Boomerang, a platform that allows people to give locally-specialized gifts to Facebook friends, has expanded their services, launching a rewards program — Boomerang Rewards. This allows brands to treat their fans for spreading the word and sharing gifts.
Boomerang Rewards helps online publishers engage and monetize users via free gift card rewards. Unlike other loyalty programs that need some kind of investment upfront, Boomerang’s program puts the power in the hands of brands, by letting them give customers promotional gift cards from top online brands free of charge, as well as earning revenue per redemption.
In beta, Boomerang chose four launch partners in media, online surveys, gaming and recruitment — to launch this rewards offering. Boomerang said that these partners experienced double-digit increases in conversion rates as well as revenue nearly 10 times as much as the average cost per 1,000 impression rates.
Boomerang CEO Zach Smith described his company’s newest offerings:
We experienced tremendous success helping large online retailers generate off-the-charts conversion rates by offering small gifts to customers. Our new Boomerang Rewards platform appeals to the same consumer psychology – people love receiving and gifting gifts. We saw an opportunity to turn that into a way for any web-based company to reward their users for various actions and drive loyalty. What’s unique about our offering is that our partners profit each time the gifts are redeemed.