digital kids summit 2013: jason morrell, director of sales, games, virtual piggy
DESCRIPTION
Creating Products and Services That Sell WellTRANSCRIPT
TODAY’S YOUTH AND COMMERCE
Highly engaged and social but
difficult to convert
Limited payment options for the youth market
There are 80M U18’s in the US,
almost none with a credit card
8-18 age group represents over
$200Bn in purchasing power annually
(in the USA alone)
2Piper Jaffray 2013 “Taking Stock with Teens” Market Research Project & 2012 Harris Poll
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LEADING ENT. CO. FINED $3MILLIONFor Violating Childrens’ Privacy
NJ Sues App DeveloperFor Alleged Violations of Children’s Online Privacy Protection Act
IN THE NEWSLarge technology company settles over children’s app bills $100,000,000Investigated by United Kingdom government
8-Year-Old Girl Charged $1,400 For Buying SmurfberriesIn Capcom’s ‘Smurf’s Village for the Iphone
DAUGHTER BUYS CAR ON EBAY Using Dad’s Iphone
NEW GLOBAL SOCIAL MEDIA LAWSUIT Highlights trouble with under 18s and Virtual Currency
NEW COPPA REGULATIONSIn place as of July 1, 2013
FRIENDLY FRAUDPrevalent with youth shoppers
VIRTUAL PIGGY IS THE SOLUTIONVirtual Piggy is the safe way for kids and teens to save, shop and give online, within limits parents set.
Competitive advantage over Non-VP merchants
Reduce transactional friction
Directly monetize and market to the under 18 demographic
Limit charge backs and friendly fraud
Access to greater base of potential users
“With Virtual Piggy kids shop at their favorite sites ....think Paypal for kids.”
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HOW IT WORKS - MERCHANTOne stop youth engagement and monetization platform
INTEGRATION - Easy integration via Form POST or SOAP API methods - Uses existing payment flow and gateway - VP collects no funds, you remain the merchant of record
CO-MARKETING - Virtual Piggy can help with user acquisition and conversions. - Our integrated campaigns drive traffic and transactions.
MERCHANT PROMOTIONAL OFFERS - Pushed to Virtual Piggy users in a CARU approved manner - Allows under 13’s to receive messages via parent control
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COPPA COMPLIANT SHOPPINGOne stop safe checkout with limited friction
REGULAR CHECKOUT
VIRTUAL PIGGY CHECKOUT - COPPA COMPLIANT
Results in breach of COPPA and increased friction:• Cart Drop-off • Loss of sale • Friendly Fraud
Youth skips filling out personal info. Virtual Piggy provides parent’s credentials to merchant.
Select Checkout
Select Checkout with Virtual Piggy
Form of Payment
Sign In Options
Login to Virtual Piggy Account
CC & Billing Info
Shipping Info
Review & Place Order
Review & Place Order
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HOW IT WORKS - CONSUMERGetting started with Virtual Piggy
1 2SIGN UPFree for parents and youth, create a Virtual Piggy account with payment source and address.
MANAGEAdd a profile for each child, setting a monthly allowance and spending controls.
PURCHASECheckout with Virtual Piggy at approved stores, using only their username and password.
DISCOVERFind new merchants via offers, gift cards and wish list.
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VIRTUAL PIGGY DASHBOARD - CONSUMER
a
d e
h i
gf
b c
LEGENDa. Current Balance
b. Savings
c. Merchant Offers and Money Tips
d. Youth Accounts
e. Child Account Controls
f. Gift Cards
g. Wish List to send to family and friends
h. One Time Deposits
i. Transaction History
CO-PROMOTION WITH VIRTUAL PIGGY
ENGAGE THE UNDER 18 CONSUMER
Access to a difficult demographic
DRIVE TRAFFIC AND TRANSACTIONSExtend Customer LTV
COMPETITIVE ADVANTAGE
INCREASE BRAND AWARENESS
Enhance Brand Loyalty
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CO-MARKETING
CLAIRE’S - Co-promotion with Claire’s, Sony
Pictures, and One Direction. - Gave out 1.8M handouts in Claire’s
(1500) Stores. - Free One Direction “This is Us” movie
tickets to Claire’s online customers.
FATHEAD - Every REAL.BIG. Fathead™ purchase
from April - Nov includes a Virtual Piggy Fathead (100k distribution).
- 30% off promotion for all Virtual Piggy members.
ZING/WARPED TOUR - VP Booth at Vans Warped Tour all summer. - Zing Revolution customers could use VP to
checkout and get a free clear case. - Virtual Piggy guitar picks given out at shows.
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CO-MARKETING - GAMING
HABBO - Habbo members who register for Virtual
Piggy get an exclusive rare Golden Pig and Piggy Flag in-game item.
- Habbo Reach: - More than 5,000,000 unique visitors in game monthly - 1.2 million fans on Facebook
GAIA ONLINE - Gaia Online users were offered various
incentives to purchase Gaia Cash using Virtual Piggy.
- Visitors to the Virtual Piggy page within Gaia Online got free Virtual Piggy clothing for their in-game avatar.
- 60,781 Virtual Piggy shirts redeemed by Gaia users.
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PAYMENT PROCESSORS
PARTNER NETWORK
RETAIL AND GAMING CHANNEL
DIGITAL GIFT CARD CHANNEL$
Jason [email protected]