Marketing In The Value Exchange Economy

Richard Jones Zero-Party Data

The fallout from 2018’s Cambridge Analytica scandal, newspaper headlines awash with data controversies and privacy regulations sweeping the globe have made it increasingly difficult for marketers to build and maintain trusted relationships with consumers.

For privacy and personalization to coexist, digitally savvy consumers need to be entertained, engaged and receive something in return for their attention and preference data.

Marketers can deliver this through interactive experiences that conduct research, accrue opt-ins and deliver an altogether better experience with a tangible value exchange for the consumer.

Whether a questionnaire, poll, quiz or social story, by leveraging these interactive experiences that incorporate incentive mechanics, marketers can quickly and easily collect zero-party data (preference data) at speed and scale.

Here we’ll discuss some incentive mechanics you can employ that offer a value exchange, that will encourage your audience to tell you what products they desire, what they look for in a service, and what motivates them to purchase.


Coupon Code

Possibly the simplest and most traditional form of value exchange is delivering coupon codes in return for your prospects engagement and data. Consumers are normally more than happy to offer their PII data and preference insights for money off a product they desire.

Mars & Best Day – Omni-Channel Campaign

Travel booking website BestDay.com partnered with confectionary giant Mars to increase chocolate sales and first-party data acquisition by adding coupon codes to qualifying purchases that could be redeemed for money of a vacation.

To enter, participants were required to submit their name and email address together with the receipt ID on a Wayin-powered microsite.

20k Campaign Entries


Prize

The dangling of a tantalizing prize is possibly the oldest form of marketing value exchange.
Using a prize in motivates people to participate, drives social media buzz and will oftentimes reap high conversion rates.

Discovery – Sweepstakes

Discovery wanted to load its marketing database with first-party data and marketing opt-ins… and lots of them. With a little helping hand from Wayin, Discovery devised the HGTV Dream Home competition, giving its viewers the incredible value exchange of the opportunity to win a fully furnished waterfront paradise in Merritt Island, Florida.

On a dedicated microsite, built by Wayin, participants were asked to submit a small amount of PII data in return for entry into the sweepstakes.

Discovery HGTV

483 million first-party data records collected in 2018


Social Kudos

As Andy Warhol mused: everyone wants their 15 minutes of fame. Brands can harness this social phenomena in return for high-converting user-generated content. Whether that’s a prospect seeing their selfie on a giant screen at an event, or their content featuring on a branded social story, the possibilities are endless.

UEFA – Direct Video Upload

UEFA launched a video contest to find Europe’s best soccer freestylers. After capturing their routine on camera, competitors uploaded their content using the direct video upload mechanic along with submitting a small amount of PII data.

In return for the UGC, all entries were published to a gallery for website visitors to browse and enjoy.

UEFA Video Upload


Personalized Recommendations

Personalized product recommendations are one of the most effective ways of driving sales. Indecisive consumers often need a helping help when picking the product that is right for them, and by leveraging an incentive mechanic that gives personalized advice, you’re not only providing a valuable service, but increasing the propensity to purchase.

Air New Zealand – Personality Quiz

Air New Zealand’s ‘You Say Yay’ interactive mobile quiz serves to organically promote its flight destinations by asking consumers about their favorite pastimes and offering personalized vacation suggestions in return.

Additionally, the mobile quiz enables the airline to better understand customers’ preferences and collect valuable zero-party data.

Air New Zealand You Say Yay

38:1 ROI


Exclusive Content

You don’t always have to give away a discount or a prize to engage consumers. Reveal Campaigns allow you to tease your audience with exclusive content in the lead up to a product launch, countdown the days to an important event, and build anticipation ahead of a season or sale in return for first-party data and engagement.

Daily Mail – Reveal Campaign

To build the excitement ahead of the highly-anticipated final series of Game of Thrones, Daily Mail published a Wayin-powered reveal campaign. The activation gave fans the chance to see exclusive trailers of new episodes in return for taking part in polls and submitting small amounts of PII data.

daily mail


Free Trial

Product trials aren’t just your gateway into your customers’ psyche, you can also build trust by offering them a no-strings demo. These ways of testing out your product can be the catalyst for future conversations, data collection, and ultimately sales.

Finish – Content Hub

Finish offered free detergent tablets to Brazilian consumers where dishwasher usage is lower than in most other markets. Through an interactive campaign hub they were able to capture valuable customer habits, understand pain points and stimulate dishwasher usage.

finish free trial

Zero-Party Data Maturity Model

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