Leveraging the power of gamification, artificial intelligence, machine learning, and neuroeconomics, Live Hive, an innovative Colorado-based company, has introduced a unique SaaS platform solution to help unlock the potential of ecommerce and mobile gaming for many small to medium enterprises (SMEs) struggling to compete with multinationals through ineffective high-cost, low engagement Pay Per Click (PPC) and Cost Per Acquisition (CPA) ads.
LiveHive, (https://www.livehive.com ), enables small to medium-sized ecommerce companies to brand, publish, and share games to drive long-session traffic and incentivize purchases. In addition, its platform offers multiple business functionalities to enhance reporting and analytics, platform, social media management, artificial intelligence chatbots, website plug-ins, and seamless integration.
Also setting apart the company’s platform is its application of neuroeconomics — combining neuroscience (the function of the nervous system and brain) with behavioral economics (effects of psychological, cognitive, emotional, cultural and social factors on the decisions of individuals) — to influence buyers into making 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,” said Patrick Womack, CEO and chairman of LiveHive. “Think of LiveHive as Steam meets Groupon for ecommerce. LiveHive is the easiest platform for B2B customers who are familiar with AdWords and Facebook campaigns to create successful gamified marketing. Our competitors only have one component, or a small fraction at best, of everything that LiveHive has to offer.”
Womack added that LiveHive is looking to tap into the potential of the gamification market globally, which according to a report by marketandmarkets.com, was valued at $9.1 billion in 2020 and expected to reach $30.70 billion by 2025 and grow at a compound annual growth rate of 27.40% over the forecast period (2020 – 2025). Retail gamification also holds the largest market share.
“There are 30 million SMEs according to the Office of the United States Trade Representatives site, (https://ustr.gov/trade-agreements/free-trade-agreements/transatlantic-trade-and-investment-partnership-t-tip/t-tip-12 ), which we believe can all benefit with the services we have to offer,” Womack said.
The platform’s top benefits and features include:
- Innovative advertising: Companies can choose from an ever-expanding library of simple and fun games. Add in personalized branding and publish unique marketing messages in as little as 15 minutes.
- Utilize Neuroeconomics: Data insights based on neuroscience and economics deliver predictable consumer behavior and a better ROI compared to PPC and CPA advertising.
- Boost Brand Impressions: Increase audience awareness, conversions, average order value (AOV), and lifetime value (LTV) through mobile-optimized, browser-based games. Improve user time-on-site and deepen customer familiarity via high-quality brand engagement.
- Integrate Across Key Channels: Seamless plug-ins link between social, website, cart, and email platforms. LiveHive works across both desktop and mobile applications.
LiveHive plans to unveil a beta launch in July 2021 including test-driving the platform with pioneer brands and ramping up its sales with B2B users toward an official launch in the fourth quarter of 2021.