It's no secret that user-generated content drives ad revenue online. In 2013 alone, Internet ad revenue reached more than $20.1 billion. Nevertheless, most ad-supported content-sharing platforms are dominated by large companies with generous advertising budgets. Now, there's a new app that lets small businesses in on the fun, too.
Bonzo Me is a free iPhone and Android app that pays users to post and view photos and videos. Users get paid in four ways: with 80 percent of ad revenue generated by their photos and videos; by asking questions or polling viewers about their content; by answering questions posted by other users; and by sharing others' videos.
What does this mean for small businesses? Although you won't necessarily use Bonzo Me to earn money by posting content, the service offers a potentially powerful consumer-driven platform to launch affordable, highly targeted location-based advertising campaigns and focus groups. [4 Ways to Create Online Video Ads That Work]
Highly targeted advertising
Any effective advertising campaign requires a highly targeted demographic for maximum reach. Bonzo Me takes this to the next level by using its social capabilities to further define target audiences.
"Since we utilize social media, we have demographic information for Bonzo Me users," said Dr. Michael Nusbaum, a surgeon turned chief technical officer of Giffen Solutions Inc. and founder of Bonzo Me. "This means that small business can target specific demographic groups in specific demographic areas."
One example is a pet store that wishes to advertise to pet owners between ages 16-50 who live within a 20-mile radius of their store. Another is a new high-end restaurant targeting diners between ages 35-65 who live within a 10- mile radius, or those who have an upcoming event, such as an anniversary.
"We can target those groups for them," Nusbaum said. "They can post a video or commercial and target just those Bonzo Me users who fit that specific target."
Focus group research
Using the same technology for highly targeted advertising campaigns, Bonzo Me also offers small businesses an affordable platform to launch focus groups and other types of advertisement research.
For instance, a new business considering running an advertisement on local cable could first post their video or commercial on Bonzo Me for a test run, Nusbaum said. The business can select their target audience based on age, gender, location and other metrics, then get feedback from viewers before spending a fortune on a TV advertisement.
"In doing so, they can make sure that the ad speaks to the audience they wish to influence," Nusbaum said. "Essentially, Bonzo Me becomes a giant focus group for any business."
Originally published on Business News Daily