Google Takes AdWallet Under Its Wing

A unique business model prompted Google to ask AdWallet, a seven-week old startup, to join its Advantage Program, an invitation-only ad program aimed at helping brands reach consumers through apps. Similar to a mentoring program, the invite provides complimentary access to Google's digital marketing experts, summits and services for 90 days. 

The program helps the startup, but it also assists Google to learn more about AdWallet's business model, one that Google has yet to explore for itself.

Adam Greenhood, CEO of AdWallet, said Google invites companies to join the program each quarter, and one or two of them are startups. Some are established companies. 

Two pending patents might stop Google from running with the idea to increase the number of ads seen on smartphones, they wouldn't stop Google from trying to make a possible acquisition.

Supercuts was the first national brand to advertise on the platform. Most of the brands are local to Albuquerque, New Mexico, where the product launched.

advertisement

advertisement

AdWallet, a free app that became available for download August 1, hooks up with advertisers that pay consumers 50 cents to watch an advertisement and 25 cents to share it on social media.

With about $1 million in funding, the company publically launched on August 1 by Greenhood, a long-time ad exec who worked at several agencies including TBWA, and Esparza. He set up shop in Albuquerque with a business model that pays consumers for their attention because these days brands spend millions of dollars with less return.

"The goal is to have between 50,000 and 75,000 users by the end of the year," Greenhood said. "I want to prove that in a local market this type of platform can scale. Then I'll take it national."

The platform allows advertisers to select a target market, define a maximum budget and send the advertisers directly to the consumer's AdWallet app via text message. The platform cross-references everyone who has downloaded the app to search for the perfect customer to view the advertisement.

The consumer goes to the platform to watch the 15-second or 30-second ad and answer a question about the ad to verify that they paid attention. They then rate the ad and download an exclusive offer from the advertiser. The consumer receives 50 cents for paying attention and 25 cents more for sharing it.

When the campaign ends, AdWallet will send a report with geographic, social and behavioral analytics of the people who watched the ad to the advertiser. It tracks when the consumer downloaded the ad, when they received the offer, and when they used the offer.  

AdWallet also pays consumers $1 for each referral who signs up. The company claims that as of September 15, about 7,000 people in Albuquerque, where it is being tested, have downloaded and use the app. He said the company has paid about 1,000 people $10 or more.

Tori Horan, an AdWallet user, says she uses AdWallet to get paid for viewing ads in her spare time. She chooses to get paid through her PayPal account. "At first I would get nearly two each morning and you can choose the time of day to receive text notification of ads, but lately it's about every other day and sometimes only one ad at a time not two, she told Digital Daily News through Facebook Messenger.

 

3 comments about "Google Takes AdWallet Under Its Wing".
Check to receive email when comments are posted.
  1. John Grono from GAP Research, September 16, 2017 at 2:50 a.m.

    Gotcha.   So I sit there with multiple browsers open, click on the ad limk then like it - then go onto te next browser.   Repeat as often as possible until boredom sets in.

    The thing is a 'play' does not necessarily equal a view and server-side you have no idea what is happening without full knowledge of the OS status, focus etc.

    So, yeah, I reckon it will be a raging success and sell bucketloads.

  2. Adam Greenhood from AdWallet, February 13, 2019 at 1:26 p.m.

    Hi John!

    AdWallet doesns't allow an ad to be viewed accross multiple browser windows. Also, we ask a question at the end of each ad to prove not only the 100% VTR, but the actual RETENTION of the content (something no media system currently offers). Check out more at adwallet.com. This is not about making money...it's about finally paying for attention directly. rather than interuppting it. AdWallet is about changing the advisarial relationship between consumers and advertisers. The results after testing the system for 14 months are nothing short of shocking. feel free to reach out to me at adam@adwallet.com if you'd like to chat more. 

  3. John Grono from GAP Research, February 13, 2019 at 3:31 p.m.

    Hi Adam.

    I checked it out.   My initial reaction was that asking a question after each ad was onerous.

    43 years of working in research tells my gut that while some will respond, that ennui will quickly ensue as the task will outweigh the benefit ethnographically speaking.   As a statistician, paying people to watch ads and then paying again for 'pushing' the ad generally results in what we call a 'professional respondent panel'.   That is, you have people who will answer anything because there is a monetary or equivalent benefit, which generally results in 'deep data' for a non-representative sub-set of a microcosm.

    But I congratulate you on your rapid success and wish you well.

Next story loading loading..