A new platform unlocks the power of marketing with gamification, helping small and medium-sized enterprises (SMEs) access the growing markets of mobile gaming and e-commerce.
LiveHive, a new innovative "software as a service" (SaaS) platform, was founded by Patrick Womack - inspired by his previous frustrations as an entrepreneur running a sunglasses company. The new platform aims to help SMEs struggling to compete with larger companies, including multinational entities, currently using ineffective, high-cost, low engagement advertisements that use Pay Per Check (PPC) and Cost Per Acquisition (CPA) methods.
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'Steam Meets Groupon for E-Commerce'
Now the LiveHive chairman and CEO, Womack first wondered why entrepreneurs like him had to establish different sources for value-added services. It led him to find a way to bring all those services into one convenient platform. Furthermore, he developed the platform to have a tiered pricing program, extending accessibility to an average small business owner.
As a new business SaaS platform, LiveHive leverages modern technology - the inclusion of game-design elements, artificial intelligence, machine learning, and neuroeconomics - to help optimize the potential of SMEs. Particularly, the Colorado-based company has an innovative strategy for neuroeconomics - the combination of neuroscience with behavioral economics, or the psychological factors that influence an individual's decision-making actions - to influence the market into creating economic choices.
"We love games and making games, as well as the ecommerce space, and we wanted to fuse them together helping our SME clients with less branding power generate substantial returns like large enterprise companies for a fraction of the cost," Womack shares in a company press release. He describes LiveHive as a "Steam meets Groupon for e-commerce." For B2B customers familiar with AdWords and Facebook campaigns, LiveHive will be a familiar environment for creating gamification based marketing campaigns - employing a platform based on the versatile HTML 5 protocol.
"Our competitors only have one component, or a small fraction at best, of everything that LiveHive has to offer," Womack adds.
Opening Large Markets for SMEs
LiveHive looks to tap into the potential of the gamification market across the world, which was valued at a staggering $9.1 billion in 2020 and is projected to reach more than $30.70 billion by 2025, growing at a compound annual growth rate of 27.40 percent over the period covered in the Market and Markets forecast. Furthermore, retail gamification makes up the largest market share.
The core target audiences of the new SaaS platform includes: (1) Digital Marketing Agencies by requiring more out of their respective marketing budgets from pressure caused by growing SME clients; (2) the SMEs themselves, looking for a competitive edge despite the limitations of smaller sales and marketing teams; (3) microbusinesses, or the smaller mom-and-pop shops who are comfortable launching their own social media campaigns, but remains unsure of their ROI.
As an aspiring e-commerce gamechanger, LiveHive's features include customization, workflow capability, management of users, roles, and access, internationalization, and more. Furthermore, it has social media integration - Facebook, LinkedIn, Instagram, and Twitter - that includes posts, shares, scheduling, and tracking.
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Published on Tech Times.
