July 19, 2010
How many times have you bought a friend a virtual cupcake on Facebook or some other social networking site? With the rise of such virtual goods environments, thanks to Zynga, Facebook and Foursquare among others, and brands trying to leverage them for their own businesses, the question of return on investment is an important one.
AppSavvy, a New York based startup that looks to connect advertisers with social experiences recently released a study on virtual goods that shows just how much attention both consumers and businesses are paying to the virtual goods economy. According to the study, it appears that virtual goods are playing a large role in the digital media space and retaining that information when they go offline.
The AppSavvy study returned the following interesting findings:
- People exposed to branded virtual goods were 45% more likely to remember the brand.
- 74% of people remembered seeing the branded virtual good when asked.
- Most importantly, those exposed to branded virtual goods were 32% more likely to buy one of the brand’s products.
Appsavvy went on to say in a post on it’s blog:
“There’s an incredible amount of positive buzz in the advertising community about virtual goods, and we think the results of this study reinforce that.”
Ironically, the AppSavvy Virtual Goods report come just a couple weeks prior to Facebook closing its virtual goods store to focus on other products even though it offers one of the largest stores on the Web.
To see the full findings check out the slide presentation below. What do you think of the findings? Do you think virtual goods drive real world results for brands and businesses? Let us know your thoughts in the comments section below.
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