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Platform puts advertisers in touch with targeted segments
Gamification is getting huge buzz this summer as more brands look for ways to play with consumer segments. A new platform launch offers one more interaction. Called Loffles, the platform is a kind of rewards system, offering consumers prizes for watching video clips. Viewers watch clips of interest to them, so they are immediately engaged; advertisers are then connected with those engaged viewers.
"Today's consumers are busy, and they deserve rewards for their time and attention. [Loffles is] a fun, easy to use, destination site where they can win great prized without having to jump through hoops like spamming friends or signing up for subscriptions," said Brandon Yoshimure, President and Founder, Loffles. "Loffles is an excellent compliment to TV ads and promotions because it uses the same branded content, but delivers it in a more targeted and easily measured manner. Brands only pay for what is watched."
Yoshimura went on to say that the platform is another way that brands can test-market content or campaign concepts, and with 80% of online consumers having participated in an online sweepstakes (via Jupiter Research) it makes sense for brands to enter the space.
Here is how the system works: consumers sign up to watch video clips; the platform surveys them as to their interests to create a personalized profile. That profile is then used to recommend relevant prizes and ads. The viewer determines what type of price they want - a Macbook or flat-screen television - and then watch an ad and answer 2-3 questions about that ad. They are then entered into the sweepstakes.
According to comScore 176 million US consumers watched more than 5.6 billion online video clips in May 2011. On average, viewers spent 311 minutes watching clips from Google/YouTube, 105 minutes watching VEVO and 39 minutes watching Yahoo site clips. Meanwhile eMarketer estimates that online video advertising will increase more than 50% this year to reach just over $2 billion.
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