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.”
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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.
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