PINCHme Encourages Consumers To Trade Personal Data For Free Stuff
A startup named PINCHme has developed a way to collect personal data about consumer packaged goods (CPG) products. The opt-in program will help it build a data business and give brands detailed product feedback on products consumers try.
The company launched in Australia last March with Procter & Gamble and will soon land on U.S. soil. Unilever, Kraft, Nestle, Johnson & Johnson, Kimberly Clark, and Neutrogena--about 50 consumer product goods companies--use the platform, per Jeremy Reid, founder and chairman of PINCHme.
Reid said the company continues to build the same relationships with brands for the U.S. market, after signing up between 6 million and 7 million consumers to the program in Australia.
Brands personalize their landing page to market products with pictures, videos and other digital content. Sign-up on the site requires consumers to provide their name, age, gender, household income and Zip code. On average, about one in every two complete the information and opt in without closing the browser window.
"We have a 70% open rate for emails, 60% conversion rate on sales in Australia, and 75% satisfaction rate for consumers who like the products and recommend them to friends," Reid said. "I don't think we'll deliver that in the U.S., but if we achieve a third or a half of that we'll do exceptionally well."
Not all platforms have this type of luck with collecting accurate data. About 68% of Cloudmeter respondents to a recent survey said their current data-collection platform doesn't capture all. Some 75% admit it lacks the ability to capture and analyze data in real time, and 59% confess it has a negative impact on their Web site performance.
Many also struggle with implementation, according to Cloudmeter. About 84% said their current solution requires additional coding from their development team, and 73% said the platform they use doesn't integrate easily with cloud systems.
PINCHme has become a launch pad for CPG products. New products post each Tuesday. Consumers can try them for free, but must provide input on the products they receive within 30 days before trying more. Each Tuesday the site releases new products. There's an option to purchase the samples from the site.
Brands receive data related to their products that consumers request and sample. The data provides information on specific details like why consumers chose the products, what products they didn't choose and why, and the experience they had with the products. Reid said the brands use the data for a variety of reasons, from ad targeting to product and package redesigns.