Brands and retailers are always looking for the most effective ways to acquire customers. They are willing to spend big bucks on doing so, leading to the existence of a $150 Billion advertising industry. Unfortunately, much of this money is spent without a guarantee of customer acquisition nor a way to measure whether customer acquisition occurred as a result of the advertising.
We believe that the best way for brands and retailers to gain customers is to initiate a relationship with them. As opposed to just broadcasting a message, brands should give potential customers a token of goodwill. This means a free trial of their products. “Try before you buy” is becoming the motto of American consumerism.
Earndit is creating a channel by which brands can forge relationships with a great demographic. Earndit users all exercise and own an iPhone or iPod. As such they are all conscious of their health and/or appearance, they have the disposable income to own an iPhone or iPod, and they have the market awareness to track their exercise behavior. The intersection of these characteristics makes for a wonderful pool of potential customers.
The benefits Earndit affords brands are:
- exposure similar to traditional advertising
- new customers who redeem points for rewards
- goodwill generated by giving a reward for exercising
We are giving brands all these benefits for nothing more than the cost of the reward they offer. Other than that, the exposure to our users and the generated goodwill is free. In the future we anticipate that we will be able to charge brands for the ability to offer our users rewards, but for now this access is free.