engagement with Real World Incentives” will focus on how developers and marketers can drive engagement by offering users real-world incentives such as discounts or items earned through app activity.