WebProNews

Tag: ChompOn

  • Loopt u-Deals Lets You Create Your Own Deals for Local Businesses

    Loopt has an interesting new spin on the hot deals space. The company has announced a product called U-Deals, which essentially gets the consumer (You, or “U” – get it?) to create the deal, including the discount, and then use Loopt to try to get the business to turn the deal into a reality. Intriguing concept. It will be interesting to see if it’s successful.

    “Loopt u-Deals are for great for people who have been craving a deal at their favorite local place or somewhere they’ve wanted to try,” a Loopt representative tells WebProNews. “It’s also a strong deal alternative for the construction worker getting manicure deals or the vegetarian receiving steakhouse deals.”

    Loopt says there are three basic steps:

    1. Request a deal.

    2. Share your requested deal with as many people as you can (email, Twitter, Facebook, the works) and get them to sign up for the deal.

    3. Loopt will contact the business and try to make it happen. If the business approves, you all get the deal and some u-Deals will remain open for purchase.

    Anyone can purchase an approved u-Deal, the company says.

    “Loopt u-Deals are truly a team effort – deal creators, their friends and family, Loopt, and local merchants all come together to make them happen,” said Sam Altman, co-founder and CEO, Loopt. “If we can continue to make local business connections simple, fun and rewarding for mobile users, we’ll start to see much stronger social ties within local communities nationwide.”

    Watch our recent interview with Altman here:

    Loopt is working with group-buying platform ChompOn to process the u-Deals purchases.

    The U-Deals are starting in the San Francisco Bay area, and at launch, Loopt’s Android app will have u-Deals and the ability to request a deal. The functionality will also soon come to the iPhone.

  • How Much is a Tweet or a Like Worth to You?

    ChompOn has released some interesting findings (pdf) related to social media sharing and its value to e-commerce. Specifically, the firm sought out to answer the question: "What is the value of a social action in online commerce?" 

    What they came up with is that a Facebook Share was worth $14, a Facebook "like" was worth $8, a tweet was worth $5, and a Twitter follow was worth $2.

    "Admittedly, we believe the true value for likes and follows to be much higher due to creation of long-term loyalty," says ChompOn. "Additionally, it is not possible to directly attribute traffic from these actions so it was necessary to estimate.

    ChompOn Puts Value on Tweets, Likes, Shares, Follows

    Obviously, you have to take into account their methodology, which is where that estimation factor comes in. 

    "For shares and tweets, we were able to directly attribute sales to the original action, so we simply took the total revenue attributed to each action and divided it by the total number of shares/tweets," the firm says. "For likes and follows, we had to estimate attribution by looking at our traffic references and subtracting out purchases made through shares/tweets as well as purchases made through direct traffic."

    ChompOn is also careful to point out that gross revenue depends on the products and services being offered. 

    In reality, you may find a greater dollar value in all of these social interactions, or you may find now dollar value at all. There are a lot of potential variables to consider, but if nothing else, it shows that you can indeed place a dollar value on a tweet, on a "like", etc. 

    That’s really the moral of the story. Many complaints have been voiced about a lack of measurable ROI when it comes to social media. If you have this complaint, it may be time to re-evaluate your measuring strategies.