Kiip, a mobile advertising service built around rewarding users for achieving “moments” within apps, has announced Kiip Platform, a spin-off of its technology that focuses on loyalty programs for brands.
Basically, Kiip Platform is separate from the company’s advertising business because it uses a Subscription-as-a-Service model and is designed for clients that want to reward moments within their own apps and sites. Brands interested in also placing rewards in third-party apps can easily push campaigns from Kiip Platform to the ad side.
Over the years, Kiip has built up a user base of 35 million different devices that have all claimed a reward. CEO Brian Wong described the company’s advertising and loyalty products as “symbiotic” because data serves as a fabric between the two.
“All the brands that are spending money on advertising today are the ones looking to license from a loyalty standpoint,” Wong said. “What they learned was that moments can be used to acquire customers and can be used to retain them.”
The Kiip Platform technology includes three main components: identifying internal and social media triggers, integrating with existing CRM software, and enhanced targeting for relevant rewards. According to Wong, brands that have been testing the platform have seen a 30-50 percent lift in metrics such as the number of sessions per user, average length of time per session and customer churn rate.
Kiip also announced two new investors today: Verizon Ventures and Buddy Media founder Mike Lazerow.