Today AdParlor announced the expansion of its virtual currency monetization platform. The AdParlor network is now available for apps on six social networking sites: Facebook, MySpace, Hi5, Bebo, Orkut, and Friendster. The offers in the AdParlor network are exclusive and tailored to be easy for users to fulfill, like installing other applications or filling out surveys.
"Our two major competitors in this space (Offerpal and Super Rewards) often fill their offer wall
with complicated offers where users must go through many pages in a
survey or submit their credit card information. We focus on easy offers
such as installing other applications," said Fazal in a statement made
exclusively to Virtual Goods News.
AdParlor's virtual currency platform is now live in over thirty
Facebook apps including Kickmania, Pull Tabs, Yes or No, Slots, Bingo,
Egg Breaker, and Premier Football. AdParlor also reports that some app
developers on MySpace and Bebo are currently using the platform to
successfully generate revenue.
Facebook app installations have occurred as part of users fulfilling
AdParlor offers. Fazal stated to Virtual Goods News that last month AdParlor issued revenues "in the tens of thousands of dollars" to client developers even before the platform's public launch.
AdParlor describes their product as a turnkey solution that can be installed in less than thirty minutes, with Fazal noting that some integrations are complete in as little as ten minutes. The "offer wall" it adds to an app is designed to take up as little space as possible, roughly 550 x 120 pixels, and Fazal notes that many apps choose to use AdParlor along with Offerpal and Super Rewards.
As part of the platform, AdParlor monitors offer performance and works toward optimizing revenues in each app. AdParlor will also handle customer service and technical support issues such as a user completing an offer but not immediately receiving their currency, leaving developers to focus on simply running their apps.
"Large Brands who build applications should be VERY interested as we can drive lots of installs for their new apps very fast. There are over 30,000 applications in the Facebook directory. Launching an app is like a needle in a haystack," said Fazal. "We can leverage our virtual currency platform to push out thousands of targeted installs. Additionally, we can work on a cost per engagement basis. For example, users will only earn their 10 gold coins if they install the 'Super Bike' game and play it '3 times'. This allows the brand to really only pay for quality installs."
Fazal stated to VGN that AdParlor is a completely boot-strapped company that has received no venture capital. In the future, AdParlor hopes to expand its service so it can support mobile apps and freestanding online games. AdParlor's other businesses include an advertising network that serves over 30 million ads per day and a service that helps large brands and ad agencies build and distribute custom apps for social networks.
“In addition to our extensive banner advertising network, our virtual
currency platform now offers application developers another great
opportunity to monetize their applications,” said Kristaps Ronka, CTO,
AdParlor. “AdParlor is committed to continuously updating our platform
and building new offerings with even more features and functionality.”
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