As most consumers ignore Ads, new social platform engages users with brands through games
New Swace platform to change how consumers and brands and interact via mobile gaming app.
Millions of brands on social media are competing for the attention of modern professionals who are becoming more and more disengaged from ads in the digital space.
The average organic reach of a Facebook page has been steadily dropping with every newsfeed algorithm update. A We Are Social and Hootsuite report found that in 2018, the average organic reach was only 6.4% of that page’s fans.
Paid digital advertising reach has also been declining. On average, only seven people from 1,000 will interact with a boosted Facebook post. This makes advertising highly cost-inefficient and difficult to quantify. On average, 80% of CMOs are unable to quantify the value of their social media efforts.
As consumers become more adept at ignoring, avoiding, or even blocking ads, brands need to find new ways to get users to willingly interact with them.
Swace is a blockchain-based social gaming platform, which is currently fundraising via an IEO (Initial Exchange Offering). It is gearing up for its product testing and pilot launch, and intends to solve this problem of engagement by launching a mobile-based user-brand interaction tool that blurs the line between advertising and entertainment.
Many Facebook users who participated in Swace focus groups claimed they usually felt like mere numbers in a brand’s marketing strategy. They did not consider themselves valued for individual participation, and instead felt like “engagement figures” and “numbers of followers.” In their view, they were treated as a part of a mass which is there only to bring in revenue.
Swace empowers companies to actively engage with their target audience in a fun and creative way. The platform will offer users a chance to participate in interactive online-offline experiences, and win real-life rewards. Its choice of activities is truly vast, ranging from tagging yourself with your favourite cup of coffee, to going on an Augmented Reality (AR) treasure hunt with a group of friends.
Swace gamers are able to participate in all types of activities that range from location and emotion-based, to product testing and community-driven upvoting games. The winners of all these games and experiences will be rewarded with Swace’s specialized currency, the SWACE token, which can then be exchanged for goods from partner brands.
From a brand’s perspective, they can use SWACE tokens to set-up own private in-app games as a way of motivating employees. Meanwhile, gamers who earn SWACE tokens can convert them into purchases within the Swace brand store. Similarly, they can be bought by consumers to engage with the platform.
Swace has been growing ambitiously. It has already created a working prototype, and recently launched an Initial Exchange Offering (IEO) via several Blockchain currency exchanges, including Shortex, Probit and Bitcoinus. It is also in talks with a number of internationally-recognized brands including Bolt and Revolut. By autumn this year, the Swace team plans to launch its app for both Android and iOS.
Low user engagement and fierce competition are some of the key problems businesses have to face right now when marketing their product or service in the digital space. Swace seems to be a truly unique alternative that promotes user-brand interaction in a way that is mutually beneficial for the brand and the customer.
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