Acorn’s 240,000 users can top-up funds by monetising their personal profiles
Mobile-first investment platform Acorns has united with global media and technology company Pureprofile for an innovative partnership that will give Acorns’ 240,000 users the opportunity to become Pureprofile members and monetise the power of their personal profiles.
From today, Pureprofile’s Australian users will be able to redeem their cash earned from completing questions and surveys into their Acorns investment account. Later this year, Pureprofile surveys will be made available on the Acorns platform, allowing Acorns users to boost their investments by participating in surveys and having their cash rewards directly deposited into their Acorns investment account.
Micro-investment app Acorns began Australian operations in February 2016. Users automatically invest spare change from everyday purchases, which Acorns’ technology invests into a diversified portfolio to help grow their funds. Pureprofile, an online profile marketing and insights technology business, prides itself on linking brands with engaged customers and shifting the paradigm from irrelevant marketing to a two-way, win-win conversation between brands and customers. Acorns’ membership is skewed to a critical demographic for brands – Millennials. Finding out their opinions through Pureprofile will allow brands to gather insights into this increasingly important segment.
Pureprofile Chief Executive Officer, Nic Jones said: “In today’s marketplace, the power is increasingly shifting from brands to the consumer. In order for brands to engage and retain customers, data is more and more critical for customer engagement and retention. Data becomes the new currency, and consumers are leveraging this to their advantage in a Me2B (“me-to-business”) marketplace, which is also known as the Personal Information Economy.”
“Due to issues that can arise around privacy of personal data, like the current Facebook scandal, our aim is to give the power back to consumers with a strictly opt-in criteria so they can retain ownership over their data and choose which brands they want to engage with. We’re excited to announce our partnership with Acorns to enable more consumers to discover what their personal data is worth – all the while connecting brands with new potential customers who are actually interested in hearing from them.”
Privacy is at the top of the agenda in the partnership, which ensures consumers are not identified. Each membership is strictly opt-in where consumers will own their data and decide who can access it.
Acorns Australia’s Founder and CEO, George Lucas said: “We are excited to partner with Pureprofile and give our members the option to invest their rewards back into their Acorns account and also be given the opportunity to assist in providing valuable insights into mobile segment-based transactions. The opt-in mechanism is important to us to ensure users have complete control over their data profiles.”
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