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Whether it’s watching your favorite TV show, a movie on DirecTV or playing your favorite mobile app, it goes without saying that the one thing we all can’t stand even more than advertisements are bad advertisements. They’re annoying, disruptive and most of the time we couldn’t possibly relate less to the brand being advertised to us. And on top of that, we don’t get anything back from brands in return for our time and attention. We are so used to these unwarranted messages being shoved in our face that we don’t even realize how often this occurs.
Just imagine what it would be like if the brands that advertised to us were only ones we are truly interested in and can relate to. Better yet, what if brands actually took it a step further and actually gave us something in return - something real - as a thank you for our valuable time and attention? How do we bridge that gap? How can we make that relationship a successful two-way street?
Lootsie seems to have all the answers by giving users real-world rewards
for using their favorite apps. Lootsie is a rewards layer that can be added on top of any game allowing that game to dish out points to users just through normal game play. Those points travel with the player from one app to another and can be redeemed in Lootsie’s marketplace for real-world rewards from some of the industry’s top brands, like Amazon.com, Starbucks, Best Buy, Walmart, Sephora, GameStop, Target and Home Depot. Users rack up points for as long as they’d like (there’s no expiration for Lootsie Points) and can redeem them in Lootsie's marketplace for rewards, like gift cards, discounts on products, or even big ticket rewards like an Xbox 360 or Beats by Dre. Sounds too good to be true, doesn’t it?
Brandon Werber, co-founder and President of Lootsie, made it clear why Lootsie’s already becoming the most valuable addition to mobile advertising and the consumer/brand relationship:
What inspired your idea?
The urge to create a much better offer vehicle for brands to communicate with consumers in a way that would actually make consumers excited to see things from their favorite brands, instead of being annoyed by them. It’s only fair that there is an even and reciprocated value exchange from both sides; it’s as basic as the ol’ “I’ll scratch your back, you scratch mine” concept. Right now, pop-ups, banner ads, interstitials, etc. are way too one-sided. It’s only a matter of time before users will refuse to engage in any content unless they get something in return. There are two inherent problems currently: 1) Brands don’t have an effective outlet to reach and discover consumers and deliver right message. 2) Consumers don’t want to be annoyed or have their experience interrupted by advertisements. Lootsie opens up a direct channel for brands to communicate and engage effectively with their audience, while be a true valued add to the consumer experience. That’s our holy grail.
What are some challenges you face within this space?
Focus. When you have a startup, as a founder or anyone else, you’re incredibly passionate about what you’re building. You create this long roadmap of millions of things you want to be able to introduce to the world through your model, but it’s easy to get lost in the dream and try to do everything all at once. All of the sudden everything seems like a top tier priority. The most important thing is to stay focused, laser-focused. Remembering what our core competencies are and making sure to perfect those first before adding new features is always a challenge, especially when you have so much you want to offer.
What was it like building your team? You seem to have a genius set of people.
One thing I’ve always lived by is your team drives your passion and your passion drives your team. We have always been and will always be very selective when building our team. They had to share the vision and passion. Everybody we recruited has been in this space for years, whether it was tech, advertising or gaming. They were the ones who built and integrated these SDKs, they know the consumer, the brand and the developer. They were the ones who got the one star ratings in their apps because of bad advertising. They were also the ones giving these one star reviews to other apps. At the end of the day, it’s your team that drives the product and the vision. Our team is the thing I’m most proud of.
What competitors are in your space, if any?
Mobile monetization, rewards and advertising are clearly hot spaces, but we’re the only ones doing it the way we are. I love competition and I especially love it when our competitors do well. It’s hard to prove the value of your model or the space in general if most others have failed, so it’s beneficial to all parties when accomplishments are made.
What advice would you give to other entrepreneurs?
Firstly, don’t lose sight of why you’re building what you’re building. Stay as true to that as you can because it’s incredibly easy to lose focus. You’re going to have other entities trying to get you out of your lane to do something different for them. It’s important to be opportunistic but don’t compromise your original goals. Stay in your lane. The great Mitch Hedberg has this joke: “When people know you can do something well, they assume you can do all related things just as well. If you’re a chef, you can farm too, right?” Well, no. Have a set roadmap and stick to it.
What advice do you have for other founders?
The trickle-down effect is very real. Teams looks to their founders to see how things are done. Be aware of that as a founder. You set the mood, the culture and expectations. You create what people expect, both of themselves and others. You set the bar. Spiderman’s uncle, Ben, said it best: “With great power comes great responsibility.” This is especially true for all you founders out there.
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Lootsie is making big moves to a rad office space in Culver City in December, and we cannot wait for what’s to follow. With their full release on the horizon in early 2014, these guys are stepping into the scene and they are doing it full throttle. They're clearly not planning on holding anything back.
