Thus, Bradtke claims Vibes’ value proposition will help unlock mobile dollars by helping consumers easily redeem coupons in-store, adding that Vibes also supplies unique advertiser opportunities to use data associated with WalletAds.
“Once the offer is saved in the wallet, it can be updated indefinitely and be made more ‘geoaware,’ so if the consumer gets within a certain radius of a store [and triggers a beacon] it can put up a reminder on the phone or push an update [to the lock screen] like, ‘Don’t forget you have this offer, come in and redeem it,’” he said.
Vibes also hopes to save retailers from the fate of plastic loyalty cards, whose printing expense can costs upward of $1 million per year, said Mark Tack, Vibes’ VP of marketing.
“A traditional loyalty program is a completely static experience,” he said. “One way to accomplish ground here is to [link] your digital offers in Passbook or Google Wallet with in-store redemption, so you’re able to tie back that mobile engagement” with point-of-sale activity.
Vibes has about a dozen retailer clients, including Pep Boys, The Gap and Home Depot, some of whom have used or are currently testing WalletAds. The company also said it has an agreement with a major agency holding company.
Bradtke said the WalletAds functionality is compatible with mobile ad formats sold by major mobile ad networks (he named Millennial Media, as an example) or rich media platforms and charges on a “very modest CPM” basis.