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New app out to disrupt digital advertising industry by paying SMS users to receive ads

“The technology had to be designed very carefully in order to comply with them. We feel now like we’re on the cutting edge of getting it right for mobile and the law will be catching up to us.” Will the cash-for-ads-via-SMS concept work? SlamAd execs say it already is working, on the evidence of the reception the app generated at the TechDay trade show in New York last May. “The demographic that the product is targeted at went crazy,” Schneider said. “When the general public came in they were lining up just to sign up because of the opportunity of earning the cash just for sending a text message. The product caught on really quickly.” Just from the proof of concept being unveiled at the trade show, SlamAd made it into the Top 100 Communication apps on Google Play. “People can choose not to go further with SlamAd,” Schneider said, “but the beauty of it for the ad industry is there’s a 99% ad open rate because it’s in the form of a text message as opposed to being an ad on Facebook or Google where the consumer might well not click on it.” “It’s not an albatross, it’s something that users want to accomplish,” she added. “We’re being respectful of the user in that our ads are sporadic, short and simple . Our users want to see ads so it’s the opposite model to the rest of the industry where media companies try to almost shield their users from too much advertising.” SlamAd is primarily aimed at 13-30-year-olds who send an estimated 120-130 text messages a day. But the option to donate cash to charity or make a payment towards their college 529 savings plan is their attempt to capture the older demographic. Jon Kraft, co-founder of Pandora, serves on SlamAd’s Advisory Board and is a shareholder in the company while rapper Flo-Rida is an Ambassador for the app.

For the original version including any supplementary images or video, visit https://www.marketwatch.com/story/new-app-out-to-disrupt-digital-advertising-industry-by-paying-sms-users-to-receive-ads-2018-07-06

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