In this interview, Tom talks about the company’s mission to provide a holistic and inclusive approach to employee wellbeing by offering a benefits app to all Australian employers, especially those in small to medium-sized businesses. With a user growth rate of 50,000 per month and a targeted approach that uses data to tailor offers, Beny is set to make a significant impact in the employee wellbeing and the affiliate marketing industry.
Tell us a bit more about Beny.
Tom: Beny is an innovative start-up that aims to provide an employee benefits & wellbeing app to all Australian employers, specifically those in small to medium-sized businesses. With a mission to reach out to the 7.6 million Australian workers who may not have access to the benefits offered by larger corporations, Beny aims to provide a holistic and inclusive approach to employee wellbeing.
Backed by one of the largest privately-owned recruitment companies in Australia with over 160 employees and a revenue of $75 million+, Beny’s reach is expected to extend to over 1 million members by the end of 2024. With a user growth rate of 50,000 per month and an expansive audience ranging from 16 to 65 years old employees across Australia, Beny is well-positioned to make an impact in the employee wellbeing industry.
Beny is open to partnering with advertisers to promote seasonal campaigns while also providing additional discounts or benefits to its users, even if that means reducing the CPA payable to Beny. With a customer-centric approach, Beny is committed to providing a seamless and cost-effective experience for its users, making it an attractive platform for both employees and advertisers.
Also, in line with our belief in practising gratitude is positive for wellbeing, we are pledging 50% of our profits to making a mentally healthier Australia through the likes of Black Dog Institute and other positive causes.
What sets you apart from publishers in your category?
Tom: Beny will collect and analyse a wide range of consented data on its members, including standard personal data such as age, gender and location, as well as more detailed information such as job title, income range and interests. This data coupled with information on user activity captured on Beny app will allow us to tailor offers to better suit the needs and preferences of individual employees.
By leveraging this data, we will be able to work closely with advertisers to optimise campaigns and improve conversion. For example, if a brand is promoting a new product targeted at young adults with a certain income level, Beny can use its data to identify and target members who fit this demographic. This targeted approach can lead to more effective campaigns, higher engagement and increased sales for advertisers.
Lastly, Beny will have access to the employers’ internal communications which allows us to promote brands directly in each employee’s inbox.
How do you help advertisers add value and drive incrementality?
Tom: Beny can help advertisers drive incrementality by using its data-driven approach to identify and target members who are most likely to be interested in a particular product or service. This hyper-targeted solution can add value to brands by potentially increasing sales, reaching new customers and boosting site traffic.
For example, let’s say a retailer wants to promote a new line of women’s office wear to its existing customer base. By using Beny’s data, the retailer can identify female employees who work in office-based roles, have a certain income range and have shown an interest in fashion. The retailer can then create a targeted campaign specifically aimed at these employees with personalised messaging and exclusive promotions. This approach is more likely to drive incremental sales than a broad-based campaign aimed at all customers.
Beny can also track and measure the effectiveness of these targeted campaigns in real-time. Advertisers can use this data to refine their campaigns, optimise their messaging and adjust their targeting to ensure they are reaching the right audience at the right time. This can help advertisers to drive incrementality by continuously improving their marketing strategies and achieving better results over time.
What excites you about the affiliate marketing industry and where it’s headed? What new innovations will we see from you this year?
Tom: The affiliate marketing industry holds tremendous potential. The exciting developments in technology have made it possible for seamless integrations, while also enabling in-depth real-time data analysis to inform decision-making.
As for our upcoming innovations, we are thrilled to introduce the Beny Day initiative. When employers activate Beny for their employees, they can also offer a Beny Day, an additional day of annual leave per year reserved for an employee to tackle those ‘life admin’ tasks such as delving into their financial matters. This can be reviewing home finance, insurances, utilities, physical health and wellness habits, social activities, managing digital health, finally accomplishing personal tasks at home, and even planning their next holiday. All of it can be done within the Beny app, via our Beny Partners.
This not only helps employers attract and retain top talent but also addresses issues such as financial stress and mental health, potentially reducing absenteeism and improving overall productivity.
Also, in appreciation for providing a benefit on the app, we will sponsor a subscription for our partnered advertisers so their employees can also enjoy the rewards of the Beny app. With Beny as a partner, advertisers can expect continued innovation and cutting-edge solutions.
Why did you choose to partner with Rakuten Advertising?
Tom: As we prepare to launch in Australia, we wanted to ensure that we have a strong partner who could help us establish and grow our presence in the region. With Rakuten Advertising’s deep knowledge and expertise in the Australian market, we knew that the team was perfect for us.
We have already established distribution capabilities and built strong brand recognition in several international markets, including countries across Asia-Pacific, the UK and the US. By partnering with Rakuten, we can leverage its expansive global network to extend our reach internationally.
Ultimately, our goal is to foster strong relationships with customers and partners and with Rakuten’s expertise and resources, we’re confident that we can achieve our objectives and drive growth for our brand.