What we do
WonderLeap is a monetization platform for VR creators to make money with VR ads.
- Network currently has 5 publishers (total potential reach of ~18K/mo) and 2 live advertisers
- Unique ads served last week: 1159 (up 17% from week prior)
- Unique ad clicks last week: 136 (up 8% from week prior)
- We see CTR hovering at 12.7%
- Average time ad in sight is ~80-90 seconds per session
- We do not have great attribution yet on how many have actually applied for the job. We are working on this, as we rely on applicants to share how they found us through word-of-mouth. This wasn't a great idea.
- We increased traffic to Ada’s careers page by 56%.
- Users viewing our ads from a VR headset are 50% more likely to click on the ad than from desktop/mobile browsers
- Is there similar data to confirm/deny what we are seeing:
- We are seeing similar engagement (11.0% CTR) with our latest advertiser to join, an e-commerce site that sells VR accessories.
- Risk in hardware adoption that is not under our control
- From the very beginning, we made a bet that the Oculus Quest was going to become a very popular consumer product this holiday season. Advertising only becomes really interesting at scale.
- Two of our publishers are featured on the new tab page of the Oculus Browser, so we have a reliable proxy for measuring the popularity of the Oculus Quest and its browser over the next two months.
- Trading away the risk of Facebook exerting its control within its app ecosystem for a smaller niche market on the open Web.
- There is still uncertainty around whether or not VR content will proliferate deeply on the Web, and most of our traffic comes from the New Tab page on the Oculus Browser.
- We stayed away from integrating advertisements into native apps because most games on the Quest are between $9.99 and $39.99, and ads will not make sense on content in the Oculus Store.
What's next for us?
- Exploring better targeting and conversion optimization
- We are now collecting geolocation data to better target advertising to specific audiences, so we will make use of this data soon to increase engagement.
- Analytics for advertisers and publishers
- Our developers have been asking for an easy way to manage the ads on their games and payouts, so this has been prioritized on our roadmap
- Finding our 3rd advertiser
- We are looking to work with small (<5 people) companies that sell products that would appeal to males between the ages of 18-34.
- One of our efforts to find a third advertiser is leading to a meeting with Pattison Outdoor. They would like to learn more through a demo. This is an interesting opportunity for us because they have a supply of brands that we can bootstrap our network with, and are a traditional out-of-home advertising company that might benefit from new ideas.
Increasing our audience reach
- By mid-November our audience reach will increase from 6K uniques/mo to 15K uniques/mo as we activate another large publisher.
- The number that we will feel confident approaching advertisers with is +50K.
Would appreciate your insights on...
- Advertiser acquisition strategy: Struggling partly due to not having enough scale on the publisher side that makes it difficult for us to sell to advertisers. We are also trying to figure out what kinds of companies make sense to advertise in VR, currently we are focusing on VR accessory companies as we feel that we have the strongest value prop for them. I may be wrong with this assumption.
- Product features for early advertisers: When should we think about prioritizing the build of a self-serve ad creation platform? Are we too early?